Prism, the parent company of OYO, which started out as a budget hotel aggregator in India, now derives nearly 84 per cent of its revenue from global operations, supported by extensive international expansion in recent years, the firm’s updated draft papers filed with Sebi showed.
Prism has filed updated draft papers with the Securities and Exchange Board of India (SEBI) to raise up to ₹6,650 crore through a fresh issue, along with a possible pre-IPO placement of up to ₹1,330 crore, which would be adjusted against the final issue size.
The filing shows that while overseas markets now contribute the bulk of the company’s revenues, the business has become increasingly diversified across geographies and hospitality formats. Gross Booking Value (GBV) , which comprises bookings across PRISM’s hotels, homes and listings, is the company’s primary measure of operating scale.
As per the Updated Draft Red Herring Prospectus (UDRHP), for the nine months ended December 31, 2025, Prism reported a global GBV of ₹22,946.25 crore. The US was the largest contributor with ₹12,022.51 crore, marking 52.39 per cent of total global bookings.
Europe contributed ₹4,039.11 crore, or 17.60 per cent, India contributed ₹2,731.71 crore, or 11.91 per cent, while Southeast Asia and other international markets accounted for the rest.
For the nine months ended December 31, 2025, Prism’s revenue from operations stood at ₹6,940.97 crore. Overseas markets contributed 83.77 per cent to the total revenue, while India contributed 16.23 per cent.
Among overseas markets, the US accounted for 27.07 per cent of revenue from operations, Europe 23.62 per cent, and the United Kingdom 5.44 per cent.
The sharp increase in overseas contribution has largely been driven by the acquisition of G6 Hospitality, which owns the Motel 6 and Studio 6 brands across North America.
The company’s European portfolio includes brands such as CheckMyGuest, Dancenter, Belvilla & Direct Booker.
Prism’s scale has expanded across hotels, homes and listings. As of December 31, 2025, it operated 2,93,554 storefronts globally, comprising 24,303 hotel storefronts, 124,668 home storefronts and 144,583 listing storefronts across more than 35 countries.
The company reported a net profit of ₹748 crore for the nine months ended December 31, 2025, compared with ₹245 crore in FY25.
It has proposed to utilise ₹4,987.5 crore from the IPO proceeds towards repayment or prepayment of borrowings. The proposed IPO is entirely a fresh issue, with existing shareholders, including SoftBank, Microsoft, Airbnb, Khazanah, Peak XV, Lightspeed and others, not selling shares through the offer.