OYO IPO: PRISM gets shareholders' nod for raising up to ₹6,650 crore via fresh issue

OYO's parent firm, PRISM, has received shareholders' approval to raise up to ₹6,650 crore through a fresh issue of equity shares as part of its proposed Initial Public Offering (IPO).

The travel tech platform's shareholders greenlighted the proposal at an Extraordinary General Meeting (EGM) held on December 20, 2025.

At the EGM, shareholders approved the proposal to undertake the IPO, providing the company with the flexibility to access public markets at an appropriate time, subject to regulatory approvals and market conditions.

The EGM approval marks a significant step in PRISM's ongoing preparations for a public listing.

Moody's recently reaffirmed PRISM's corporate family rating with a stable outlook and expects the company's EBITDA to more than double to around $280 million (nearly ₹2,496 crore) in FY26, supported through expansion of premium shopfronts and continued cost efficiencies.

Meanwhile, in August this year various reports suggested that OYO may file its preliminary papers with market regulator Securities and Exchange Board of India (SEBI) in November 2025, looking for a valuation of around $7-8 billion for its initial public offering.

Ritesh Agarwal-led company has intensified discussions with key merchant bankers this year, and the valuation guidance is pegged at around $7-8 billion (around ₹70 per share), potentially in the range of 25-30 times the EBITDA.

Founded in 2012 by Agarwal, OYO serves more than 100 million customers across over 35 countries.

The group's portfolio spans hotels under brands like OYO, Motel 6, Townhouse, Sunday and Palette. In the vacation homes segment, it operates various brands, such as Belvilla, DanCenter, CheckMyGuest, and Studio Prestige. The extended stay category is represented by Studio 6, acquired through G6 Hospitality in the US.

Additionally, the portfolio encompasses workspaces and celebration spaces, offered through Innov8 and Weddingz.in. The group also offers hospitality technology solutions, including AI-driven partner tools and data science platforms.