Oyo’s long-awaited stock market debut has moved a step closer. Prism, the parent company of the travel technology unicorn, has received approval from Sebi to launch its proposed initial public offering (IPO), according to people familiar with the matter.
The company is looking to raise Rs 6,650 crore through the public issue, marking one of the most closely watched plans in India’s start-up space.
People aware of the development said the proposed IPO is expected to value Prism at around $7 billion to $8 billion.
The approval comes months after the company confidentially filed its draft IPO papers with Sebi at the end of December 2025. The confidential filing route allows companies to seek regulatory feedback before publicly disclosing detailed financial and business information.
Before filing for the IPO, Prism secured shareholder approval during an Extraordinary General Meeting (EGM) held on December 20, 2025.
At the meeting, shareholders approved the company’s plan to raise up to Rs 6,650 crore through a fresh issue of equity shares.
The fundraising is expected to support the company’s future growth plans and strengthen its position in the hospitality and travel technology sector.
Following Sebi’s approval, the company is now expected to file an Updated Draft Red Herring Prospectus (UDRHP-1), which will be made available for public review and comments.
Under the process, the document will remain open for public comments for 21 days after it is filed.
People familiar with the matter said Prism is likely to submit the updated prospectus by early July.
While the regulatory approval marks a significant milestone, the final timing of the IPO will depend on market conditions.
Sources said the company is currently assessing investor sentiment and broader market trends before deciding on the exact launch schedule.
With Sebi’s clearance now in hand, Prism has entered the final stages of preparation for what could become one of the biggest technology-focused public offerings in India in recent years.