ORAVEL STAYS LIMITED (Oyo

Unlisted Shares) About Oravel Stays Limited (OYO / PRISM) Oravel Stays Limited is the parent company of OYO, rebranded as PRISM in September 2025. Founded by Ritesh Agarwal, it operates an asset-light travel technology platform — a single booking system, pricing engine and app stack layered over hotels and homes it largely does not own. The group runs four verticals across 35+ countries: G6 Hospitality (1,571 Motel 6 and Studio 6 properties in the US, acquired in December 2024), hotels (22,769 storefronts under OYO, Townhouse, Palette and Sunday), homes (138,250 European and Australian vacation rentals under Belvilla, DanCenter and CheckMyGuest), and a listings subscription business. Most contracts are now management agreements where the property owner supplies the capital, replacing the minimum-guarantee model that drove OYO's earlier losses. In FY26, revenue from operations rose 49.7% to ₹9,358 crore and gross booking value rose 88.5% to ₹30,683 crore. EBITDA margin improved from 17.3% to 27.7%, and operating cash flow jumped from ₹321 crore to ₹2,511 crore. Reported profit after tax was ₹994 crore — though profit before tax was ₹399 crore, with the difference coming from a one-time ₹595 crore deferred tax credit. The company carries ₹7,810 crore of borrowings, largely a USD 830 million term loan raised for the G6 acquisition. Oravel Stays filed an Updated DRHP with SEBI on 29 June 2026 for a fresh issue of up to ₹6,650 crore, and has in-principle listing approval from BSE and NSE. Until then, OYO shares trade in the unlisted market.