PRISM Receives SEBI Approval for IPO Filing

The company had filed its draft red herring prospectus (DRHP) on a confidential basis with SEBI in December 2025.

By Entrepreneur Staff | Jun 03, 2026

PRISM

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PRISM, the parent company of hospitality technology firm OYO, has received approval from SEBI for its proposed initial public offering (IPO), according to Entrackr media reports.

The company had filed its draft red herring prospectus (DRHP) on a confidential basis with SEBI in December 2025. The filing followed approval from shareholders at an extraordinary general meeting held on December 20, 2025, where investors cleared a proposal to raise up to INR 6,650 crore through a fresh issue of equity shares.

PRISM has appointed several investment banks as book-running lead managers for the issue, including Axis Capital, Citigroup Global Markets India, Goldman Sachs (India) Securities, ICICI Securities, SBI Capital Markets, JM Financial, InCred Capital, and Intensive Fiscal Services.

Following SEBI’s approval, the company is expected to file an updated draft red herring prospectus (UDRHP-1), which will remain open for public comments for 21 days. People familiar with the matter said the company is currently assessing market conditions before finalising its listing timeline.

The development comes as PRISM continues to expand its hospitality portfolio across India, US, and Europe. Over the past year, the company has increased its focus on self-operated hotels and premium hospitality brands such as Sunday Hotels and Palette Hotels. It has also entered the vacation rental segment in India through DanCenter and expanded its presence in religious tourism destinations.

In November 2025, PRISM appointed former SEBI chairman Ajay Tyagi as an independent director, strengthening its governance structure ahead of the IPO process.

Earlier, rating agency Moody’s reaffirmed PRISM’s B2 corporate family rating with a stable outlook. It projected that the company’s EBITDA could reach around USD 280 million (approximately INR 2,496 crore) in FY26, supported by the G6 Hospitality acquisition, expansion in premium segments, and operational improvements.

PRISM had first attempted a public listing in 2021 but deferred the plan due to changing market conditions. The latest approval marks a renewed step toward accessing public markets.

PRISM, the parent company of hospitality technology firm OYO, has received approval from SEBI for its proposed initial public offering (IPO), according to Entrackr media reports.