PRISM, the parent company of OYO, has filed an updated draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a fresh issue-only initial public offering (IPO) worth ₹6,650 crore. This marks PRISM’s third attempt to go public after shelving plans in 2021 and a confidential refiling in 2023. The company rebranded from OYO to PRISM last year and is repositioning as a global hospitality platform, according to inc42.com.
The fresh issue comprises solely new shares, with no offer for sale from existing shareholders. Founder and group CEO Ritesh Agarwal has increased his stake in the company, directly holding 6.59% and indirectly owning 23.93% through his investment vehicles RA Hospitality Holdings and Patient Capital Investments. SoftBank, through SVF India Holdings (Cayman) Limited, remains the largest shareholder with a 40.04% stake. PRISM’s cap table includes over 81,800 shareholders and 26 promoter group entities, reflecting a broad ownership structure.
PRISM operates a diversified hospitality portfolio with 13 subsidiaries and two joint ventures as of March 2025. Its brands include OYO, Motel 6, and Studio 6, spanning hotels, resorts, vacation rentals, and coworking spaces. The fresh issue aims to support PRISM’s global expansion and business repositioning. The move follows a trend of hospitality companies seeking capital to scale operations and compete internationally, with SoftBank’s significant backing underscoring investor confidence.
The company’s updated DRHP filing with SEBI was made public in late June 2026, setting the stage for regulatory review and potential market debut. PRISM’s IPO will be closely watched as it represents a major capital raise in India’s hospitality sector, with the ₹6,650 crore fresh issue positioned to fuel its growth ambitions.