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Oravel Stays Limited, operating as PRISM Hotels and Resorts (rebranded from OYO), filed an Updated DRHP (UDRHP) with SEBI on June 30, 2026 for a 100% fresh issue IPO of ₹6,650 Cr — no OFS component, meaning existing investors (SoftBank SVF, Ritesh Agarwal, Microsoft, Airbnb, Lightspeed, Peak XV Partners, Khazanah Nasional, Greenoaks Capital) will not dilute their stakes. A pre-IPO placement of up to ₹1,330 Cr (20% of issue) may reduce the fresh issue size. PRISM is a technology-driven, asset-light hospitality platform connecting property owners with travellers across 35+ countries via OYO, Sunday, Townhouse, Palette, Motel 6, Studio 6, Belvilla and DanCenter brands — 24,000+ hotels and 1,24,668 homes as of Dec 2025. Revenue (9M FY26): ₹6,941 Cr vs ₹6,253 Cr (FY25); PAT (9M FY26): ₹748 Cr vs ₹245 Cr (FY25). Price band and dates TBA.