What’s in a name? Especially one that most people might not even utter.

Few people think of Zomato as a brand under Eternal even after the rechristening was seeded into our minds very early on, much before it became official. Eventually we will come to terms with Eternal too.

OYO changing the name of its corporate parent entity from Oravel Stays to PRISM could end up taking just as long to enter common parlance, if at all. But perhaps that’s missing the point behind both these changes.

The switch to Eternal was because Zomato was longer just Zomato, and for Ritesh Agarwal-led OYO, the rebranding to PRISM is about emphasising the new multihued OYO — one that’s not just the three bold letters in red, but a global hospitality platform for work and leisure.

Just a visit to the new website indicates just how much of a shift the parent company is undergoing.

The user interface has a more sophisticated colour palette — the gold and gray reminiscent of many noted global hotel giants.

Coming on the eve of OYO’s third attempt at a public listing, the switch to PRISM is more than just a surface-level rebranding. As per sources and those in the know, the company plans to file its draft red herring prospectus (DRHP) by November 2025. This time, it is eyeing a valuation in the range of INR 58K–66K Cr ($7-8 Bn).

This after its first bid to raise $1 Bn from an IPO in 2021 was shelved and another confidential IPO filing in 2023 was withdrawn.

PRISM signals a new chapter for OYO’s parent entity after a period of austerity and cutbacks, restructuring of its debt, a transition to a different kind of a business model and a focus on premium experiences.

Inc42 has covered OYO’s initial turnaround in depth, where the company’s strategic focus on international markets and a diversified portfolio of brands had begun paying off.

And Agarwal & Co have continued this momentum in FY25 and FY26. In Q1 FY26, OYO posted revenue of INR 2,019 Cr, up 47% year-on-year, with nearly 2x growth in net profits to INR 200 Cr. It reported net profit of INR 244.8 Cr in FY25, up 7% from INR 229.6 Cr in its maiden profitable year in FY24.

The company claims to have consistently improved its bottomline in the last few quarters and with the IPO tides favouring profitable companies, this was a vital turnaround.

But now with a new identity and plans to list publicly, PRISM needs to be looked at in a new light — pun intended. Has OYO truly checked all the boxes in the run up to its IPO? Let’s dive in and see.

The Brand Stands Strong

Launched in 2012, OYO has travelled far from its budget hotel aggregator roots. Today, under its new corporate identity ‘PRISM’, it operates a global portfolio that includes SUNDAY, Palette, Clubhouse, Belvilla, DanCenter, Traum, G6, Innov8 and Weddingz among other........

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