Sorry, Wall Street: Why Prism Picked India for its IPO

Prism, the parent company of Oyo, has now received shareholder approval for what could be the largest IPO the Indian travel sector has ever seen, almost twice the size of The Leela Palaces & Resorts’ listing earlier this year.

It could have easily gone to the U.S. for its IPO. Prism is global: It owns Motel 6 and Studio 6 in the U.S., as well as European leisure-home brands.

But it is choosing to list in India — a decision as symbolic as it is strategic.

“Young people in India see what we do at Prism as a great example of what an entrepreneurial ambition looks like,” said Prism Founder and CEO Ritesh Agarwal at the Skift Global Forum this year. “Listing in India is a great thing because you’re in a country where the average common person wants you to succeed.”

Why India, Why Now

To understand Prism’s choice, con