Oyo parent Prism gets shareholder nod for $742m IPO
Prism, the parent company of Oyo Hotels, has received shareholder approval to raise up to 66.5 billion rupees ($742 million) through a fresh equity issue as part of a planned initial public offering (IPO), a regulatory filing showed.
The approval, granted at a meeting on Saturday, does not set a specific IPO date, allowing Prism flexibility to enter the public markets when conditions are favorable. Prism, formerly known as Oravel Stays, first filed for an IPO in 2021 and postponed multiple times, including a brief revival in March 2023, News.Az reports, citing Reuters.
The company posted a 16% year-on-year revenue increase to 62.53 billion rupees for FY2025, with net profit rising 6.6% to 2.45 billion rupees. Prism also marked its twelfth consecutive EBITDA-positive quarter, driven by expansion in premium segments, acquisitions, and technology-led operations.
The news comes months after Oyo delayed its third IPO attempt amid opposition from major shareholder SoftBank, which had raised concerns over the timing and valuation.
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