OYO Parent Prism Aiming for IPO Launch in Current Fiscal

Mumbai: The parent company of global travel-tech unicorn OYO, Prism, is aiming to launch its Rs 6,650-crore initial public offering (IPO) in the current fiscal, according to its founder Ritesh Agarwal.

“Hopefully, we will launch the IPO in the current financial year itself. We will see the pricing before we launch the IPO,” Ritesh Agarwal, founder and chief executive officer of Prism, told PTI on the sidelines of Global Fintech Fest 2026.

The company had initially filed a draft red herring prospectus (DRHP) through confidential route in December 2025 and submitted an updated draft to the Securities and Exchange Board of India (Sebi) on June 30, 2026.

Unlike many IPOs, the proposed issue comprises only a fresh issue of equity shares worth up to Rs 6,650 crore, with no offer-for-sale (OFS) component.

According to the draft prospectus, Rs 4,987.5 crore from the net proceeds will be used to repay or prepay outstanding borrowings, while the remainder will be allocated toward general corporate purposes.

Meanwhile, Agarwal said OYO expects strong tourism activity around the upcoming Simhastha Kumbh in Nashik, drawing parallels with the Maha Kumbh in Prayagraj, which he described as one of the biggest such gatherings ever.

“Whether you are Gen Z, Gen Alpha, Millennial or Baby Boomer, everybody was in Prayagraj,” Agarwal said, adding that the company had hosted over 1 lakh guests during the previous Maha Kumbh and expects the upcoming Simhastha Kumbh in Nashik to easily reach a similar level.

He said OYO is preparing for the event by creating new infrastructure and hotels, including four-star properties under its Sunday Hotels brand, in the region.

Agarwal said the strong tourism activity in Prayagraj has continued as visitors experienced the calmness of being around the holy Ganges and wanted to return, adding that he expects a similar trend in Nashik.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)