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OYO parent appoints ex-SEBI chief Ajay Tyagi as independent director ahead of $6.6 billion IPOPRISM, parent of OYO, appoints former SEBI chairman Ajay Tyagi as independent director, boosting governance ahead of a planned ₹6,650 crore IPO, valuing PRISM at up to 8 billion dollars.By Srabastee Biswas  February 25, 2026, 3:57:50 PM IST (Published)2 Min ReadPRISM, the travel technology company and parent of OYO, has appointed former Ajay Tyagi, who served as chairman of the Securities and Exchange Board of India from 2017 to 2022, as an independent director, adding regulatory heft to its board as it prepares for a public listing, according to a report by Moneycontrol.

During his tenure, he oversaw key reforms in India’s capital markets. Before leading SEBI, he was Additional Secretary in the Department of Economic Affairs under the Ministry of Finance, where he handled capital markets, investment policy, infrastructure financing and aspects of bankruptcy law reform.

IPO plans gather momentum

The appointment comes as PRISM moves forward with plans to tap the public market. According to the Moneycontrol report, the company has confidentially filed draft papers with SEBI to raise up to ₹6,650 crore through an initial public offering.

As per the report, the proposed issue is expected to be entirely a fresh equity raise and could value the company at around $7-8 billion. The filing marks a renewed push to list after the company had earlier deferred its IPO amid global market volatility.

Board strengthened with governance expertise

Tyagi joins an existing board that includes William Steve Albrecht, professor of accountancy at Utah State University; Troy Matthew Alstead, former chief financial officer and group president at Starbucks; Padma Shri awardee Deepa Malik; Lightspeed partner Bejul Somaia; SoftBank Investment Advisers Managing Partner Sumer Juneja; and Aditya Ghosh, co-founder of Akasa Air.

Commenting on the development, founder Ritesh Agarwal said Tyagi’s experience in regulation, governance and public institution stewardship would support PRISM’s efforts as it scales operations while enhancing accountability and governance standards.

Also read: OYO’s parent files confidential IPO papers with SEBI: Sources

The move reflects a broader trend among late-stage new-age companies to strengthen their boards with regulatory and governance expertise as they transition from private funding to the scrutiny of public markets.Continue ReadingTagsOyoSEBI