8 months ago

Pride Hotels Aims for IPO by 2026

Pride Hotels Aims for IPO by 2026
Pride Hotels targets IPO by March 2026 to fund renovations · thehindubusinessline.com

Pride Hotels, a company that runs hotels and resorts, wants to go public by March 2026.

This means they will sell shares of their company to the public for the first time.

The money they raise will be used to fix up their existing hotels, pay off some of their debts, and help them grow by adding more hotels.

They currently have 34 hotels and plan to add 32 more in the next few years.

The company is also doing well financially, with higher profits and revenues compared to last year.

However, they expect more competition as other hotels open up in smaller cities.

Key facts

Company
Pride Hotels
IPO Target Date
March 2026
Fresh Issue Amount
₹260 crore
Offer for Sale
3.92 crore equity shares
Debt as of March 2025
₹65 crore
Current Hotel Count
34 (7 owned, 27 managed)
Pipeline Hotels
32 properties
FY25 Profit After Tax
₹83.5 crore
FY25 Revenue
₹305.62 crore

Quotes

Sureshchand Premchand Jain

Chairman & Managing Director of Pride Hotels

“I understand that India is no longer going to be buying oil from Russia. That is a good step.”
thehindubusinessline.com

Sources

Related news