People · Professional & Local Services

Prism appoints former SEBI chairman Ajay Tyagi as independent director

By Startup Enthusiast · 25 February 2026

What they do

Prism owns hotel brands including OYO, Motel6, and Townhouse

It appointed former SEBI chairman Ajay Tyagi as independent director to strengthen board governance

Prism pre-filed its DRHP in December 2025 for a third IPO attempt targeting $7-8 billion valuation

Prism appointed former SEBI chairman Ajay Tyagi as an independent director.
Tyagi will help strengthen board governance and oversee Prism's IPO journey.
Prism pre-filed its DRHP (draft red herring prospectus, a preliminary document for IPO) in December 2025 for its third IPO attempt.
Shareholders approved raising up to ₹6,650 crore via a fresh issue of equity shares for the IPO.
They also approved a bonus issue of shares in a 1:19 ratio (one fully paid share for every 19 held).
Prism targets a valuation of $7 billion to $8 billion in the IPO.

Ajay Tyagi served as SEBI chairman from 2017 to 2022, overseeing securities markets and investor protection.
He started as an IAS officer and spent 33 years in senior policy roles across ministries.
He is currently an independent director at Hyundai India and Larsen & Toubro.
Prism's IPO attempt comes after two earlier attempts; the company is focusing on premium hotels.

Prism owns hotel brands including OYO, Motel6, Townhouse, Sunday, Palette, and OYO Vacation Homes.
The company is focusing on premium hotels.
In 2025, it raised ₹50 crore for its premium hotels subsidiary Sunday PropTech.
Sunday PropTech plans to launch 40 new four- and five-star hotels in FY26 across metros, non-metros, wildlife destinations, and pilgrimage centres.
Prism reported FY25 profit of ₹244.8 crore, up 7% from ₹229.6 crore in FY24.
Its FY25 operating revenue was ₹6,252.8 crore, up 16% from ₹5,388.8 crore in FY24.