OYO's parent company, Prism, has filed updated draft papers for its proposed initial public offering, according to sources. The company plans to raise Rs 6,650 crore entirely through a fresh issue of shares, with no offer for sale (OFS) component.
Sources said Prism may also undertake a pre-IPO placement of up to Rs 1,330 crore before the public issue.
The company intends to use a significant portion of the IPO proceeds to deleverage its balance sheet. According to the updated draft papers, Rs 4,987.5 crore from the issue proceeds has been earmarked for the repayment or prepayment of outstanding borrowings, while the remaining funds are expected to be used for general corporate purposes.
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 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.
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