India, June 30 -- After filing its updated draft red herring prospectus (UDRHP) with the SEBI, OYO-parent PRISM has set its sight to list on the Indian equities market for the third time.

In its third IPO attempt, the Ritesh Agarwal-led company is looking at raising Rs.6,650 Cr from the public markets while none of its existing shareholders are looking to offload any stake in the company. A large chunk of the fresh proceeds will help the company repay or prepay certain borrowings.

The company has made significant strides in its financial performance since its last DRHP filing, posting a net profit of Rs.748.3 Cr for the first nine months (9M) of FY26.

However, a closer look at the UDRHP brings to attention an extensive list of legal ba...