OYO IPO Back On Track! Parent Firm PRISM Gets SEBI Nod For D-Street Debut | IPO Timeline Revealed!

OYO IPO Alert: In a major update for the primary market investors, hospitality giant tech firm, PRISM, reportedly received approval for its initial public offering (IPO). The OYO-parent firm received a nod from the Securities and Exchange Board of India (SEBI) to bring its IPO, reported CNBC TV 18 citing sources.

The development came months after PRISM had filed its confidential Draft Red Herring Prospectus (DRHP) in December 2025. Earlier, the company's shareholders approved its plans to raise nearly Rs 6,650 crore through fresh issue of shares.

The confidential DRHP filing allows companies to begin their review process, they are not even required to disclose the detailed financial and business information to the public.
The company will reportedly submit its updated DRHP after receiving SEBI's observations.

PRISM IPO Valuation

The IPO launch planning reportedly hints at a $7-8 billion valuation of PRISM. While the company has planned to file its updated DRHP in the coming months, the OYO parent firm's IPO timeline is subject to changes based on the current market conditions.
The Indian stock market saw massive volatility over the past few months due to the West Asia crisis and heightened uncertainty due to elevated crude oil prices and Strait of Hormuz blockade.

PRISM IPO Timeline

As per CNBC TV 18 report, OYO's parent firm has planned to launch its updated DRHP in July this year. Once filed, the document will be open for public comments for a period of 21 days. The updated DRHP filing will be followed by the listing process. The proposed listing is one of the much awaited and closely tracked IPO processes among primary market investors.

The IPO is expected to be one of the closely watched IPOs in India's consumer tech and hospitality space.

PRISM IPO Book Running Lead Managers

The company has hired top names as its book running lead managers. As per CNBC TV 18 report, the list includes Citibank, Axis Bank, ICICI Securities, SBI Capital Markets, JM Financial, InCred Capital and Intensive FIscal Services.

About PRISM

PRISM's (earlier branded as Oravel Stays Limited) operating profit stood at Rs 412 crore in the financial year 2024-25, and its operational EPS stood at Rs 0.64 per share. The company had reported an EBITDA of Rs 1,100 crore during FY 25, and its gross booking value grew by 53% to Rs 16,250 crore in FY25.

PRISM's estimated profit after tax is likely to be Rs 200 crore in the fourth quarter of financial year 2025-26, which is more than double of Q1FY25 PAT of Rs 87 crore. The firm's revenue is expected to grow by 47% to Rs 2019 crore. Its Gross Booking Value (GBV) is expected to reach Rs 7,227 crore, a significant 144% increase year-on-year.