Prism, the parent company of hospitality brand Oyo, has filed confidential papers for its initial public offering (IPO) in what is its third attempt at going public, people aware of the matter said.
The company had earlier this month secured a shareholders nod to raise up to Rs 6,650 crore (around $740 million) in primary capital via the IPO.
Its first IPO application in 2021 with the stock market regulator was returned in January 2023, following which it made a revised filing for a significantly smaller IPO.
Originally, the Gurugram-based company had proposed a $1.2-billion, or around Rs 8,430 crore, issue but its revised confidential filing was for a 40-60% smaller IPO.
In 2024, the company withdrew its draft prospectus and opted for a private funding round instead.
Oyo did not respond to queries at the time of publishing.