- Pride plans IPO worth $104.73 million.
- Nine hotels opened over the past year.
- 32 more planned over two years.
The company filed preliminary papers with the Securities and Exchange Board of India in October 2025 and received approval to launch the IPO in January, Satyen Jain, Pride CEO told PTI. The IPO will include a fresh share issue worth $27.2 million and an offer for sale of up to $410,300 shares by promoters and promoter group entities. The funds will be used to renovate existing hotels, repay debt and meet general corporate needs.
The portfolio includes eight owned and 32 managed hotels. Pride has signed 32 more, which could take the portfolio to around 72 properties over the next 18 to 24 months. As part of its expansion, executive director Atul Upadhyay said the company plans to increase its share of owned hotels.
Pride is focusing on four areas: expanding in existing markets, adding larger wedding and MICE hotels, entering new leisure destinations and growing in pilgrimage centers.
"Unlike a holiday destination, in pilgrimage, if you believe in that particular God, you will keep going multiple times in a year. So, there are a lot of repeat customers," Jain told PTI.
Higher operating costs remain a concern, with gas and electricity expenses up 8 to 9 per cent. Pride is investing in wind and solar power and energy-efficient equipment to manage costs. Licensing remains a key challenge, as multiple approvals can delay hotel openings even after construction is complete.
On technology, Pride developed “Pride Genie,” an internal tool that helps employees access standard procedures and operational guidance. The company also expects AI to improve guest service and may launch the upper-upscale boutique brand Pride Lux. It remains focused on the domestic market but could consider international markets with a large number of Indian travelers in the future.
Pride expects leisure travel demand to grow as incomes rise, air and highway connectivity improves, and travel habits change. Younger consumers are also taking holidays more often.
Jain said younger consumers are taking holidays more often and are increasingly choosing experiences over buying things.
In May, Pride opened the 51-key Pride Elite Himmatnagar in Gujarat, its first property in Himmatnagar.
