Oyo-Parent Prism Edges Toward a Third IPO Attempt With New Plan to Raise $744 Million
Photo Credit: Prism Group CEO and Founder Ritesh Agarwal at Skift Global Forum 2025. Skift
Skift Take
After two abandoned IPO attempts, the latest notice has a sense of deja vu. But Prism wants back in, and this time it’s turning up with a financial book that looks far sturdier.
Oyo’s parent company, Prism, is once again making preparations to head to the public markets. The company has called an Extraordinary General Meeting (EGM) for December 20, where it will ask shareholders for permission to raise INR 66.5 billion ($744 million) through a fresh issue of shares.
Prism has not commented on the potential valuation it will seek, and the EGM documents that were accessed by Skift do not reference any valuation band or offer price expectations. But Prism's planned IPO could be one of India's largest in recent times for travel companies.
This is not Prism’s first attempt at a public listing. Its 2021 filing, which targeted raising more than $1 billion, stalled. The company made another attempt in 2023, but withdrew it after SoftBank, Prism’s largest investor, cut its valuation.
But the company never completely stepped awa
