NEW DELHI: Oyo Hotels-parent Prism has confidentially filed for an initial public offering (IPO) in India, three sources tell Reuters on Wednesday, marking a fresh push by the homegrown hospitality brand to tap public markets.
The confidential filing comes days after the SoftBank-backed firm received shareholders’ approval to raise up to US$742.04mil via a fresh issue of shares.
One source said the company is seeking a valuation of US$7bil to US$8bil.
Oyo did not immediately respond to a Reuters request for comment.
Oyo first filed for an IPO in 2021, targeting a valuation of up to US$12bil, but withdrew the plans.
In India, a confidential filing allows companies to submit draft IPO papers to the Securities and Exchange Board of India for review without making them public until they decide to proceed with the offering.
The company posted a 16% year-on-year rise in revenue to 62.53 billion rupees (US$696mil) for financial year 2025. Net profit after exceptional items increased by 6.6% to 2.45 billion rupees. — Reuters
