Pride Hotels Targets IPO by March 2026 to Fuel Expansion and Debt Reduction

Pride Hotels, based in Pune, plans to launch an IPO by March 2026 to fund hotel renovations and reduce debt. The IPO aims to raise Rs 260 crore, with Rs 159.68 crore earmarked for modernizing six hotels. The company is expanding its portfolio, with 21 properties under development and significant presence in India's business, leisure, and pilgrimage sectors.

Pride Hotels, a hospitality chain headquartered in Pune, is gearing up for an initial public offering (IPO) by March 2026, according to Chairman and Managing Director Sureshchand Premchand Jain. The IPO is expected to fund renovations and debt repayment.

The proposed IPO includes fresh equity shares worth Rs 260 crore and an offer for sale of 3.92 crore equity shares. Of the proceeds, Rs 159.68 crore will be allocated for modernizing existing properties, Rs 40 crore for settling debts, with the remainder for corporate use.

The company, which operates under the "Pride Hotels and Resorts" brand, plans substantial expansion across India, particularly in business, leisure, and pilgrimage sectors. 21 properties are in development, with additional projects in the pipeline, aiming to strengthen its footprint with an asset-light growth model.

(With inputs from agencies.)