Pride Hotels IPO Review: Finance Trading Times

Pride Hotels IPO Review

One more IPO in the Indian Markets, this time from the hospitality sector.
Pride Hotels Limited from Mumbai is all set to come out with its IPO.

What is the size of Pride Hotels IPO
A total of 5,950,000 equity shares will be sold through the Pride Hotels IPO Book building process

What is the share price of Pride Hotels IPO ?
The face value is Rs. 10, the price band to be decided at a later stage and the process will be 100% book building.

What exchanges the shares will be listed on?
BSE and NSE

Any shares reserved for employees?
Yes, a total of 50,000 shares are for Employees of Pride Hotels.

Where will the Pride Hotels IPO proceeds be used?
Off course for business expansion. Funds raised from the IPO will go in meeting the costs of construction of new projects in Mumbai, Alibaug, Goa and Bangalore, as well as expansion and renovation of existing hotel property at Pune, Ahmedabad and Nagpur.

Who is the BRLM for Pride Hotels IPO
The book running lead manager to the issue is Edelweiss Capital.

They have also forayed into the south Indian Markets. The company’s property in Chennai is now fully operational. Catering to business executives at the middle and senior management levels, it boasts 115 rooms, a coffee shop, restaurant and two banquet halls. The property is spread over 9,904.25 sq. ft.

Related: DB Corp Dainik Bhaskar IPO Review, Hathway IPO Review, Shankara Pipes IPO Review, GSPC IPO Review

According to the news on economic times:

Pride Hotels has properties in Pune and Nagpur in Maharashtra; Ahmedabad in Gujarat, and at Chennai in Tamil Nadu, and together it has 430 rooms, 11 food and beverage outlets and 19 banquet halls.

The company has three subsidiaries, namely, Indralok Hotels, Somti Hotels and Pride Beach Resorts. It also has an associate concern, Jagsons Hotels, in which Pride Hotels holds 22.34 per cent equity.

The company plans to set up hotels in Bangalore (Karnataka), in Mumbai and Alibaug (Maharashtra) and in Goa which are among the key travel destinations for leisure and business purposes

More and more IPO’s coming out everyday. Let’s see how the Pride Hotels IPO performs in these market timings. Table of Contents
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