IPO
Pride Hotels plans Rs.1,000-Cr IPO by Dec
Mumbai-based Pride Hotels plans to launch an initial public offering (IPO) by December, with an expected issue size of approximately INR 1,000 crore. The public issue, for which the company received regulatory approval in January 2026, comprises a fresh issue of shares worth INR 260 crore and an offer for sale of up to 3.92 crore shares by promoters and promoter group entities.The company operates a portfolio of 40 properties, consisting of eight owned hotels and 32 managed properties, with signed contracts for 32 additional hotels expected to open over the next one-and-a-half to two years. The firm focuses on the upscale hospitality segment and targets four primary areas: deepening presence in existing markets, expanding large wedding and MICE (Meeting, Incentive, Conference and Exhibition) facilities, entering new leisure destinations, and increasing its footprint in pilgrimage locations.Pride Hotels intends to use the proceeds from the IPO to fund capital expenditure for the renovation of existing hotels and repayment of debt.
In Oct 2007, Pride Hotels had attracted about $14-M from Kotak Realty Fund, Primary Real Estate Investment.For FY25, Pride Hotels had reported about INR 306 Cr in Operating Income and about INR 91 Cr in PAT.
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