7 months ago
Pride Hotels Receives SEBI Approval for Rs 1,000 Crore IPO
Pride Hotels, a big hotel company, got permission from SEBI to raise Rs 1,000 crore through an IPO.
This means they will sell some of their shares to the public for the first time.
The money they get will be used to fix up their hotels, pay off debts, and for other company needs.
They have 34 hotels right now and plan to open more in the next few years.
Their shares will be listed on the BSE and NSE stock exchanges.
Some big finance companies are helping them with this IPO.
Pride Hotels received SEBI approval for a Rs 1,000 crore IPO on January 16, 2026.
The IPO consists of a fresh issue of Rs 260 crore and an offer-for-sale of 3.92 crore shares.
The company may raise an additional Rs 52 crore through a pre-IPO placement.
Proceeds will be used for hotel renovations, debt repayment, and general corporate purposes.
Pride Hotels operates 34 hotels with 2,723 rooms and plans to expand with 32 more properties in the next 2-3 years.
- Who
- Pride Hotels, a Mumbai-based hospitality chain
- What
- Received SEBI approval for a Rs 1,000 crore IPO
- Where
- India
- When
- Approval received on January 16, 2026
- Why
- To fund capital expenditure, debt repayment, and general corporate purposes
Key facts
- Company
- Pride Hotels
- IPO Size
- Rs 1,000 crore
- Fresh Issue
- Rs 260 crore
- Offer-for-Sale
- 3.92 crore shares
- Pre-IPO Placement
- Rs 52 crore (optional)
- Operational Hotels
- 34
- Rooms
- 2,723
- Listing Exchanges
- BSE and NSE
Quotes
Sureshchand Premchand Jain
Chairman & MD of Pride Hotels
“the company intends to deploy the funds over the next 12 to 27 months to undertake renovation, refurbishment and upgradation of six out of seven hotels in its owned portfolio. These properties are located in New Delhi, Ahmedabad, Kolkata, Bengaluru, Pune and Chennai.”
thehindubusinessline.com
Satyen Jain
Chief Executive Officer of Pride Hotels
“Pride Hotels has expanded its footprint from 19 hotels in 2019 to 34 at present, and has another 32 properties in the pipeline that are expected to become operational over the next two to three years.”
thehindubusinessline.com
Sources
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