Oyo parent Prism files confidential IPO papers; seeks to raise Rs 6,650 crore

MUMBAI: Prism, the parent company of Oyo, has filed draft IPO papers with markets regulator Securities and Exchange Board of India (SEBI) through the confidential route, people aware of the matter said, making its third attempt at going public. The company is seeking to raise up to Rs 6,650 crore through fresh issues of shares and is targeting a valuation of $7-$8 billion, they said.Oyo declined to comment.The SoftBank backed firm joins a clutch of startups including Zepto, PhonePe and Flipkart which are eyeing a listing on the bourses in 2026. India’s booming IPO market has allowed new age companies to access public markets for growth and give exit to early investors. As of now, Oyo has no plans to launch an offer for sale (OFS) as part of its IPO, the people said. In all, about 197 companies have either received regulatory clearance or are awaiting approval from Sebi, representing potential fund mobilisation of around $31 billion through IPOs in 2026. Weak markets and Oyo’s push towards profitability delayed the company’s IPO plans initially started in 2021. A confidential filing gives firms flexibility to plan issue timing, reduces market scrutiny during the regulatory review process, and enables issuers to test investor appetite before launching the IPO. Oyo posted net profits of over Rs 200 crore in Q1FY26. It acquired US-based G6 Hospitality, the economy lodging franchisor, operator of Motel 6 and Studio 6, boosting its international footprint.