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20 min read
The Company That Isn't Selling — OYO's Zero-OFS IPO
OYO's zero-OFS IPO, and the case for a software business wearing a hotel uniform. A reading of Oravel Stays' ₹6,650 crore fresh issue: what the absence of an Offer for Sale signals, how an asset-light AI-run platform earns software-like margins inside hospitality, and where the real risks sit.
Sushant Shukla
Contributor
Columns
23 min read
OYO's Updated DRHP: Inside India's Most Anticipated Hospitality IPO
After two failed attempts spanning five years, OYO — now operating under parent entity PRISM (formerly Oravel Stays Limited) — has cleared SEBI's gate for a third bid. A section-by-section reading of the 29 June 2026 UDRHP-I.
Sushant Shukla
Contributor