Oyo Parent PRISM Files Updated IPO Papers, Raises Rs.6,650 Crore
Global hospitality technology company PRISM, the parent company of OYO, has submitted its Updated Draft Red Herring Prospectus-I (UDRHP-I) to the Securities and Exchange Board of India (SEBI).
The suggested initial public offering (IPO) includes a new issuance of shares valued at up to Rs.6,650 crore, without any offer for sale (OFS) from current shareholders.
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The IPO is fully designed as a new issue, and current shareholders, such as SoftBank's SVF India Holdings, founder Ritesh Agarwal, RA Hospitality Holdings, Microsoft, Airbnb, Khazanah, A1 Holdings, Star Virtue Investment, Global Ivy Ventures, Lightspeed, Greenoaks Capital, and Peak XV, will not be divesting shares through the suggested public offering.
The firm might also evaluate a pre-IPO placement of as much as Rs.1,330 crore prior to submitting the Red Herring Prospectus (RHP) to the Registrar of Companies. If executed, the funds generated from the pre-IPO placement will be deducted from the new issue.
As per the UDRHP-I, the firm plans to allocate Rs.4,987.5 crore from the net proceeds for repaying or prepaying its borrowings. The funds will be allocated for general corporate needs. PRISM presents itself as a tech-focused hospitality platform that has expanded into a worldwide multi-brand system encompassing hotels, vacation rentals, extended-stay facilities, and listings.
For the nine months ending December 31, 2025 (9MFY26), the firm announced operational revenue of Rs.6,941 crore, exceeding its complete fiscal year FY25 revenue of Rs.6,259 crore.
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PRISM announced a profit after tax of Rs.748 crore for 9MFY26, up from Rs.245 crore in FY25. Earnings before interest, tax, depreciation and amortisation (Ebitda) reached Rs.2,127 crore for 9MFY26, in contrast to Rs.953 crore in FY25.
The firm manages 43 brands in over 35 nations. By December 31, 2025, its network included 24,303 hotels, 124,668 homes, and 144,583 listings, with 14,937 storefronts located in India. Since it began operating in 2012, the company has catered to 119.36 million distinct customers.
PRISM's operations in the US have emerged as a major growth contributor after acquiring G6 Hospitality, which manages the Motel 6 and Studio 6 brands across the US and Canada.
The US business announced a GBV of Rs.12,022.51 crore for 9MFY26, approximately 155 percent greater than the full-year FY25 total of Rs.4,712.83 crore. The US accounted for 52.39 percent of PRISM's worldwide GBV over the nine-month timeframe.
PRISM has also achieved growth in Europe through properties and listings. The number of homes and listings in Europe rose to 269,251 by December 31, 2025, up from 208,901 on March 31, 2025.
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The European properties and listings division of the company features brands like Belvilla, DanCenter, and CheckMyGuest. The filing indicated that PRISM has acquired under one percent of the European housing market.