Prism, the parent company of global travel-tech unicorn OYO, is targeting to launch its ₹6,650 crore initial public offering (IPO) during the current fiscal year (FY 2026-27). According to reports from ET Now, founder and CEO Ritesh Agarwal stated that the company expects to launch the public issue within the current financial year, with final pricing to be determined closer to launch. The proposed public issue is structured as a 100% book-built offering consisting entirely of a fresh issue of equity shares worth up to ₹6,650 crore, with no offer-for-sale (OFS) component.
The company initially submitted its draft red herring prospectus (DRHP) through the confidential pre-filing route in December 2025. As reported by ET Now, Prism subsequently filed an updated draft prospectus with capital markets regulator SEBI on June 30, 2026. The updated filing represents the company's commitment to maintaining regulatory compliance while preparing for the public offering launch.
According to the offer documents reported by ET Now, Prism plans to utilize ₹4,987.5 crore from the net proceeds toward the repayment or prepayment of outstanding borrowings. The remaining capital will be allocated for general corporate purposes. This strategic approach demonstrates the company's focus on strengthening its balance sheet while maintaining flexibility for future growth initiatives.
Agarwal highlighted significant tourism opportunities around the upcoming Simhastha Kumbh in Nashik, drawing parallels with the record gatherings seen at the Maha Kumbh in Prayagraj. As reported by ET Now, he stated that the company hosted over 1 lakh guests during the previous Maha Kumbh and expects the upcoming Simhastha Kumbh in Nashik to easily reach a similar level. To prepare for the visitor influx, OYO is creating new infrastructure and hotels, including four-star properties under its Sunday Hotels brand, in the Nashik region.
