- PRISM targets $700M IPO this fiscal year.
- Company to set IPO price before launch.
- About $525M earmarked for debt repayment.
OYO PARENT PRISM plans to launch a $700 million or ₹6,650 crore initial public offering this fiscal year, founder and CEO Ritesh Agarwal said. The company will set the IPO price before launch.
PRISM filed a draft red herring prospectus through the confidential route in December 2025. It submitted an updated draft to the Securities and Exchange Board of India on June 30.
“Hopefully, we will launch the IPO in the current financial year itself. We will see the pricing before we launch the IPO,” Agarwal told PTI on the sidelines of Global Fintech Fest 2026.
PRISM is led by founder and group chief executive officer Ritesh Agarwal, who also chairs G6 Hospitality, parent of Motel 6 and Studio 6.
The IPO will consist of a fresh issue of equity shares worth up to $700 million, with no offer-for-sale component. Existing shareholders will not sell shares in the issue. It recently launched investor roadshows for its IPO.
PRISM plans to use about $525 million or ₹4,987.5 crore of the proceeds to repay or prepay outstanding borrowings. The remaining funds will go toward general corporate purposes.
Agarwal expects more tourism activity around the upcoming Simhastha Kumbh in Nashik. He compared the event with the Maha Kumbh in Prayagraj, where OYO hosted more than 100,000 guests.
“Whether you are Gen Z, Gen Alpha, Millennial or Baby Boomer, everybody was in Prayagraj,” Agarwal said.
He said the Nashik event could easily reach a similar level of demand. OYO is adding infrastructure and hotels in the region for the event.
It is also developing four-star properties under its Sunday Hotels brand.
Agarwal said tourism activity in Prayagraj has continued since the Maha Kumbh.
He said visitors wanted to return after experiencing the calm of being near the Ganges. He expects a similar trend in Nashik.
Prism’s fiscal 2026 net profit rose more than fourfold to about $104 million from $25.6 million a year earlier. North America led growth.
