Oyo-Parent Prism Gets Green Light From Indian Regulator for IPO
Photo Credit: Pictured: Ritesh Agarwal, CEO of Oyo (left), and Skift CEO Rafat Ali Skift
Skift Take
Prism’s SEBI approval signals IPO momentum, but timing remains cautious. Stronger profits, Motel 6 integration, and premium expansion may finally give Oyo’s parent company the public-market credibility it previously lacked.
Prism, the parent company of Oyo, has received approval from India's capital markets regulator SEBI for its proposed IPO, people aware of the development told Skift. The green light marks the most significant regulatory milestone yet in the company's long-running push to go public.
The company is now targeting July to file a public Updated Draft Red Herring Prospectus, which will be open for public comments for 21 days, the sources said.
Prism had filed its initial prospectus at the end of December after receiving shareholder approval to raise up to INR 6.6 billion ($692 million). The proposed offering is expected to value Prism at approximately $7–$8 billion, according to people familiar with the matter. That w
