Pride Hotels Ltd. IPO Details
Pride Hotels was incorporated on February 1, 1983. The company is an Indian hospitality brand with over 38 years of experience, owning and managing hotels and resorts under the “Pride Hotels and Resorts” banner. Its portfolio comprises 34 properties with 2,723 keys, including 7 owned hotels (1,136 keys) and 27 managed hotels (1,587 keys)
| Bidding Dates |
|---|
| To Be Announced |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| - | - | - | - | 39.2 M | - | - | ₹2,600.0 M | DRHP DOC |
Pride Hotels issue details
Pride Hotels has 39.2 M shares on offer
Pride Hotels IPO issue size is ₹ 2,600.0 M
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
Pride Hotels IMPORTANT IPO DATES
| Issue Open Date | - |
| Issue close Date | - |
| Allotment Date | - |
| Refund Date | - |
| Demat Account Credit Date | - |
| Listing Date | - |
| Listing on Exchange(s) | NSE and BSE |
Pride Hotels NUMBER OF SHARES ON OFFER
Pride Hotels FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY25 | 305.6 | 83.5 | 118.2 | 101.2 | 47.1% |
| FY24 | 270.0 | 66.0 | 94.8 | 97.7 | 46.9% |
| FY23 | 246.2 | 37.7 | 84.0 | 82.8 | 39.0% |
Pride Hotels INFORMATION ON IPO ISSUE
About Pride Hotels
Pride Hotels was incorporated on February 1, 1983. The company is an Indian hospitality brand with over 38 years of experience, owning and managing hotels and resorts under the “Pride Hotels and Resorts” banner. Its portfolio comprises 34 properties with 2,723 keys, including 7 owned hotels (1,136 keys) and 27 managed hotels (1,587 keys)
Object of the Issue
- Funding capital expenditure towards renovation of existing hotels
- Repayment and prepayment in full of part of certain borrowings
- General corporate purposes
Pride Hotels - PROMOTERS
| Name |
|---|
| Sureshchand Premchand Jain |
| Satyen Suresh Jain |
| Meena Sureshchand Jain |
| A S P Enterprises Private Limited |
| Kopra Estate Private Limited |
| Pride Plaza (I) Private Limited |
| The Executive Inn Limited |
Pride Hotels - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Sureshchand Premchand Jain | Managing Director |
| Satyen Suresh Jain | Whole Time Director & Chief Executive Officer |
| Atul Upadhyay | Whole time Director |
| Sucheta Nilesh Shah | Non-Executive Independent Director |
| Veer Vijay Singh | Non-Executive Independent Director |
| Jayesh Chaturdas Dadia | Non-Executive Independent Director |
Pride Hotels Book Running Lead Manager
Motilal Oswal Investment Advisors Limited
phl.ipo@motilaloswal.com
JM Financial Limited
pridehotels.ipo@jmfl.com
Pride Hotels Registrar to the Offer
KFin Technologies Limited
pride.ipo@kfintech.com
Pride Hotels Strengths
Asset light business model
The company’s Managed Portfolio includes 27 hotels with 1,587 keys, operated under agreements with third-party owners. This asset-light model leverages its brand and operational expertise to enhance income, ensure consistent service quality, and strengthen brand reach
Asset management
As property owners and operators, the company drives operational efficiency through centralised procurement, customer feedback monitoring, energy-efficient and renewable initiatives, and brand-building via marketing and social media
Customised properties
The company’s full-service hotels offer a range of room categories and amenities, including F&B outlets, banquets, spas, fitness centres, kids’ play areas, “Pride Mart” convenience stores, and laundry services, ensuring a comprehensive and convenient stay experience
Pride Hotels Risks
Competition
Intense competition in India’s hospitality sector may affect the company’s ability to attract guests, impacting occupancy, room rates, RevPAR, and profitability. Competition arises from factors like location, brand, pricing, services, amenities, and loyalty programs
Operational risks
Operational risks in hospitality, including reliance on third-party providers, may lead to safety incidents, reputational damage, and financial losses. Failures in food, cleaning, housekeeping, or security services could harm guest safety, satisfaction, and brand trust
Safety, security & crisis management risks
Hotels face safety, security, and crisis risks, including accidents, crime, natural disasters, or employee misconduct, which can cause injuries, property damage, legal liabilities, and financial losses. Such events may also harm guest confidence and damage the brand’s reputation
IPO FAQs
The promoters of the company are Sureshchand Premchand Jain, Satyen Suresh Jain, Meena Sureshchand Jain, A S P Enterprises Private Limited, Kopra Estate Private Limited, Pride Plaza (I) Private Limited and The Executive Inn Limited.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.