The third time is the charm.

In late June, Prism finally filed its updated draft papers for a Rs 6,650 crore ($700 million) initial public offering (IPO) with market regulator Sebi. This is the Oyo* parent’s third attempt at going public after unsuccessful outings in 2021 and 2023.

What’s changed? Well, the entire pitch.

Prism, unlike its brand Oyo, is no longer about “standardising budget hotels” in India. It’s now an “asset-light” and “technology-driven” global hospitality platform that makes over 80% of its revenue from international........

© The Ken