OYO parent Prism has filed its updated Draft Red Herring Prospectus (UDRHP) with the Securities and Exchange Board of India (SEBI), taking a major step toward its long-awaited initial public offering. The proposed IPO comprises a fresh issue of shares worth ₹6,650 crore, with no offer-for-sale (OFS) by existing shareholders.
The company plans to utilise a significant portion of the proceeds to repay or prepay borrowings, strengthen its balance sheet and support future growth initiatives. Existing investors, including SoftBank, Microsoft, Airbnb, Lightspeed, Peak XV and founder Ritesh Agarwal, will retain their holdings through the public issue.
Prism, formerly known as Oravel Stays, has reported a sharp improvement in its financial performance, driven by strong growth in its global hospitality business, particularly in the United States. The company also recently secured an improved credit rating, boosting investor confidence ahead of the IPO.
The filing marks another milestone in OYO’s journey to becoming a publicly listed company, with the IPO expected to support its expansion strategy and reinforce its position in the global hospitality technology market.
