Oyo-parent Prism files for Rs 6,650 crore IPO via confidential route

Prism, the parent company of budget hospitality chain OYO, has reportedly filed confidential draft red herring prospectus (DRHP) papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) of up to Rs 6,650 crore.

The proposed IPO will reportedly comprise entirely of fresh equity shares and is expected to value the company in the range of $7–8 billion. If successful, this would mark one of the larger listings by an Indian startup in recent times.