Oyo-parent Prism files IPO papers

Prism, the company that owns Oyo, has taken the first step to go public by filing papers with Sebi.

They want to raise Rs 6,650 crore through this IPO, which could value the company between $7-8 billion.

This isn't their first try; they attempted an IPO in 2021 but withdrew due to market conditions.

The company has been growing and expects to double its earnings by next year.

They are using a special route that allows them to keep the details private until they are ready to launch.

SoftBank is one of their biggest investors, and the company's founder is Ritesh Agarwal.

Ritesh, who will be a judge on Shark Tank India Season 5, recently shared a story about his first funding round where investors asked his father not to send him to college.

He also discussed his views on education, believing that formal university education is not the only path to learning and that the format of university education needs to be challenged.