Major institutional backers of Prism Hotels Limited, the parent company of the OYO brand, have decided to retain their stakes in the company's upcoming initial public offering.
Airbnb, SoftBank, and Sequoia Capital are among the marquee investors who will not be selling any shares in the listing, according to reports from Hindu Businessline.
The decision by these anchor investors to hold rather than exit is a significant signal for the market.
By focusing on financial enhancement rather than liquidity events, these backers are effectively reducing the potential sell-side pressure that often accompanies large IPOs.
This retention strategy suggests strong internal confidence in the valuation and future growth trajectory of the hospitality platform.
Prism Hotels has been advancing its listing plans, having previously submitted an updated Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (Sebi).