Prism, the parent firm of global travel tech unicorn Oyo, has received the approval of the markets regulator Sebi to raise Rs 6,650 crore through its initial public offering (IPO), people familiar with the development said on Tuesday, as reported by news agency PTI.
Earlier in December-end 2025, OYO’s parent entity PRISM filed the preliminary IPO papers with Sebi using the confidential route to raise Rs 6,650 crore.
The filing followed shareholders’ approval at an Extraordinary General Meeting (EGM) held on December 20, 2025, where the company received consent to raise up to Rs 6,650 crore through a fresh issue of equity shares.
As the next step, the company will now file a public Updated Draft Red Herring Prospectus (UDRHP-1) which will be open for public comments for 21 days. People familiar with the development said the company is planning to file this by early July.
They said that Prism is currently evaluating market conditions and broader listing timelines while preparing to file its UDRHP-1.
Earlier in February this year, PRISM announced the appointment of former SEBI Chairman Ajay Tyagi as an Independent Director on its Board. His appointment came as PRISM aimed to further strengthen its board and governance framework as it strives to grow and access the public markets.
“Tyagi joins an experienced board with expertise across governance, consumer businesses, technology and strategic investments,” OYO said in a statement.
The board comprises Independent Directors, including William Steve Albrecht, the Dr Jay H Price/Arthur Andersen Endowed Professor of Accountancy at Utah State University; Troy Matthew Alstead, former CFO and group president of Starbucks Corporation; Deepa Malik, Padma Shri awardee; Bejul Somaia, partner at Lightspeed Venture Partners; Sumer Juneja, Non-Executive Nominee Director and Managing Partner at Softbank Investment Advisers; and Aditya Ghosh, Non-Executive Nominee Director and Co-Founder of Akasa Air.
