IPO Bound PRISM Appoints Ajay Tyagi as Independent Director

IPO-bound OYO’s parent company, PRISM, on Wednesday announced the appointment of former SEBI Chairman Ajay Tyagi as an Independent Director on its Board. The move comes as the company strengthens its governance framework ahead of its public listing.

Strengthening the Board

OYO stated, “Tyagi joins a seasoned board with deep expertise across governance, consumer businesses, technology, and strategic investments.”

The board includes distinguished Independent Directors:

• William Steve Albrecht, Dr Jay H Price/Arthur Andersen Endowed Professor of Accountancy, Utah State University
• Troy Matthew Alstead, former CFO and group president, Starbucks Corporation
• Deepa Malik, Padma Shri awardee
• Bejul Somaia, partner, Lightspeed Venture Partners
• Sumer Juneja, Non-Executive Nominee Director, Managing Partner at SoftBank Investment Advisers
• Aditya Ghosh, Non-Executive Nominee Director, Co-Founder of Akasa Air

Ritesh Agarwal, Founder of PRISM, said: “Ajay brings unparalleled expertise in capital markets regulation, governance, and public institution stewardship. His guidance will be invaluable as PRISM scales while reinforcing governance standards and long-term accountability.”

IPO Plans in Motion

On December 31, PTI reported that PRISM had filed preliminary documents with SEBI to raise ₹6,650 crore through an Initial Public Offering (IPO) via a confidential route, according to sources. The proposed IPO could value the company between USD 7–8 billion.

Tyagi’s Distinguished Career

Tyagi, a former senior civil servant, has extensive experience in financial-sector policy, market regulation, and corporate governance.

• As SEBI Chairman (2017–2022), he oversaw India’s securities markets, strengthened regulatory frameworks, protected investors, and supervised primary and secondary market activity.
• Before SEBI, he served as Additional Secretary in the Department of Economic Affairs, Ministry of Finance, handling capital markets, investment policy, infrastructure financing, bankruptcy law, and broader financial reforms.
• An officer of the Indian Administrative Service (IAS), 1984 batch, he has held multiple senior policy and administrative positions across various ministries during his distinguished career.

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