Prism Business Suites Receives Sebi Nod for ₹6,650 Crore IPO Listing

Prism Secures Sebi Approval for ₹6,650 Crore IPO

Prism, the parent company of hospitality platform Oyo, has received approval from the Securities and Exchange Board of India (Sebi) to proceed with its proposed ₹6,650 crore initial public offering (IPO), according to news agency PTI. This development was reported on Tuesday, citing people familiar with the matter.

The proposed public offering is expected to value the company between $7 and $8 billion, according to sources. Prism filed its draft red herring prospectus (DRHP) or preliminary IPO papers with Sebi in late December 2025 through the confidential pre-filing route. This route allows companies to begin the regulatory review process without immediately disclosing sensitive business and financial details to the public, providing more flexibility before formally launching the public issue.

The filing followed shareholders' approval at an Extraordinary General Meeting (EGM) held on December 20, 2025, where the company received consent to raise up to ₹6,650 crore through a fresh issue of equity shares, according to the news report by PTI. Prism had filed its IPO papers in December, marking a significant milestone in its journey towards a public listing.

Read also: SMR Jewels IPO Successfully Lists with Institutional Support

Following Sebi's approval, the company's next step will be to file a public Updated Draft Red Herring Prospectus (UDRHP-1), which is expected to disclose key details of the proposed IPO and will be available for public review. Under the regulatory process, the document will remain open for public comments for 21 days, allowing investors and other stakeholders to provide feedback. According to people familiar with the development, the company is targeting to file this by early July, the news report said.

Once this stage is completed and any observations are addressed, Prism will be able to move ahead with the final stages of its IPO process. The price band and date of opening the issue for subscription is expected to be announced in the later stages. Prism is currently evaluating market conditions and broader listing timelines while preparing to file its UDRHP-1.