Prism Hotels Limited, the parent company of the OYO brand, has submitted an updated Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (Sebi) for an initial public offering valued at ₹6,650 crore.
The filing represents a significant step forward in the company's long-planned public debut, moving the process from preliminary drafts to a more advanced stage of regulatory review.
The proposed IPO consists entirely of a fresh issue of equity shares, with no offer-for-sale component included in this round.
This structure indicates that the proceeds will be raised directly by the company rather than distributed to existing shareholders, suggesting the capital will be utilized for corporate purposes such as debt reduction, working capital, or expansion initiatives.
The absence of an offer-for-sale often signals a focus on strengthening the balance sheet rather than providing an exit route for early investors at this stage.
The filing comes amid a broader resurgence in India's IPO market, where investor appetite for new listings has remained robust.