Prism, the parent company of global hospitality and travel unicorn OYO, has received approval from the Securities and Exchange Board of India to raise up to Rs 6,650 crore via an initial public offer on Tuesday.
The IPO is likely to consist of only fresh issues with no offer for sale or OFS component, according to sources. Moreover, the proposed offer is expected to value the company at $7 billion, they added. The final issue size and valuation, though, depend on investor demand and markets.
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Prism had filed the preliminary IPO papers with SEBI in December 2025 confidentially, and has been assessing market conditions and timelines before public IPO filing. The updates prospectus is expected in July, the sources highlighted.
The fundraise comes as Prism eyes greater penetration in overseas market and expansion in the Indian hospitality sector. The company expanded its luxury portfolio via deals with its CheckIn chain launch in September last year.
With over 1,300 properties across India, CheckIn has a premium basket of hotels including Townhouse Hotels, Clubhouse, Sunday Hotels, Belvilla, and Palette Hotels.
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In February 2025, the announced the launch of its European holiday home brand, DanCenter, in the Indian market and entered the holiday home rentals segment.
Moody's Ratings reaffirmed Prism's B2 corporate family rating with a stable outlook back in November 2025. At the time, the ratings agency projected the company's EBITDA to reach aroundRs 2,496 crore ($280 billion) in FY26.
Additionally, the company appointed former SEBI chairman Ajay Tyagi as an independent director in the month of May.
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