Upcoming IPO: Oyo’s parent company PRISM has received shareholders’ approval to raise up to ₹6,650 crore via a fresh equity issuance as part of its planned initial public offering (IPO), according to a regulatory filing released on Tuesday.
The budget hotel aggregator initially filed for an IPO in 2021, seeking a valuation of up to $12 billion. However, the company revived its listing plans in March 2023 through a confidential filing to the market regulator, but postponed the offering for the third time in May this year, having chosen to raise debt instead over the past few years.
At the EGM held on Saturday, shareholders of Prism—formerly Oravel Stays—approved a proposal to proceed with an IPO without setting a timeline, allowing the company the flexibility to access public markets when conditions are favourable.
Shareholders also gave their approval for a bonus issue, under which one fully paid-up equity share will be issued for every 19 equity shares currently held, with December 5, 2025 set as the record date to identify eligible shareholders.
Recently, Moody’s reaffirmed PRISM’s corporate family rating with a stable outlook and projects the company’s EBITDA to more than double to about $280 million (approximately ₹2,496 crore) in FY26, driven by the expansion of premium storefronts and sustained cost efficiencies.
Oyo’s financial performance
The company reported a 16% year-on-year increase in revenue to ₹62.53 billion in FY25, while net profit after exceptional items rose 6.6% to ₹2.45 billion.
It also delivered its twelfth consecutive EBITDA-positive quarter, supported by growth in premium offerings, successful integration of acquisitions, and technology-driven operations.
Revenue climbed 47% to ₹2,019 crore in the first quarter of FY26 from ₹1,371 crore in Q1 FY25, while Gross Booking Value (GBV) surged 144% year-on-year to ₹7,227 crore from ₹2,966 crore.
(With inputs from agencies)
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
