Prism, the parent company of global travel-tech firm OYO has filed confidential draft IPO papers with India’s market regulator SEBI, aiming to raise about ₹6,650 crore through a fresh share issue. This move marks a renewed effort by the company to go public after earlier attempts were paused due to market conditions.
SEBI's secret pre-filing approach enables businesses to submit draft documents in private and make revisions before they are made public, was used for the submission. A plan to fund up to ₹6,650 crore was authorized by Prism's shareholders in December 2025. Market conditions and regulatory permissions will determine how much money is raised.
If successful, the IPO could value Prism at around USD 7–8 billion, according to people familiar with the plans. This would represent a strong valuation for the hospitality and travel tech group, which has reported revenue growth and support from major investors like SoftBank.
This latest filing follows Prism’s earlier IPO efforts in 2021 and 2023, both of which were put on hold before listing. The confidential filing route gives Prism flexibility to adjust its offer details and timing based on investor interest and market conditions, potentially gearing up for a 2026 listing.
The company has appointed a syndicate of bankers including ICICI Securities, Axis Capital, Goldman Sachs and Citibank to manage the IPO process. Prism’s plan to go public is seen as part of a broader trend of large Indian startups and tech-enabled travel brands exploring listings as they scale their businesses.
Prism intends to enter the public markets and draw in new funding to boost growth and solidify its position in the international travel and hospitality industry, as indicated by its confidential IPO file.
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