Oyo IPO: Parent Prism Files Updated DRHP for Rs 6,650 Crore Public Issue at 7 to 8 Billion Dollar Valuation

Oyo IPO: Prism files updated DRHP for Rs 6,650 crore issue. Eyes 7 to 8 billion dollar valuation. Third IPO attempt after 2021 and 2023. SEBI cleared 2 June.

The Oyo IPO is back in the spotlight after Prism, the parent company of the hospitality platform, filed its updated Draft Red Herring Prospectus for a Rs 6,650 crore public issue. The filing follows SEBI’s clearance of the company’s confidential draft papers earlier this month and marks the next formal step toward a stock market debut that has been in the making since 2021.

The Oyo IPO is expected to value Prism in the range of 7 to 8 billion dollars, according to people familiar with the matter, as the company looks to capitalise on improving profitability and a stronger international footprint compared with its earlier listing attempts.

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Oyo IPO Timeline: Third Attempt at Going Public

This marks Prism’s third attempt at tapping the primary market. The company first filed for an IPO in 2021, targeting Rs 8,430 crore at a valuation of up to 12 billion dollars, before that attempt did not materialise. A revised filing in 2023 was subsequently withdrawn in 2024 amid weak market sentiment for new age technology stocks. The current Oyo IPO push follows shareholder approval for the fundraise at an Extraordinary General Meeting held on 20 December 2025, after which Prism filed its confidential DRHP with SEBI through the confidential pre filing route.

SEBI issued its observations on the draft papers between 1 and 5 June 2026, effectively clearing the issue to proceed. With the updated DRHP now filed, the document will be open for public comments for 21 days before Prism can move toward finalising the price band and listing timeline.

The table below summarises the key details of the Oyo IPO as known so far.

Oyo IPO Financials and Use of Proceeds

Prism’s audited FY25 annual report shows a profit after tax of Rs 244.8 crore, up 7 percent from Rs 229.6 crore in FY24, with the company reporting 12 consecutive profitable quarters. Moody’s expects FY26 EBITDA to exceed 280 million dollars, or roughly Rs 2,400 crore, and has reaffirmed a B2 corporate family rating with a stable outlook ahead of the Oyo IPO. Use the Univest Screener to track other recently listed new age technology companies while you wait for Prism’s price band announcement.

Given the company carries more than Rs 7,000 crore in liabilities and incurred Rs 959 crore in finance costs in FY25, debt repayment is widely expected to be a key use of proceeds from the Oyo IPO, alongside funding for continued international expansion across markets including the United States and Europe.

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What Should Investors Watch Ahead of the Oyo IPO

Investors tracking the Oyo IPO should watch for the price band announcement, which typically follows the 21 day public comment period on the updated DRHP, along with the final use of proceeds breakdown and detailed risk factors that will be disclosed in the document. The book running lead managers for the issue include Axis Capital, Citigroup, Goldman Sachs, ICICI Securities, SBI Capital Markets, JM Financial, InCred Capital and Intensive Fiscal Services.

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Conclusion

The Oyo IPO has reached a key milestone with Prism filing its updated DRHP for the Rs 6,650 crore issue, setting the stage for a public comment period before the price band and listing timeline are finalised. After two earlier attempts in 2021 and 2023 fell through, the company now approaches the market with stronger profitability metrics and a more international business mix. IPO investments are subject to market risk, so investors should consult a SEBI registered advisor and study the full prospectus before making any investment decision.

Frequently Asked Questions

What is the size of the Oyo IPO?

Ans. The Oyo IPO, through parent company Prism, is expected to raise up to Rs 6,650 crore, with the updated DRHP now filed with SEBI.

What valuation is the Oyo IPO targeting?

Ans. The Oyo IPO is expected to value Prism in the range of 7 to 8 billion dollars, according to people familiar with the matter.

Is this Prism’s first attempt at an IPO?

Ans. No, this is Prism’s third attempt. The company first filed for an IPO in 2021 targeting a 12 billion dollar valuation, and a revised 2023 filing was later withdrawn amid weak market sentiment.

When will the Oyo IPO open for subscription?

Ans. No subscription date has been announced yet. The updated DRHP will be open for public comments for 21 days, after which the price band and final listing timeline will be decided.

What will Prism use the Oyo IPO proceeds for?

Ans. While the full breakdown is yet to be disclosed, debt repayment is widely expected to be a key use of proceeds given the company’s liabilities, along with funding for international expansion.

How profitable is Oyo’s parent Prism?

Ans. Prism’s audited FY25 annual report shows a profit after tax of Rs 244.8 crore, up 7 percent year on year, with the company reporting 12 consecutive profitable quarters.

Who are the lead managers for the Oyo IPO?

Ans. The book running lead managers include Axis Capital, Citigroup, Goldman Sachs, ICICI Securities, SBI Capital Markets, JM Financial, InCred Capital and Intensive Fiscal Services.