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Prism, the parent company of travel technology firm Oyo, has received approval from the Securities and Exchange Board of India (Sebi) to launch its proposed initial public offering (IPO) worth INR 6,650 crore. The company had submitted its draft papers through the confidential filing route late last year and is now preparing to move to the next stage of the listing process. The IPO is expected to value the company between USD 7 billion and USD 8 billion. Prism is also assessing market conditions before finalising its public filing and broader listing timeline.
Prism, the parent company of global travel technology unicorn Oyo, has secured regulatory approval from the Securities and Exchange Board of India (Sebi) to proceed with its proposed initial public offering (IPO) of INR 6,650 crore, according to people familiar with the matter.
The proposed public issue is expected to value the company in the range of USD 7 billion to USD 8 billion, reflecting investor interest in one of India's most prominent travel and hospitality technology platforms.
The development follows Prism's confidential filing of preliminary IPO documents with Sebi in late 2025. The company opted for the confidential pre-filing route, a mechanism that allows issuers to begin the regulatory review process without immediately disclosing detailed financial and operational information to the public.
Prior to the filing, shareholders had approved the fundraising plan at an Extraordinary General Meeting held late last year. The approval authorised the company to raise up to INR 6,650 crore through a fresh issue of equity shares as part of its public listing plans.
With Sebi's clearance now in place, Prism is expected to file an Updated Draft Red Herring Prospectus (UDRHP-1), which will be made available for public review and comments for a period of 21 days. People aware of the matter indicated that the company is targeting an early July filing for the document.
Sources further indicated that Prism is currently reviewing market conditions and evaluating the most suitable timeline for its public listing. The company is continuing preparations for the next stage of the IPO process while monitoring investor sentiment and broader capital market trends.
The proposed listing marks another significant step in Oyo's long-awaited public market journey. Over the past few years, the company has focused on improving profitability, streamlining operations and strengthening its presence across global markets as it works towards a public market debut.
Source PTI
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