PRISM receives SEBI IPO approval

Prismark, the parent company of hospitality technology firm Oyo Rooms>>>, has received approval from the India — Securities and Exchange Board of India>>> for its proposed initial public offering. The company confidentially filed its draft red herring prospectus in December 2025, following shareholder approval to raise up to Rs 6,650 crore through a fresh issue of equity shares. The IPO is expected to value Prismark between $7 billion and $8 billion. Prismark has appointed several investment banks, including Axis Capital Holdings>>>, Citigroup>>>, Goldman Sachs>>>, Meritz Securities>>>, State Bank of India — State Bank of India>>>, JM Financial>>>, InCred Capital>>> and Intensive Fiscal Services, as book-running lead managers. The company is now evaluating market conditions and listing timelines before filing an Updated Draft Red Herring Prospectus by early July, which will be open for public comments for 21 days. This marks a significant step in Prismark's long-awaited public market journey, as it focuses on profitability and expansion across India>>>, the United States>>> and Europe>>>.