Oyo Rooms parent appoints former SEBI chairman Ajay Tyagi to board ahead of IPO

PRISM, the parent of Oyo Rooms, has appointed former capital markets regulator Ajay Tyagi as an Independent Director, adding heavyweight regulatory experience to its board at a time when company IPO bound. 

Tyagi previously served as Chairman of the Securities and Exchange Board of India between 2017 and 2022, a period marked by tighter disclosure norms, expanded surveillance mechanisms, and reforms aimed at deepening India’s equity markets. 

As SEBI chief, he oversaw policy covering initial public offerings, institutional investments, corporate governance standards, and investor protection frameworks across both primary and secondary markets.

Before heading SEBI, Tyagi was Additional Secretary in the Department of Economic Affairs at the Ministry of Finance, Government of India. In that role, he handled capital markets policy, infrastructure financing, investment regulation, bankruptcy law implementation and broader financial-sector reforms. 

A 1984-batch Indian Administrative Service (IAS) officer, he spent decades in senior administrative and policy roles across ministries.

He holds a bachelor’s degree in Electrical Engineering (Electronics), a master’s degree in Computer Science, and a master’s degree in Public Administration from Harvard University. He currently serves as an Independent Director on the boards of several Indian companies.

The appointment comes as PRISM continues to reposition itself as a technology-driven global hospitality platform. Through Oyo Rooms, the company operates a large network of franchised and leased hotels across India and international markets.

After navigating pandemic-era disruptions and subsequent restructuring, the company claims to have been working to improve profitability metrics, strengthen compliance processes, and streamline operations — moves that industry observers view as critical for sustained institutional investor confidence and potential access to public markets.

Tyagi joins a board that blends regulatory, academic, consumer and investment expertise. Members include William Steve Albrecht, Independent Director and the Dr. Jay H. Price / Arthur Andersen Endowed Professor of Accountancy at Utah State University; Troy Matthew Alstead, Independent Director and former chief financial officer and group president of Starbucks Corporation; Dr. Deepa Malik, Independent Director and Padma Shri awardee; Bejul Somaia, Independent Director and partner at Lightspeed Venture Partners; Sumer Juneja, Non-Executive Nominee Director and Managing Partner at SoftBank Investment Advisers; and Aditya Ghosh, Non-Executive Nominee Director and Co-Founder of Akasa Air.