Hospitality chain Pride Hotels has received approval from the capital markets regulator SEBI to raise funds through an initial public offering (IPO). The company’s shares are proposed to be listed on the BSE and NSE. Motilal Oswal Investment Advisors Ltd and JM Financial are the book-running lead managers for the IPO.
The company plans to raise around ₹1,000 crore through the public issue. Pride Hotels had filed its draft red herring prospectus (DRHP) with SEBI in October 2025 and received approval to proceed with the IPO on January 16.
As per the draft papers, the IPO will comprise a fresh issue of equity shares worth ₹260 crore, along with an offer-for-sale (OFS) of up to 3.92 crore shares by promoters and promoter group entities.
The company may also explore a pre-IPO placement of up to ₹52 crore. If undertaken, the size of the fresh issue will be reduced accordingly.
Net proceeds from the issue will be utilised to fund capital expenditure for renovation of existing hotels, repayment of debt, and general corporate purposes.
Also Read: Parmeshwar Recycling Receives Exchange Approval for IPO Launch
Pride Hotels currently operates 34 hotels and resorts with a total of 2,723 rooms. These properties are located in New Delhi, Ahmedabad, Kolkata, Bengaluru, Pune, and Chennai. Alongside refurbishing existing assets, the company is stepping up its expansion strategy.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a private recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Jan 29, 2026, 8:48 AM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
Know MoreWe're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
