Oyo’s parent company Prism Hotels and Resorts has cleared a key regulatory hurdle after receiving approval from capital markets regulator Sebi for its long-awaited IPO, marking a significant step in one of India’s most closely watched startup listings. The approval allows the hospitality firm, which owns the budget hotel chain Oyo, to move ahead with plans for a public issue estimated at Rs 6,650 crore, according to people familiar with the development.
The Sebi nod comes after multiple earlier attempts by the company to tap capital markets, including a high-profile filing in 2021 that was later withdrawn amid changing market conditions and internal restructuring. This time, the listing effort is being pursued under the rebranded parent entity Prism, reflecting a broader attempt to reposition the business after years of volatility in valuations and strategy shifts.
