Pride Hotels Plans for IPO Amid India’s Booming Tourism

Indian hospitality group Pride Hotels has filed its Draft Red Herring Prospectus (DRHP) with the Securities Exchange Board of India (SEBI), initiating the process for the Initial Public Offering (IPO).

The company aims to raise approximately INR 2.6 billion (about $29 million) through a fresh issuance of equity shares. Additionally, the promoters intend to offload up to 39 million shares through an Offer for Sale (OFS).

The company plans to list its IPO shares on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).

Pride Hotels has over 38 years of experience in owning, developing, and managing hotels and resorts under several sub-brands within the Pride Hotels and Resorts group. The company owns seven hotels and operates 27 properties, totaling over 2,700 keys across 34 operational hotels and resorts in India.

The announcement aligns with increased investor interest in the Indian travel and hospitality sector, as several companies seek capital to fund growth amid rising demand for both domestic and international tourism.

Pride Hotels plans to use the capital raised to enhance its financial position, modernize existing properties, and strengthen its market presence in the mid-scale and upscale hotel segments across India.

In July 2025, one of the largest Indian OTAs, MakeMyTrip, raised $3.1 billion through a mix of equity and debt, primarily to reduce Trip.com Group’s ownership stake to 16.9 percent.

With Trip.com now holding a minority stake, MakeMyTrip has gained more independence in decision-making.

Photo by Martin Jernberg on Unsplash