Former SEBI Chairman Ajay Tyagi Joins OYO's Board Amidst IPO Preparations

Ajay Tyagi, former SEBI Chairman, has joined OYO's parent company PRISM as an Independent Director, enhancing its board amidst IPO plans. His expertise in governance and capital markets aligns with PRISM's goals to access public markets and strengthen its governance framework.

Ajay Tyagi, the former Chairman of the Securities and Exchange Board of India (SEBI), has been appointed as an Independent Director on the board of OYO's parent company, PRISM, the company announced on Wednesday. His appointment comes as PRISM is gearing up for an Initial Public Offering (IPO).

Reflecting on Tyagi's experience, OYO's statement highlighted his significant contributions to market regulation and governance, crucial as the company looks to strengthen its governance standards. Tyagi's experience in overseeing India's securities markets during his tenure at SEBI from 2017 to 2022 will be invaluable to PRISM, especially as it seeks to raise Rs 6,650 crore through its upcoming IPO.

Joining a board consisting of notable figures from various industries, including former executives from Starbucks and Padma Shri awardee Deepa Malik, Tyagi will bring his depth in capital-markets regulation and public-institution stewardship to PRISM. The appointment aligns with PRISM's strategic priority of expanding its operational framework while ensuring long-term accountability to stakeholders.