Pride Hotels plans ₹1,000cr IPO by December 2026 to expand
Business
Pride Hotels is getting ready for its IPO by December 2026, hoping to raise ₹1,000 crore to fuel its next phase of growth.
Over the past year, it has grown its portfolio to 40 hotels and has already signed deals for 32 more, so it is aiming for a total of 72 properties in the next two years.
The focus is on popular spots for weddings, events, and pilgrimages like Puri.
IPO funds for renovations and debt
The IPO money will go toward renovating hotels and paying off debt. With energy costs rising, Pride Hotels is also investing in renewable power and energy-saving tech.
It is even thinking about launching a swanky new brand called Pride Lux to level up its offerings at home, though international expansion isn't on the table just yet.