Prism Hotels Limited, the parent company of the OYO brand, has filed updated draft red herring prospectus (DRHP) documents for an initial public offering valued at ₹6,650 crore.
The filing marks a significant step forward for the hospitality giant, which previously utilized the confidential pre-filing route in December 2025 to keep offer details private until this stage.
A key feature of the updated filing is the structure of the share sale.
Existing investors are not participating in the offer for sale, meaning the proceeds will be directed entirely toward the company's capital requirements rather than facilitating exits for early backers.
This approach aligns with a broader trend among large Indian tech and hospitality IPOs, such as Jio Platforms, where issuers prioritize business expansion over shareholder liquidity.
The company also indicated it may undertake a pre-IPO placement of up to ₹1,330 crore before filing the final red herring prospectus (RHP).