Oyo Hotels-parent Prism has confidentially filed for an initial public offering in India, three people familiar with the matter told Reuters on Wednesday, marking a fresh push by the homegrown hospitality brand to tap public markets.
The confidential filing comes days after the SoftBank-backed firm received shareholders' approval to raise up to $742.04 million via a fresh issue of shares.
One person said the company is seeking a valuation of $7 billion to $8 billion.
Oyo did not immediately respond to a Reuters request for comment.
Oyo first filed for an IPO in 2021, targeting a valuation of up to $12 billion, but withdrew the plans.
In India, a confidential filing allows companies to submit draft IPO papers to the Securities and Exchange Board of India for review without making them public until they decide to proceed with the offering.
The company posted a 16% year-on-year rise in revenue to 62.53 billion rupees ($695.92 million) for financial year 2025. Net profit after exceptional items increased by 6.6% to 2.45 billion rupees.
The filing adds to a steady pipeline of listings in a year that has seen strong equity issuance and sustained investor appetite. Indian quick commerce company Zepto filed for an initial public offering confidentially on Sunday.
India was the world's second-largest primary equity issuance market in 2025, raising $21.6 billion through 352 deals as of Dec 18, as per data compiled by LSEG. The south Asian country has also surpassed last year's record $20.5 billion fundraise through the primary market.
