Short answer: no opening date. What’s confirmed, what’s reported, what to watch as the wait proceeds.
When is the OYO IPO Expected to Launch in 2026?
The OYO IPO has yet to see a date fixed for opening. Choice’s page continues to show the open date, close date, price band and lot size as ‘to be announced’. The issuer, PRISM (formerly Oravel Stays), filed its latest draft prospectus on 30 June 2026, following SEBI’s observations in the month. Multiple outlets have since cited August or September for a listing. This period has elapsed with no opening. The next lead is the red herring prospectus, which will feature the price band, bid dates and more. This is OYO’s third attempt, after initial filings in 2021 and 2024 fell through.
Estimated Valuation Band for 2026
A valuation band is not available officially since the price band isn’t out. There has been a reported target of about $7 to $8 billion, or ₹59,000 to ₹67,000 crore, circulating. This comes from media reports, not from the company, and other reports show different numbers. It is also significantly below the $9 to $12 billion bands that were reported for 2021. Take everything as a guideline until the final prospectus is filed for the IPO.
Key Factors Shaping the Valuation
- Offer size: Up to ₹6,650 crore (fresh issue, no offer for sale). A pre-IPO placement up to ₹1,330 crore can be dilutive.
- Debt: A significant chunk of the proceeds will be used to pay down debt, which can improve the balance sheet.
- Profitability: Choice’s page shows continuous net losses and negative operating cash flows in prior years as weaknesses.
- Structure: The listed strengths include the largest hotel storefront network across India and Southeast Asia, asset-light structure and a technology driven platform.
- Market dynamics: Two prior attempts have fizzled out; timing is as important as valuation.
What Investors Should Keep an Eye On
Keep a look out for the red herring prospectus, which will include the dates, lot size, and price range. Next is the latest on profits and the numbers on debt. Also note that the queue isn’t empty: five IPOs were open for subscription from 15 to 19 October, including Zetwerk at ₹143 to ₹151 a share and Bonfiglioli Transmissions at ₹558 to ₹586. OYO isn’t amongst them. When it arrives, Choice’s page shows the traditional split, with 75% for institutional investors, 15% for non institutional investors and 10% for retail investors.
Summary of Key OYO IPO Details
| Detail | Status |
| Issuer | PRISM, formerly Oravel Stays |
| Brand | OYO |
| Issue size | Up to ₹6,650 crore, fresh issue only |
| Updated draft prospectus | June 30, 2026 |
| Open and close dates | To be announced |
| Price band | To be announced |
| Reported valuation target | About $7 to $8 billion (unofficial) |
| Face value | ₹1 per share |
| Quota | 75% institutions, 15% non institutional, 10% retail |
| Listing | NSE and BSE |
Conclusion
Nobody outside the company knows the launch date yet. The valuation band is a guide, but it only takes shape when the price band is announced. Until then, study the prospectus, keep an eye on the debt and profit numbers, and apply only if the numbers work for your risk appetite. This is general information and should not be construed as investment advice.
