Prism, parent of hospitality company Oyo, filed an updated draft prospectus with India’s markets regulator on June 30.

The company aims to raise 66.5 billion rupees (US$704 million) initial public offering (IPO) made up entirely of new shares, with all proceeds going to the company.

The filing said Prism could raise up to 13.3 billion rupees (US$141 million) in a pre-IPO placement before filing its red herring prospectus. If that happens, the fresh issue size would be reduced accordingly.

Prism plans to use 49.9 billion rupees (US$528 million) of net proceeds to repay or prepay borrowings, and the rest for general corporate purposes.

The updated filing follows Sebi’s approval earlier this month, moving Oyo one step closer to its public listing.

Prism, which changed its name from Oravel Stays last September, previously submitted its confidential draft in December 2025.

For the nine months ended December 31, 2025, Prism reported 69.4 billion rupees (US$734 million) in revenue from operations and 7.5 billion rupees (US$79.1 million) in net profit. More than 84% of operating revenue came from outside India.

🔗 Source: The Economic Times

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