Oravel Stays Ltd (OYO)
OYO's parent, now branded PRISM: ₹9,358 Cr revenue and ₹994 Cr profit in FY26, a ₹6,650 Cr fresh-issue IPO cleared by SEBI, and a share price that has reset from ₹55 to the mid-twenties.
Market cap
₹21,185 Cr
905.33 Cr shares
P/E ratio
21.27
Sector average 44
Book value
₹3.37
P/B 6.94
1-year return
-57.26%
52w ₹21 – ₹55
Currently 7% of the way through its 52-week range.
Indicative price history
1Y change
-56.16% ₹53 → ₹23
52-week band in this window: ₹20.62 – ₹55.88. Weekly indicative marks, not exchange-traded prices.
Key highlights
- FY26 revenue ₹9,358 Cr (+49.7%), EBITDA ₹2,594 Cr, net profit ₹994 Cr including a ₹678 Cr deferred-tax credit.
- IPO cleared by SEBI in June 2026: ₹6,650 Cr fresh issue, no offer for sale, ₹4,987.5 Cr to repay the Term Loan B.
- Over 80% of revenue now comes from outside India after the Motel 6 / Studio 6 (G6 Hospitality) acquisition.
About OYO
Oravel Stays Limited, rebranded as PRISM in September 2025, is a global hospitality technology group. It runs the OYO hotel network in India and South-East Asia, Motel 6 and Studio 6 in North America through G6 Hospitality (acquired in December 2024), vacation-home brands Belvilla, DanCenter and CheckMyGuest in Europe, the premium Sunday hotels and the Innov8 co-working chain.
FY26 (year to March 2026) was the first year with G6 fully consolidated: revenue from operations rose 49.7% to ₹9,358 Cr, EBITDA more than doubled to ₹2,594 Cr, gross booking value grew 88.5% to ₹30,683 Cr and net profit reached ₹994 Cr — of which ₹678 Cr was a deferred-tax credit. More than 80% of revenue now comes from outside India (India: ₹1,504 Cr).
The balance sheet carries about ₹7,810 Cr of borrowings, mostly a USD 830 million Term Loan B raised by the overseas entities to fund the G6 deal; interest paid in FY26 was about ₹1,414 Cr. The IPO is a pure fresh issue of up to ₹6,650 Cr, ₹4,987.5 Cr of which repays that debt. SEBI cleared the confidential filing on 2 June 2026 and the updated DRHP was filed on 30 June 2026.
Balance-sheet line items for FY24 and FY25 on this page are reconstructed from the group's disclosed totals and press reports; P&L totals, borrowings, shareholding and IPO terms follow the FY26 results and the UDRHP.
Where the revenue comes from
- North America — G6 Hospitality (Motel 6, Studio 6)47%
Over half of global GBV; first full year in FY26 (estimate of revenue share)
- Europe — homes & hotels (Belvilla, DanCenter, CheckMyGuest)28%
Vacation rentals; home GBV ₹5,447 Cr in FY26 (estimate)
- India — OYO hotels, Sunday, Innov816%
₹1,504 Cr of FY26 revenue from operations
- South-East Asia & other9%
Indonesia, Malaysia and platform services (estimate)
Products & services
OYO hotels
Franchised budget and mid-market hotels across India and South-East Asia; ₹10,939 Cr of hotel GBV in FY26 outside G6.
G6 Hospitality — Motel 6 & Studio 6
About 1,500 economy hotels in the US and Canada, acquired December 2024; ₹14,107 Cr of GBV in FY26.
Belvilla, DanCenter, CheckMyGuest
Vacation-home rental brands in Europe; home GBV ₹5,447 Cr in FY26.
Sunday hotels & Innov8
Premium hotel brand and a 49-centre co-working chain (Innov8 revenue ₹37 Cr, +55%).
What works
- • Four consecutive years of positive EBITDA; FY26 EBITDA ₹2,594 Cr on ₹9,358 Cr revenue.
- • G6 Hospitality (Motel 6, Studio 6) gives a large, franchised, cash-generating North American base — ₹14,107 Cr of GBV in its first full year.
- • The IPO is entirely a fresh issue that retires most of the expensive Term Loan B, which should cut interest costs sharply after listing.
- • SoftBank (40%) and the founder (30.5%) are not selling in the IPO.
What to watch
- • Reported FY26 profit is flattered by a ₹678 Cr deferred-tax credit; profit before that credit was closer to ₹316 Cr against ₹1,414 Cr of interest.
- • Leverage is high until the IPO proceeds land: ~₹7,810 Cr of debt, largely dollar-denominated.
- • The IPO valuation being discussed ($3–4 billion) is far below the 2021 ambition, and the unlisted price has already fallen from ₹55 to about ₹24 in a year.
- • Over 80% of revenue is now outside India, exposing earnings to US travel demand and currency moves.
Compare with peers
| Company | Price | Market cap | P/E | P/B | Rev CAGR |
|---|---|---|---|---|---|
| OYOThis page | ₹23.40 | ₹21,185 Cr | 21.27 | 6.94 | +31.78% |
| PharmEasy | ₹7.83 | ₹6,201 Cr | — | 2.66 | -0.39% |
| Bira 91 | ₹73.00 | ₹211.7 Cr | — | 0.76 | +2.46% |
Latest reported year: FY26 ending 31 Mar 2026.