Pind Hospitality IPO
IPO Details
Bidding Dates
28 Sep '26 - 30 Sep '26
Minimum Investment
₹2,37,600 / 2 lots (2400 shares)
Price Range
₹93 - ₹99
Maximum Investment
₹2,37,600 / 2 lots (2400 shares)
Retail Discount
N.A.
Issue Size
₹17.82 Cr
Investor category and sub category
Qualified Institutional Buyers (QIB) | Retail Individual Investors (RII) | Non-institutional Investors (NII)Pind Hospitality IPO Important Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
28 Sept '26
IPO Closing Date
30 Sept '26
Basis of Allotment
01 Oct '26
Initiation of Refunds
05 Oct '26
IPO Listing Date
06 Oct '26
About Pind Hospitality IPO
Pind Hospitality IPO is a book build issue of ₹17.82 crores. The issue is entirely a fresh issue of 18 lakh shares of ₹17.82 crore.
Fedex Securities Private Limited is the book-running lead manager, and Bighshare Services Private Limited is the registrar of the issue. The market maker of the company is Bhansali Value Creations Private Limited.
About Pind Hospitality Limited
Pind Hospitality Limited was originally incorporated as a private limited company under the name Pind Hospitality Private Limited on June 15, 2021. It was subsequently converted into a public limited company pursuant to a resolution passed on May 27, 2023, and was renamed Pind Hospitality Limited, with a fresh certificate of incorporation issued on June 1, 2023.
The company operates a chain of North Indian and Punjabi dining restaurants in Pune, Maharashtra, under the brand “Pind Punjab,” offering authentic Punjabi cuisine along with Oriental options such as Chinese and Thai. The company has also expanded its digital food-delivery presence, having served over 5 lakh deliveries through third-party food delivery platforms. During FY26, FY25, and FY24, it processed approximately 4.31 lakh, 4.30 lakh, and 4.23 lakh orders, respectively.
The company has expanded its restaurant network since establishing its first restaurant in Kharadi in 2016, followed by restaurants in Hinjewadi Phase-II and Viman Nagar in 2019, Baner in 2020, Camp in 2023, and Eleven West (Panchshil) in 2024. In 2025, it also opened a food counter at International Tech Park Pune – Kharadi. The company has also acquired a plot in Lonavala for its proposed Haveli Project, comprising a hotel-cum-banquet hall.
Pind Hospitality focuses on affordable dining, menu innovation, customer service, and operational efficiency, with restaurants located across high-street areas, residential clusters, corporate parks, and weekend destinations. Its restaurants have been recognised through awards and industry accolades, including Times Hospitality Icons awards and Zomato Milestone Awards for online orders. As of March 31, 2026, Pind Hospitality had over 135 employees. The company also received recognition from Swiggy as a “Long standing partner” in 2024.
Industry Outlook
- The Indian food services industry has demonstrated a strong post-pandemic recovery. The industry reached an estimated ₹5,69,487 crore in FY24, and by FY27, the gap between pre-COVID and current forecasts is expected to narrow substantially, pointing towards a near-full recovery in demand.
- The organised segment is growing faster than the unorganised segment. In FY23, the Indian food services industry was estimated at ₹5,30,800 crore, growing 5.7%. The organised segment grew 10.5%, compared with 2.9% growth in the unorganised segment, whose share declined to 58% from 65% in FY19.
- Dining out is increasingly becoming a lifestyle and social activity. Rising incomes, urbanisation, and changing lifestyles have increased dining-out frequency, with consumers increasingly seeking not just food but quality, ambience, service, and overall dining experiences.
- Online food delivery has emerged as a mainstream channel. India had an estimated 6.6 crore urban food-delivery platform users, with demand extending beyond the top nine cities to 300+ cities. Convenience and value-for-money offerings are key drivers of adoption, particularly among young working professionals and upper- and middle-income consumers.
- Digital platforms are increasingly influencing restaurant discovery and consumer choices. Social media, food-delivery, and restaurant-discovery platforms such as Instagram, Zomato, Swiggy, DineOut, EazyDiner, and Google have become important touchpoints, while food quality, ambience, service, and menu variety remain key factors in the evaluation stage.
Pind Hospitality IPO Objectives
The company proposes to utilise the net proceeds from the IPO for the following objectives:
- Funding capital expenditure for setting up a hotel-cum-banquet hall in Lonavala, Maharashtra.
- Towards general corporate expenses.
Financial Performance of Pind Hospitality Limited
| Particulars | FY26 | FY25 | FY24 |
| Revenue from operations (₹ lakh) | 2,445.09 | 2,264.56 | 2,077.79 |
| EBITDA (₹ lakh) | 394.72 | 368.71 | 310.35 |
| EBITDA Margin (%) | 16.14 | 16.28 | 14.94 |
| Restated Profit after Tax (₹ lakh) | 227.30 | 256.23 | 221.41 |
| PAT Margin (%) | 9.30 | 11.31 | 10.66 |
| Net Worth (₹ lakh) | 1,452.30 | 1,225.00 | 968.78 |
| ROE (%) | 15.65 | 20.92 | 22.85 |
| ROCE (%) | 15.83 | 19.64 | 16.18 |
Pind Hospitality Limited Peer Details Comparison
| Name of the Company | Consolidated / Standalone | Face Value (₹ per share) | Revenue from Operations (₹ in lakhs) | Basic EPS (₹) | Diluted EPS (₹) | NAV (₹ per share) | P/E Ratio | RoNW (%) | PAT Margin (%) |
| Pind Hospitality Limited | Standalone | 10.00 | 2,445.09 | 5.41 | 5.41 | 34.59 | [●] | 15.65 | 9.30 |
| United Foodbrands Ltd | Consolidated | 5.00 | 1,33,870.20 | (15.13) | (15.13) | 82.80 | (45.99) | (19.27) | (4.62) |
| Speciality Restaurants Ltd | Consolidated | 10.00 | 47,647.09 | 4.52 | 4.52 | 74.33 | 31.70 | 5.78 | 4.35 |
| Vikram Kamats Hospitality Ltd | Consolidated | 10.00 | 5,599.85 | 0.09 | 0.09 | 34.19 | 351.44 | 0.24 | 0.26 |
Strengths and Opportunities of Pind Hospitality IPO
Promoters have 25+ years of experience in restaurant management, supported by 135 full-time employees as of March 31, 2026.
Operates under the “Pind Punjab” brand, with five restaurants operational for more than three years and a presence across strategic locations in Pune.
Served 4.31 lakh delivery orders in FY26, while third-party food-delivery revenue stood at ₹1,916.48 lakh.
Offers 200+ dishes, including North Indian, Punjabi, Chinese and Thai cuisine, alongside vegetarian and non-vegetarian thalis and value combos.
IPO proceeds include funding for a 23,998 sq. ft. hotel-cum-banquet project in Lonavala, estimated to cost ₹2,746.99 lakh, with up to ₹1,269.81 lakh proposed from the IPO proceeds.
Risks and Threats of Pind Hospitality IPO
Delivery operations contributed 78.38% of revenue in FY26, making the business highly dependent on food-delivery demand and aggregator platforms.
The Company operates in a competitive restaurant and food-delivery industry with low barriers to entry, facing competition from local restaurants, food stalls, cloud kitchens and established players.
Any inability to maintain or strengthen the Pind Punjab brand, including adverse customer perception or publicity, could affect customer retention and financial performance.
The ₹2,746.99 lakh Lonavala hotel-cum-banquet project is exposed to potential construction delays and cost overruns.
Growth depends on securing suitable locations and managing leases, while the company also discloses certain pending/unobtained licences and approvals for restaurants operated by the Company/partnership firm.
Pind Hospitality IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 1.05% of the Net Issue |
| NII Shares Offered | Not less than 49.44% of the Net Issue |
| Retail Shares Offered | Not less than 49.51% of the Net Issue |
Pind Hospitality IPO Promoter Holding
The promoters of the company are Nimish Parveen Malhotra, Chirag Parveen Malhotra and Anita Malhotra.
Share Holding Pre-Issue | 84.72% |
Share Holding Post Issue | 59.3% |
Pind Hospitality IPO Prospectus
Pind Hospitality IPO Registrar and Lead Managers
Pind Hospitality IPO Lead Managers
Fedex Securities Private Limited
Registrar for Pind Hospitality IPO
Bighshare Services Private Limited
Contact Number: +91 22 62638200
Email Address: ipo@bigshareonline.com
Pind Hospitality IPO Registrar
How To Apply for Pind Hospitality IPO Online?
Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
Locate the IPO Section: Navigate to the 'IPO' section on the platform.
Select IPO: Find and select the Pind Hospitality IPO from the list of open IPOs.
Enter the Lot Size: Specify the number of lots you want to bid for.
Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of the Pind Hospitality IPO?
Steps to check IPO allotment status on Angel One’s app:
Log in to the Angel One app.
Go to the IPO Section and then to IPO Orders.
Select the individual IPO that you had applied for and check the allotment status.
Angel One will notify you of your IPO allotment status via push notification and email.
Don't miss the next investment opportunity - browse the Upcoming IPO on Angel One.
Contact Details of Pind Hospitality IPO
Registered Office: Plot no. 5, Sairung Woods, Hinjewadi Phase 2, Mulshi, Pune- 411057, Maharashtra India
Phone: +91 84373 76655
- How to Apply in IPO
- How to Check IPO Allotment Status
Login to Angel One App / Website & click on IPO
Select desired IPO & tap on "Apply"
Enter UPI ID, set quantity/price & submit
Accept mandate on the UPI app to complete the process
Pind Hospitality IPO FAQs
What minimum lot size can retail investors subscribe to?
Retail investors can apply for a minimum of two lots, comprising 2,400 equity shares. At the upper price band of ₹99 per share, the minimum investment required is ₹2,37,600.
When will the Pind Hospitality IPO be allotted?
The basis of allotment date for Shah Investor's Home is expected to be finalised on October 1, 2026.
How to increase your chances of getting a Pind Hospitality IPO allotment?
Multiple Submissions: Use different Demat accounts belonging to different eligible applicants to make separate applications.
Price Bidding: Opt for bidding at the cut-off price or the upper price band to avoid the application being rejected due to a lower bid.
Timely Subscription: Ensure you submit your IPO application within the specified subscription period and complete the required application process before the deadline.
Application Details: Check your PAN, Demat account, bank account and UPI details carefully before submitting the application to avoid rejection due to errors.
How do I approve the UPI mandate request for the Pind Hospitality IPO?
After submitting your IPO application, you will receive a UPI mandate request in your chosen UPI app. Review the details and approve the mandate before the specified deadline to complete your application.
Can I submit more than one application for the public issue of Pind Hospitality Limited using one PAN?
No, you should not submit multiple IPO applications using the same PAN under the same investor category. Multiple applications with the same PAN may be rejected as invalid during the allotment process.
What is 'pre-apply' for Pind Hospitality Limited IPO?
Pre-apply allows investors to submit their IPO application before the public issue officially opens for subscription. The application is saved in advance and is processed when the IPO opens.
If I pre-apply for the Pind Hospitality Limited IPO, when will my order get placed?
Pre-apply allows investors to apply for the Shah Investor's Home Limited IPO two days before the subscription period opens on Sep 28, 2026, ensuring an early submission of your application.
When will I know if my Pind Hospitality Limited IPO order is placed?
You will receive a confirmation once your IPO order has been successfully placed on the exchange. You will also receive notifications through your email and SMS.
Where is the Pind Hospitality Limited IPO getting listed?
The Shah Investor's Home Limited IPO is proposed to be listed on the BSE SME platform. The listing date is October 6, 2026.
