MUMBAI, June 2 -- PRISM, the global hospitality technology company that operates OYO, has received approval from the Securities and Exchange Board of India (Sebi) for its proposed initial public offering (IPO), according to two people aware of the development.

The company had confidentially filed its draft red herring prospectus (DRHP) with the regulator in December 2025 as part of its listing plans. The filing followed shareholder approval at an extraordinary general meeting on 20 December, where investors cleared a proposal to raise up to Rs.6,650 crore through a fresh issue of equity shares, the people said.

PRISM is targeting a valuation of about $7-8 billion for the proposed IPO, they added.

The company is expected to file an upda...