• PRISM submitted draft IPO papers to SEBI through the confidential route, marking a renewed push toward a public listing.
• Investors approved a plan to raise up to Rs 6,650 crore through a fresh issue of equity shares at a recent EGM.
• The company reported strong profit growth and expanded its global presence through new brands and overseas acquisitions.

PRISM, the parent company of hospitality major OYO, has filed confidential draft initial public offering (IPO) papers with the Securities and Exchange Board of India (SEBI), according to sources familiar with the matter. The move signals a fresh push toward a public listing after earlier plans were put on hold.

The filing comes after PRISM received shareholder approval at an Extraordinary General Meeting held on December 20. Shareholders cleared the proposal to raise up to Rs 6,650 crore through a fresh issue of equity shares. People aware of the discussions said the upcoming IPO could value the company between $7 billion and $8 billion.

PRISM has appointed several major investment banks to manage the proposed offering. These include ICICI Securities, Axis Capital, Goldman Sachs, and Citibank, with additional banks joining the syndicate over time.

This is not PRISM’s first attempt to go public. The company began its IPO process in 2021 and submitted draft documents to SEBI. It later filed revised papers with updated financial and operational details. However, PRISM withdrew the plans due to high global market volatility.

Since then, the company has strengthened its business across domestic and international markets. It expanded its premium hotel portfolio through brands such as SUNDAY Hotels and Palette. PRISM also boosted its global presence by acquiring US-based G6 Hospitality, which operates Motel 6 and Studio 6 brands.

Financially, the company has shown improvement. For the quarter ended June 2025 (Q1 FY26), PRISM reported a net profit of over Rs 200 crore and revenue of Rs 2,019 crore, reflecting stronger operating performance.

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The confidential IPO filing route is becoming popular among new-age companies seeking flexibility and reduced market exposure during early regulatory review. Several startups and consumer internet firms, including PhonePe, Swiggy, Meesho, Groww, PhysicsWallah, Zepto, and Tata Play, have used or explored this option in recent years.

PRISM’s move adds to the growing pipeline of startup-led IPOs expected to shape India’s capital markets.