Pride Hotels Files DRHP for Mainboard IPO: ₹260 Crore Fresh Issue, OFS of 3.92 Crore Shares

Mumbai, October 6, 2025:  Pride Hotels Limited, a hospitality chain, has filed its Draft Red Herring Prospectus (DRHP) with SEBI for a proposed Mainboard IPO. The issue comprises a fresh issue of equity shares aggregating up to ₹260 crore and an offer for sale of up to 3.92 crore equity shares of face value of ₹5 each. The company will get listed on BSE as well as NSE.

Incorporated by Sureshchand Premchand Jain – Pride Hotels has a diversified portfolio of hospitality across midscale, economy, and upscale segments. With 34 hotels and resorts in India, a total of 2,723 rooms under management, seven owned properties with 1,136 rooms and 27 managed hotels with 1,587 rooms, the group has a presence in key locations such as Delhi Aerocity, Pune, Ahmedabad, Chennai, and Kolkata. Operating under four sub-brands, Pride Hotels offers differentiated experiences at various price segments, which has a strong foothold in domestic hotels.

Pride Hotels Financial Highlights

Pride Hotels had revenue of ₹305.62 crore and profit after tax of ₹83.51 crore in FY25. The company had a net worth of ₹417.61 crore with borrowings of ₹65.14 crore. Earnings per share were ₹4.50, and net asset value per share was ₹22.50. Steady occupancy growth and cost control have abetted stable profitability and moderate leverage.

Pride Hotels Objects of the Issue

The net proceeds of the fresh issue are to be used for modernisation and renovation of existing hotels (₹159.68 crore), repayment or prepayment of some borrowings (₹40 crore), and balance for general corporate purposes.

Pride Hotel Key Promoters

The promoters of Pride Hotels are Sureshchand Premchand Jain, Satyen Suresh Jain, Meena Sureshchand Jain, A.S.P. Enterprises Pvt Ltd, Kopra Estate Pvt Ltd, Pride Plaza (India) Pvt Ltd, and The Executive Inn Ltd.

Pride Hotel Lead Managers and Registrar

Book Running Lead Managers for the IPO are JM Financial Ltd and Motilal Oswal Investment Advisors Ltd, with the registrar being KFin Technologies Ltd.

Pride Hotel Key Strengths

Key strengths of Pride Hotels are its multi-brand portfolio across various customer segments, balanced ownership and management mix enabling scalability with reduced capital intensity, strong brand recall, and consistent financial growth with minimal debt levels.

Pride Hotel Key Risks

Possible threats include concentration of revenue, as Delhi Aerocity hotel contributes almost half the owned-portfolio revenue, intense competition from foreign and domestic hotel groups, and vulnerability to cyclical demand for tourism and economic downturns.

The envisaged IPO will enhance Pride Hotels’ financial structure, refurbish core assets, and finance its growth plan and position the company for long-term growth in India’s rejuvenating hospitality industry.

REF: https://nsearchives.nseindia.com/corporate/Registration_30092025190436_PrideDRHP.pdf

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