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News Topical, Digital Desk : OYO's parent company, PRISM, has received shareholder approval for its proposed initial public offering (IPO). The company plans to raise up to ₹6,650 crore from the market.
What's the information?
According to the report, the special resolution related to the IPO was approved with 100% of valid votes. This voting took place through remote e-voting and voting conducted during the meeting. Additionally, shareholders approved the issuance of bonus shares in the ratio of 1:19, with a record date of December 5, 2025. The meeting also approved other proposals, including increasing the authorized share capital and adopting a revised version of the Articles of Association, steps typically taken before a listing. PRISM, formerly known as Oravel Stays, is OYO's holding company. The company formally adopted the PRISM name earlier this year, which is seen as part of its strategy to move beyond being a budget hospitality brand and establishing itself as a comprehensive travel and technology platform. The shareholders' approval comes at a time when the company's operating performance is improving. According to the latest earnings update, the company's revenue in FY25 was approximately ₹6,253 crore, which represents an increase of approximately 16% year-on-year. At the same time, profit increased to ₹244.8 crore, which is approximately 7% more than the previous year's ₹229.6 crore. It is worth noting that OYO's listing plans have been postponed several times before. However, the company has not yet announced any timeline for the launch of the IPO.
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