PRISM, the parent company of hospitality platform OYO, has received shareholder approval to raise up to Rs 6,650 crore through a fresh issue of equity shares as part of its proposed IPO (Initial Public Offering). The approval marks a key step in the company’s renewed effort to list on Indian stock exchanges.
The decision was cleared at an Extraordinary General Meeting held on December 20, 2025. Shareholders approved a special resolution allowing the company to proceed with the IPO, subject to regulatory clearances and prevailing market conditions.
In the same meeting, shareholders also approved a bonus issue of equity shares in the ratio of 1:19. December 5, 2025, has been fixed as the record date to determine the eligibility of shareholders for the bonus shares.
IPO Plans Revive
The latest approvals come as PRISM advances its preparations for a public listing after multiple delays in earlier years. The company had previously deferred its IPO amid concerns related to corporate governance, valuation expectations, and long-term business sustainability.
Since then, PRISM has undertaken several structural changes, including simplifying its capital structure and raising funds through private placements. These steps are seen as part of efforts to strengthen the balance sheet and improve investor confidence ahead of a market debut.
Earlier this year, the company formally changed its name from Oravel Stays to PRISM. The rebranding reflects a broader positioning as a travel and technology platform, moving beyond its earlier identity as a budget hospitality-focused business.
Business Overview
Founded in 2012, the company operates OYO, which functions as a global hospitality technology platform. OYO partners with property owners to offer standardised hotels, homes, and living spaces across multiple markets, supported by technology-led booking, operations, and revenue management systems.
Over the years, the platform has expanded its presence across domestic and international markets. Its business model focuses on asset-light partnerships, with technology playing a central role in pricing, demand forecasting, and operational efficiency.
The company’s performance in recent quarters has shown improvement. In the first quarter of the current financial year, OYO reported a profit after tax of over Rs 200 crore, more than double the Rs 87 crore reported in the same period last year.
Financial Performance
During the same quarter, revenue increased 47 percent year on year to Rs 2,019 crore. Gross Booking Value also rose sharply, increasing 144 percent to Rs 7,227 crore from Rs 2,966 crore in the corresponding period a year earlier.
For the full financial year ended FY25, PRISM reported revenue of around Rs 6,253 crore, reflecting a year-on-year growth of about 16 percent. Profit after tax for the year stood at Rs 244.8 crore, compared with Rs 229.6 crore in the previous financial year.
The improved financial metrics are likely to be closely watched as the company moves ahead with its IPO plans. Market participants are expected to assess the sustainability of profitability, growth momentum, and execution of the company’s broader travel-tech strategy.
While timelines for the IPO have not been disclosed, the shareholder approvals indicate that PRISM is actively laying the groundwork for a potential listing. The final size, structure, and timing of the offering will depend on regulatory approvals and market conditions at the time of launch.
