Oyo’s parent company, Prism, is making its third IPO attempt this summer — and the numbers in an updated prospectus filed Tuesday show a business barely recognizable from the Indian hospitality startup that first tried to go public in 2021.

Its U.S. motel business, G6 Hospitality, now drives more of the company’s profit than the rest of Prism combined, the filing shows. The U.S. accounts for more than half of gross booking value, while India contributes about 12%.

It plans to raise roughly $700 million in the IPO and roughly three-fourths will go to paying down the debt it took on to buy G6 Hospitality, owner of Motel 6 in the U.S.

Here are the key details from the filing.

The U.S. Dominates

Having built its identity as an Indian hospitality company expanding overseas, today, the U.S. is by far its largest market.

During the first nine months of fiscal 2026, the U.S. accounted for more than half of the Prism’s gro