Pride Hotels IPO

Pride Hotels Limited IPO is a Book Building Issue consisting of a Fresh Issue of ₹260.00 crores and an Offer for Sale of up to 3.92 crore equity shares.

The equity shares are proposed to be listed on the National Stock Exchange of India and the Bombay Stock Exchange. Motilal Oswal Investment Advisors Limited is the Book Running Lead Manager, and KFin Technologies Limited is the Registrar to the Issue. Key details, such as the initial public offering dates, price band, and lot size, are yet to be announced.

About Pride Hotels Limited

Pride Hotels Limited was incorporated in Mumbai, Maharashtra, in February 1983 under the Companies Act, 1956, and commenced its hotel operations in 1987 with the opening of its first owned hotel in Pune, Maharashtra. The company is an Indian hospitality brand engaged in owning, developing, operating, and managing a diversified portfolio of hotels and resorts under the brand name Pride Hotels and Resorts. With over 38 years of experience in the hospitality industry, the company has expanded its presence across 32 cities in India.

The company operates through two primary business models: ownership and management of hotels, and hotel management agreements with third-party hotel owners. As of the date of the Draft Red Herring Prospectus, its operating portfolio comprised 34 hotels and resorts with an aggregate inventory of 2,723 rooms, referred to as keys in the prospectus. This included seven owned hotels and resorts with 1,136 keys and 27 managed hotels and resorts with 1,587 keys. The company is the fourth-largest group among domestic hotel chains promoted by family-owned businesses and the sixth-largest hotel chain in India in terms of owned room inventory across the upscale, upper midscale, and midscale segments, as of June 30, 2025, according to the Horwath Report.

The company operates its hospitality business under four sub-brands: Pride Plaza, positioned in the upscale segment; Pride Premier, positioned in the upper midscale segment; Pride Elite, catering to the midscale segment; and Biznotel by Pride, also positioned in the midscale segment. These brands cater to different customer categories, including business travellers, leisure guests, families, and corporate clients. The company's hotels offer accommodation, food and beverage services, banquet and event facilities, and other hospitality-related amenities. Its hospitality philosophy, summarised as "Truly Indian. Traditionally Luxurious," focuses on incorporating Indian cultural elements, traditional hospitality, and regional cuisine into the guest experience.

Under its owned hotel business, the company operates properties where it owns the hotel assets, including buildings, equipment, furniture, and fixtures. Four of its seven owned hotels are situated on freehold land, while the remaining three are located on leasehold land owned by third parties. Its owned portfolio includes properties in Delhi, Ahmedabad, Kolkata, Pune, Bengaluru, Nagpur, and Chennai. Under its managed hotel business, the company enters into hotel management agreements with third-party property owners and provides operational management, sales and marketing, staffing, training, brand management, and revenue optimisation services. It earns revenue through fixed signing fees, technical service fees, annual marketing contributions, and incentive fees linked to the gross profits generated by managed hotels.

The company has established a presence across key business destinations, metropolitan cities, leisure locations, and pilgrimage centres in India. Its portfolio includes hotels such as Pride Plaza Delhi, Pride Plaza Ahmedabad, Pride Plaza Kolkata, Pride Hotel Pune, Pride Hotel Nagpur, Pride Hotel Chennai, and Pride Hotel Bengaluru. The managed portfolio includes properties such as Pride Amber Villas Resort in Jaipur, Pride Sun Village Resort and Spa in Goa, Pride Ananya Resort in Puri, Pride Hotel Udaipur, and other properties across various states. The company also leverages its established brand presence, regional sales teams, corporate relationships, travel agents, tour operators, and online travel agencies to generate bookings and improve hotel occupancy.

Industry Outlook

• The Indian hospitality industry encompasses business travel, leisure tourism, and pilgrimage tourism, with demand closely linked to economic growth, rising disposable incomes, and increasing tourism activity. The industry was valued at approximately USD 32 billion in 2023 and is projected to reach USD 57 billion by 2028, registering a compound annual growth rate (CAGR) of approximately 12%.
• India's chain-affiliated hotel inventory stood at approximately 209,000 rooms as of June 30, 2025, across various hotel segments. Additionally, around 117,000 rooms were in the development pipeline, with expected openings by FY2030, although project delays may affect the actual supply.
• The hotel industry's supply composition has become increasingly diversified across different price segments. As of June 30, 2025, luxury and upper-upscale hotels accounted for 33.7% of total supply, upscale and upper-midscale hotels accounted for 38.1%, while midscale and economy hotels represented 28.2%. Upscale, upper-midscale, and midscale hotels are expected to account for 60% of new supply between June 2025 and FY2030.
• Demand for chain-affiliated hotels in India increased from approximately 61,000 rooms per day in FY2015 to 127,000 rooms per day in FY2025, registering a CAGR of 7.6%. Demand during FY2023–FY2025 grew at a CAGR of 5.6%, while demand for the quarter ended June 30, 2025, increased by 10.6% compared with the corresponding quarter of the previous year.
• Domestic tourism remains a significant demand driver for the Indian hospitality industry. According to the industry report, domestic travel visits aggregated approximately 2.3 billion in calendar year 2019. Domestic visitor spending reached ₹15.5 trillion in CY2024, representing a 6.2% increase over CY2023, and is estimated to reach ₹16 trillion in CY2025. It is projected to grow to ₹33.9 trillion by CY2034, at a CAGR of 8.2%.

Pride Hotels IPO Objectives

The company proposes to utilise the net proceeds from the IPO for the following objectives:

• Funding capital expenditure towards renovation of existing hotels.
• Repayment and prepayment in full of part of certain borrowings.
• Towards general corporate purposes.

Financial Performance of Pride Hotels Limited

Pride Hotels Limited Peer Details Comparison 

Strengths and Opportunities of Pride Hotels IPO

1. Pride Hotels has over 38 years of experience in the hospitality industry. As of the DRHP date, it operated 34 hotels and resorts comprising 2,723 keys across 32 cities in India. Its portfolio covers business hubs, leisure destinations, and pilgrimage centres, reducing dependence on any single market.
2. The company offers different categories of rooms along with amenities such as restaurants, bars, banquets, spas, wellness and fitness centres, children's play areas, and laundry services. It also operates over 50 food and beverage outlets, enabling it to cater to varied customer preferences and generate revenue beyond room bookings.
3. Pride Hotels has developed four hospitality brands — Pride Plaza, Pride Premier, Pride Elite, and Biznotel by Pride — across the upscale, upper-midscale, and midscale segments. Its focus on Indian culture and regional hospitality, supported by brand-building initiatives and its Pride Privilege loyalty programme, provides opportunities to strengthen brand recall and repeat bookings.
4. The company operates 27 hotels under management agreements with third-party owners, comprising 1,587 keys. This model supports expansion with relatively lower capital investment. Its experience in acquiring and renovating underperforming properties, including Pride Premier Chennai and Pride Premier Nagpur, also provides opportunities to improve asset performance.
5. Pride Hotels uses centralised procurement to achieve cost savings, monitors guest feedback through its Guest Satisfaction Index, and adopts energy-efficient measures, including renewable energy. These initiatives are intended to improve service quality, control operating expenses, and enhance profitability.
6. The company's Managing Director, Sureshchand Premchand Jain, has over four decades of experience in the hospitality industry, while CEO Satyen Suresh Jain has been associated with the company for over 20 years. The senior management team also brings experience across hotel operations, branding, product innovation, design, and construction, supporting the execution of its expansion plans.

Risks and Threats of Pride Hotels IPO

1. A deterioration in the quality or reputation of Pride Hotels’ brands could reduce customer confidence, lower occupancy rates, and affect repeat bookings. Negative guest reviews, inconsistent service quality, operational disruptions, or adverse publicity could also impact the company’s ability to attract new customers and retain hotel management contracts.
2. The company depends heavily on its seven owned hotels for revenue and profitability, exposing it to concentration risks. Its Owned Portfolio contributed 93.76% of profit before tax in FY2025. Any decline in demand, occupancy, or revenue at these properties could adversely affect its financial performance and cash flows.
3. A significant portion of the company’s revenue is concentrated in its Delhi hotel. Any adverse developments affecting this property or the region, including increased competition, weaker demand, or economic disruptions, could materially impact its revenue, results of operations, and financial condition.
4. The company derives a substantial portion of its revenue from food, beverages, and banquet operations. Changing consumer preferences, rising input costs, and regulatory requirements could increase operating expenses and negatively affect profitability and cash flows.
5. The hospitality sector is highly competitive, with domestic and international hotel chains, online travel agencies, hotel aggregators, and alternative accommodation providers competing for customers. Competitors offering lower room rates, better amenities, or stronger loyalty programmes could affect Pride Hotels’ occupancy, average room rates, RevPAR, and profitability.
6. Pride Hotels depends on third-party hotel owners for its Managed Portfolio. Termination or non-renewal of management agreements, disputes with property owners, or their failure to maintain and upgrade hotel facilities could result in loss of management fee revenue, reputational damage, and adverse effects on the company’s business and financial condition.

Pride Hotels IPO Reservation

Pride Hotels IPO Promoter Holding

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

Pride Hotels IPO Prospectus

• Pride Hotels IPO DRHP

Pride Hotels IPO Registrar and Lead Managers

Pride Hotels IPO Lead Managers

• Motilal Oswal Investment Advisors Limited
• JM Financial Limited

Registrar for Pride Hotels IPO

Kfin Technologies Limited

• Contact Number: 040-79615565
• E-mail: pride.ipo@kfintech.com

Pride Hotels IPO Registrar

How To Apply for Pride Hotels IPO Online?

1. Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
2. Locate the IPO Section: Navigate to the 'IPO' section on the platform.
3. Select IPO: Find and select the Pride Hotels IPO from the list of open IPOs.
4. Enter the Lot Size: Specify the number of lots you want to bid for.
5. Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
6. 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 Pride Hotels IPO?

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1. Log in to the Angel One app.
2. Go to the IPO Section and then to IPO Orders.
3. Select the individual IPO that you had applied for and check the allotment status.
4. Angel One will notify you of your IPO allotment status via push notification and email.

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Contact Details of Pride Hotels IPO

Registered Office: Asset 5A, Hospitality District, Delhi Aerocity, Indira Gandhi International Airport New Delhi 110037, Delhi, India.

Phone: +91 22 4037 2414

E-mail: cs@pridehotel.com