OYO Parent PRISM Files IPO Papers in Third Attempt: ₹6,650 Cr Raise at $7-8 Bn Valuation – Listing Soon?

OYO's parent, PRISM, just filed IPO papers with SEBI again. Third time lucky? They're aiming for ₹6,650 crore fresh cash at $7-8 billion valuation. Listing might hit early 2026. This buzz has retail investors chatting. After years of ups and downs, OYO looks profitable now. But is the price right? Let's break it down simple.

FY25 revenue jumped 16% to ₹6,253 crore. 

Profit after tax? ₹245 crore, up 7% YoY. Q1 FY26 even better – ₹200+ crore profit, revenue +47% to ₹2,019 crore.

 EBITDA strong at ₹1,100 crore yearly.

Debt's a worry though. Over ₹7,000 crore long-term borrowings, debt-to-equity around 2.2. 

Cash flow? Positive from EBITDA, but exact operating cash not public yet. No dividends – they're growth-focused. 

ROE? Improving from losses, maybe 6-7% now with profits. Industry P/E double global peers at 56x vs 28x. OYO trades premium, betting on travel boom.

Ritesh Agarwal started it all. Just 19, dropped college, got Thiel Fellowship cash. Launched Oravel Stays in 2012 as budget hotel listings. Renamed OYO 2013 – "On Your Own" vibe.He traveled India solo, hated dodgy budget stays. Fixed that with branding. SoftBank poured billions, grew to 35+ countries. Pandemic hurt bad, losses piled. Now rebranded parent PRISM for lifestyle push. Ritesh still CEO, owns ~30%.

Simple model. They don't own hotels. Partner with small owners, slap OYO brand, standardize – clean sheets, WiFi, 24/7 support. App books rooms cheap for travelers.Earn from commissions, fees. Premium now – Belvilla homes, Motel 6 buyouts. 120k+ vacation spots, 21k hotels. GBV soared 53% FY25 to ₹16,250 crore. Like Uber for budget beds.Travel back post-Covid. India demand huge.

IPO at $7-8B valuation – say ₹600/share post-listing? Unlisted at ₹50 now.

2026: If listing smooth, travel grows 20%, could hit ₹800-1,000. Momentum play.

2030: $26B India opportunity, Bernstein says. ₹2,000+ if premium scales.

2035: Global leader? ₹5,000, assuming 15% CAGR.

2040: Wild guess, ₹10,000+ if AI pricing, vacations boom. But debt, competition – risky. Like betting on young Ritesh again.