Pind Hospitality IPO
Pind Hospitality LtdSME
This IPO is now Live.
- Open date
- 28 Sep 2026
- Close date
- 30 Sep 2026
- Min. Investment
- ₹2,37,600
- Lot Size
- -
- Fresh Issue
- ₹17.82 Cr
- Price Range
- -
- Face Value
- -
- IPO Document
- DRHP - PDF(opens in a new tab)
Subscription rate
- Qualified Institutional Buyers1.00x
- Non-Institutional Investors0.00x
- Retail-Individual Investors0.02x
- Total0.02x
Schedule
- Completed: IPO open date28 Sep 2026
- Current step: IPO close date30 Sep 2026
- Upcoming: Allotment date1 Oct 2026
- Upcoming: Funds unblock or debit5 Oct 2026
- Upcoming: Tentative listing date6 Oct 2026
About
Promoter shareholding in Pind Hospitality Ltd, before and after the issue.
| Promoter | Pre-issue shares | Pre-issue % | Post-issue shares | Post-issue % |
|---|---|---|---|---|
| Anita Malhotra | 13,93,014 | 33.18% | 13,93,014 | 23.22% |
| Nimish Parveen Malhotra | 11,36,406 | 27.06% | 11,36,406 | 18.94% |
| Chirag Parveen Malhotra | 10,27,742 | 24.48% | 10,27,742 | 17.13% |
Pind Hospitality IPO Strengths & Risks
- Experienced Promoters, management team and dedicated staff.
- Attractive offerings at competitive prices based on constant menu innovation and customer focus.
- Strong on-line presence.
- Strategic locations.
- Strong financial position and profitability.
- Risks Relating to the Business: Any adverse development in relation to the company's relationship with as well as performance of third-party food delivery apps, may adversely affect its business, results of operations and financial condition.
- Risks Relating to the Business: The company is exposed to all of the risks associated with leasing real estate, and any adverse developments could materially affect its business, results of operations and financial condition.
- Risks Relating to the Business: The company generates all its revenues from the city of Pune, Maharashtra and nearby location. Any event negatively affecting the consumer food services industry in the city of Pune and nearby location could have a material adverse effect on the company's overall business and results of operations.
- Risks Relating to the Business: The company propose to utilise a significant portion of the Net Issue Proceeds, constituting approximately [?]% of the total Issue Proceeds towards construction of its Haveli Project in Lonavala, Maharashtra.
- Risks Relating to the Business: The Company, its Partnership firm and the company's Promoters are parties to certain tax proceedings. Any adverse decision in such proceedings may have a material adverse effect on its business, results of operations and financial condition.
- Risks Relating to the Business: If the company is unable to continue to build the Pind Punjab brand, its business, reputation and results of operations may be adversely affected.
- Risks Relating to the Business: The company may not be able to identify and obtain suitable restaurant locations, which could impact the company's ability to achieve its growth strategy and meet the company's development commitments, which could adversely impact on its business, results of operations and financial condition.
- Risks Relating to the Business: The Company had negative cash flows during certain fiscal years in relation to its investing and financing activities. Sustained negative cash flows in the future would adversely affect the company's results of operations and financial condition.
- Risks Relating to the Business: There are certain discrepancies and non-compliances noticed in some of the company's financial reporting and/or records relating to the filing of returns and deposit of statutory dues with the taxation and other statutory authorities.
- Risks Relating to the Business: The company has had instances of regulatory non-compliances, including certain lapses in relation to regulatory filings, internal controls and internal record keeping under applicable company law.
- Risks Relating to the Business: Pind Punjab, a partnership firm in which the Company is a partner, has faced regulatory action in the past, including suspension of a license required for its restaurant operations, which could recur and adversely affect the company's business and reputation.
- Risks Relating to the Business: If the company is unable to foresee or respond effectively to significant competition its business, results of operations and financial condition could be adversely affected.
- Risks Relating to the Business: The company make significant capital improvements to its leased premises, the cost of which the company may be unable to recoup.
- Risks Relating to the Business: Real and perceived health concerns arising from food-borne illnesses, epidemics, quality or other negative food related incidents could have a material adverse effect on the company's business, results of operations and financial condition.
- Risks Relating to the Business: Changes in consumer preferences and food habits as well as negative perception of the food delivery and dining industry could decrease the demand for the company's products and have a material adverse effect on its business, results of operations and financial condition.
- Risks Relating to the Business: The company proposed construction of Haveli Project is subject to the risk of unanticipated delays in implementation and cost overruns.
- Risks Relating to the Business: Marketing and advertising campaigns that the company's contribute towards may not be effective in increasing the popularity of its brand. If the company's marketing initiatives are not effective, this may adversely affect its business.
- Risks Relating to the Business: The CIBIL reports of certain of the company's Promoters reflect a "suit filed" status, and its cannot assure you that this will not adversely affect the company's reputation or the trading price of the Equity Shares.
- Risks Relating to the Business: Increasing cost of raw materials and other costs could adversely affect the company profitability.
- Risks Relating to the Business: The Company and its Partnership Firm requires certain approvals and licenses in the ordinary course of business and is required to comply with certain rules and regulations to operates the company's business, any failures to obtain, retain and renew such approvals and licences or comply with such rules and regulations may adversely affect its operations.
- Risks Relating to the Business: If the company fails to manage its growth effectively, the company may be unable to execute its business plan or maintain high levels of service and satisfaction, and the company's business, results of operations, cash flows and financial condition could be adversely affected.
- Risks Relating to the Business: The company's lenders have charge over its movable and immovable properties in respect of finance availed by the company.
- Risks Relating to the Business: The company has incurred borrowings from commercial banks / FIs and any non-compliance with repayment and other covenants in its financing agreements could adversely affect the company's business and financial condition.
- Risks Relating to the Business: The company's Promoter and member of Promoter Group are co-borrowers and guarantors in connection with some of its debt facilities to the Company. There can be no assurance that such co-borrowing and guarantee will be continued to be provided by the company's Promoters in future or can be called at any time, affecting the financial arrangements.
- Risks Relating to the Business: The company has in the past entered into related party transactions and may continue to do so in the future, which may potentially involve conflicts of interest with its shareholders and Directors.
- Risks Relating to the Business: The company's inability or failures to recognize, respond to and effectively manage the accelerated impact of social media could materially adversely affect its business.
- Risks Relating to the Business: The company is dependent on a number of Promoter Directors and Key Managerial Personnel, and the loss of or the company's inability to attract or retain such persons could adversely affect its business, results of operations and financial condition.
- Risks Relating to the Business: While the company has incurred significant amount towards Haveli Project, the company is yet to place orders on the expenses to be incurred. In the event of any delay in placing the orders, or in the event the vendors are not able to provide the materials, furniture & fixtures, equipment, plant & machineries in a timely manner, or at all, the same may result in time and cost over-runs.
- Risks Relating to the Business: The company operates in a competitive and fragmented industry with low barriers to entry and may be unable to compete with a range of unorganized sector.
- Risks Relating to the Business: Any failures on the company's part to effectively manage its inventory may result in an adverse effect on the company's business, revenue from manufacturing operations and financial condition.
- Risks Relating to the Business: The company relies on third-party logistics providers for transportation, supply and delivery of most of its ingredients, packaging materials as well as other necessary supplies and if they fails to deliver, there may be disruptions or delays in the company's services, which could have an adverse effect on its business, results of operations and financial condition.
- Risks Relating to the Business: Increases in employee costs or the company failures to attract, motivate and retain qualified personnel could adversely affect its business, results of operations and financial condition.
- Risks Relating to the Business: The company may be unable to detect, deter and prevent all instances of fraud or negligence or other misconduct committed by its employees or other third parties, which may have a material adverse effect on the company's business, results of operations and financial condition.
- Risks Relating to the Business: The company is dependent on the adequate and timely delivery of quality ingredients, packaging materials and other necessary supplies and if its suppliers fails to provide the company with sufficient quality and quantities of ingredients, packaging materials and other necessary supplies, its business, results of operations and financial condition could be adversely affected.
- Risks Relating to the Business: Inability to maintain adequate internal controls may affect the company's ability to effectively manage its operations, resulting in errors or information lapses.
- Risks Relating to the Business: The company's Promoters will continue to retain majority shareholding in the company after the Issue, which will allow them to exercise significant influence over the company and potentially create conflicts of interest.
- Risks Relating to the Business: If the company is unable to comply with health, safety and environmental regulations, and any other regulations, its business, results of operations and reputation could be adversely affected.
- Risks Relating to the Business: The company may be unable to accurately forecast demand for its products, which could have a material adverse impact on the company's brand, profit margins and results of operations.
- Risks Relating to the Business: Some of the company's Promoters as well as some Directors on its Board and their relatives hold Equity Shares and are therefore interested in the Company's performance in addition to their remuneration and reimbursement of expenses.
- Risks Relating to the Business: The company funding requirements and the proposed deployment of Net Proceeds are not appraised by any independent agency, which may affect its business and results of operations.
- Risks Relating to the Business: The insurance policies the company maintain may be insufficient to cover future costs and losses the incurrence or magnitude of which are unforeseen or unpredictable and could result in an adverse effect on the company's business operations, financial condition, results of operations and cash flows.
- Risks Relating to the Business: The company's Promoters or Directors may enters into ventures that may lead to real or potential conflicts of interest with its business.
- Risks Relating to the Business: Industry information included in this Red Herring Prospectus has been derived from industry sources. There can be no assurance that such third-party statistical, financial and other industry information is complete, reliable or accurate. Further, neither the company nor the BRLM have independently verified certain data in this Red Herring Prospectus.
- Risks Relating to the Business: The company's ability to pay dividends in the future will depends on its earnings, financial condition, working capital requirements, capital expenditures and restrictive covenants of the company's financing arrangements.
- Risks Relating to the Business: The Company has availed unsecured loans that may be recalled by the lenders at any time.
- Risks Relating to the Business: The company may be unable to sufficiently obtain, maintain, protect, or enforce its intellectual property and other proprietary rights.
- Risks Relating to the Business: The company's Statutory Auditors have included certain emphasis of matter in their examination report on the Restated Consolidated Financial Information. There can be no assurance that any similar emphasis of matters will not form part of its financial statements for the future fiscal periods, which could subject the company to additional liabilities due to which its reputation and financial condition may be adversely affected.
- Risks Relating to the Business: Failures to successfully update the company's menus and introduce new menu items and products may adversely affect its business.
- Risks Relating to the Business: The company's current restaurant locations may become unattractive.
- Risks Relating to the Business: Most of the company's restaurants are susceptible to the consequences of extreme weather conditions.
- Risks Relating to the Business: The company's restaurant sales are subject to seasonality and job market trends.
- Risks Relating to the Business: The company does not have definitive agreements or fixed terms of trade with some of its suppliers. Failures to successfully maintain the company's supplier relationships and network or to identify new suppliers could adversely affect the company.
- Risks Relating to the Business: There is no monitoring agency appointed by the Company to monitor the utilization of the Issue proceeds.
- Risks Relating to the Business: Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
- Risks Relating to the Business: The company funding requirements and the proposed deployment of Net Proceeds are based on management estimates and have not been appraised by any bank or financial institution or any other independent agency and may be subject to change based on various factors, some of which may be beyond its control. The company has not entered into any definitive agreements to utilise certain portions of the Net Proceeds of the Issue.
- Risks Relating to the Business: In the event there is any delay in the completion of the Issue, there would be a corresponding delay in the completion of the objects / schedule of implementation of this Issue which would in turn affect the company's revenues and results of operations.
- Risks Relating to the Business: There is no guarantee that the company's Equity Shares will be listed on the Stock Exchanges in a timely manner or at all.
- Risks Relating to the Business: The company has not identified any alternate source of raising the funds required for the object of the Issue and the deployment of funds is entirely at its discretion and as per the details mentioned in the section titled "Objects of the Issue".
- Risks Relating to the Business: There are restrictions on daily movements in the trading price of the Equity Shares, which may adversely affect a shareholder's ability to sell Equity Shares or the price at which Equity Shares can be sold at a particular point in time.
- Risks Relating to the Business: None of the company's Directors except Shitij Mukesh Sharma have any prior experience of being a Director in any other listed Company in India.
- Risks Relating to the Business: The average cost of acquisition of Equity Shares for the company's Promoters may be lower than the Issue Price.
- Risks Relating to the Business: The Company and Promoters have caused delays in repayment of loans in the past, which may adversely affect its credit profile, access to future financing and investor confidence.
