BREAKING | July 4, 2026 | Business & Startups
After five years, three attempts, one complete company restructuring, and a valuation reset from $12 billion to $7–8 billion, OYO is finally, genuinely, almost certainly going public. On June 30, 2026, PRISM — formerly Oravel Stays Limited, the parent company of OYO — filed its Updated Draft Red Herring Prospectus with SEBI for its proposed IPO. The issue is a 100% fresh issue of ₹6,650 crore with no Offer for Sale component, meaning every rupee raised goes to the company.
Existing investors including SoftBank’s SVF India Holdings, Ritesh Agarwal, Microsoft, Airbnb, Lightspeed, Peak XV Partners, Khazanah Nasional, and Greenoaks Capital are not selling shares in the IPO. For retail investors, that is one of the most important signals in the entire prospectus: none of the early investors are rushing for the exit.
PRISM operates a technology-driven hospitality platform across more than 35 countries with over 24,000 hotels and 1,24,668 homes on its platform as of December 2025. Its portfolio includes OYO, Sunday, Townhouse, Palette, Motel 6, Studio 6, Belvilla, and DanCenter.
The financial story has genuinely improved. For the nine months ended December 31, 2025, PRISM reported revenue of ₹6,940.97 crore and a profit after tax of ₹748.34 crore — compared to PAT of ₹244.82 crore in full-year FY25.
The listing is expected in the second week of August 2026 on both NSE and BSE. The 21-day public comment window on the UDRHP has already begun. The final Red Herring Prospectus with price band is expected by mid-July, opening the subscription window in early August.
The IPO is OYO’s third attempt to list. The first filing in October 2021 targeted $12 billion. Multiple refiling rounds, a complete business restructuring, and a significant valuation reset later — the company has finally received regulatory go-ahead.
Ritesh Agarwal was 19 when he founded OYO from a single rented room in Oris Hotel in Rourkela. He will be 33 when OYO lists in August. The journey has been anything but straight. The destination — India’s stock exchange — is now finally in sight.
All data sourced from SEBI filings, IPOMarket.in, and DailyHunt as of June 30–July 4, 2026.
