Prism eyes Rs 6,650 cr via fresh issue

New Delhi: Prism, the parent firm of global travel tech unicorn Oyo, has filed preliminary papers with market regulator Sebi to raise Rs 6,650 crore through an initial public offering (IPO) using a confidential route, people familiar with the development said. The proposed public offering is expected to value the company in the range of $7-8 billion, they added.

The filing follows shareholders’ approval at an extraordinary general meeting (EGM) held on December 20, 2025, where the company received consent to raise up to Rs 6,650 crore through a fresh issue of equity shares, subject to regulatory approvals and market conditions.

Oyo’s parent entity Prism has filed “the pre-filed draft red herring prospectus with Sebi and the stock exchanges...in relation to the proposed initial public offering of its equity shares on the main-board of the stock exchanges”, said the people aware of the development.

The company aims to tap public markets at an opportune time in 2026, following a year of revenue growth and continued EBITDA positivity, said people in the know. It had initially appointed ICICI Securities, Axis Capital, Goldman Sachs and Citibank as the book-running lead managers to the proposed IPO, but has since added more banks to the syndicate.