Oyo owner Prism nearly halves size of planned India IPO
SoftBank-backed Prism, parent of Oyo Hotels, has nearly halved its proposed IPO, cutting the fresh share issue to 33.5 billion rupees, a filing shows.
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what happened
Prism, the parent of Indian budget hotel chain Oyo, has nearly halved the planned size of its initial public offering, according to a filing released on Thursday and reported by Reuters. The SoftBank-backed company now intends to issue new shares worth 33.5 billion rupees, roughly $354.65 million.
Prism made its first IPO filing in 2021, when it targeted a valuation as high as $12 billion. The listing has been pushed back several times, most recently in May, and in the meantime the company leaned more on debt financing. In June, an updated draft prospectus showed a plan to raise 66.5 billion rupees through new shares.
why it matters
The smaller offering points to a more cautious approach to going public. If the listing goes ahead, it would add to a busy year for India's IPO market, which is already on track for a record, led by the ongoing offering from Jio Platforms.
market impact
Indian IPO market: a smaller offering signals caution and could weigh on sentiment for new listings
tags
instruments
sources
- SoftBank-backed India's Oyo Hotels owner halves proposed IPO, filing shows — Reuters, 22 October 2026 at 03:29 UTC
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