Oyo parent Prism gets shareholder nod to raise ₹6,650 crore via IPO

Oyo parent Prism has received shareholder approval to raise Rs 6,650 crore through an IPO, sources said. Shareholders also cleared a 1:19 bonus issue, pending approval

Budget accommodation brand Oyo Hotels’ parent Prism received shareholder approval on Tuesday to raise Rs 6,650 crore through an initial public offering (IPO).

 

Prism received shareholder approval during an extraordinary general meeting held on December 20, sources said, adding that a bonus issue of equity shares in a 1:19 ratio was also approved, pending regulatory approval.

 

What do the approvals mean for Prism’s IPO plans? 

The approvals clear the way for the IPO, which has been in the works for some time now.

 

How has Prism performed financially in recent periods? 

According to provisional quarterly accounts, the company estimated a net profit of over Rs 200 crore in the quarter, more than double the net profit of Rs 87 crore recorded in Q1 FY25. In FY25, the company turned profitable with an operating profit of Rs 412 crore, while gross booking value grew by 53 per cent to Rs 16,250 crore.

 

Revenue during the year touched Rs 6,250 crore, with the global hotel count rising to over 20,000.

 

What did Ritesh Agarwal tell shareholders about growth and strategy? 

"The global hospitality industry continues to present strong growth prospects, driven by rising travel demand, evolving consumer preferences, and increasing digital adoption," founder and chairman Ritesh Agarwal told shareholders in a recent email.

 

"As we look ahead, our focus extends beyond just growing top-line and bottom-line metrics—we are committed to delivering exceptional customer experiences, leveraging data-driven insights to innovate, and expanding our footprint across new geographies and market segments. This holistic approach positions us to capitalise on long-term opportunities and build a sustainable, agile and resilient business that adapts to changing industry dynamics," he added.