Pride Hotels Sets Stage for IPO with ₹2.6 Billion Fresh Issue and 39.2 Million Share Sale

Pride Hotels Limited, a prominent player in India’s hospitality sector, has filed its Draft Red Herring Prospectus (DRHP) with market regulators, announcing plans to go public. The IPO will include both a fresh issue and an offer for sale, aimed at expanding operations and unlocking shareholder value.  

Key highlights  
- The fresh issue will raise up to ₹2.6 billion through new equity shares  
- An offer for sale of up to 39.2 million shares will allow existing shareholders to partially exit  
- The IPO proceeds will be used for debt repayment, infrastructure upgrades, and general corporate purposes  
- Lead managers and listing details are expected to be announced shortly  

Company overview  
- Incorporated in 1983, Pride Hotels operates luxury and upscale properties across major Indian cities  
- The company’s portfolio includes hotels, resorts, and convention centers in locations such as Delhi Aerocity, Pune, Ahmedabad, and Bengaluru  
- Pride Hotels reported operating revenue between ₹100 crore and ₹500 crore for FY 2023–24  
- EBITDA grew by 27.89 percent year-on-year, while net profit surged by 82.76 percent  
- The company’s net worth increased by 21.55 percent, and borrowings declined by 30.68 percent  

Market sentiment  
- Analysts view the IPO as a strategic move to capitalize on India’s post-pandemic hospitality rebound  
- The sector has seen renewed investor interest, with travel and tourism demand surging across leisure and business segments  

Sources: Tofler, Economic Times, Screener India