Pride Hotels plans Rs 1,000-crore IPO by December

Pride Hotels is set to launch its initial public offering (IPO) by December 2026, with an issue size of around Rs 1,000 crore, as the hospitality chain accelerates expansion across leisure, wedding, corporate events and pilgrimage destinations, CEO Satyen Jain said. The company filed its preliminary papers with SEBI in October 2025 and received approval in January 2026.

The IPO comprises a fresh issue of shares worth Rs 260 crore and an offer for sale of up to 3.92 crore shares by promoters. Proceeds will fund renovation of existing hotels, debt repayment and general corporate purposes. Pride Hotels has opened nine hotels in the last 12 months, taking its portfolio to 40 properties, with contracts signed for another 32 hotels expected to open over the next 1.5 to 2 years.

Chairman S P Jain flagged rising operating costs as a concern, noting gas and electricity expenses have risen 8-9 per cent. To contain costs, the company is investing in wind and solar power and energy-efficient equipment. He also cited licensing as the biggest challenge for the hospitality industry, calling for streamlined approvals. The company remains focused on the domestic market for now.