Oyo-Parent Prism Files for IPO, Seeks $7+ Billion Valuation

Prism, Oyo’s parent company, took its next step toward an IPO Wednesday, filing draft papers with India’s markets regulator. The proposed IPO would raise up to INR 66 billion (nearly $750 million) and value the company at roughly $7–8 billion, sources close to the company told Skift.

Prism submitted the filing to the Securities and Exchange Board of India (SEBI) using its confidential pre-filing process, which allows companies to test regulatory feedback before publicly launching an offering and gives them more flexibility on timing.

If it goes off as planned, a Prism IPO would be the largest the Indian travel sector has ever seen, almost twice the size of The Leela Palaces & Resorts’ listing earlier this year.