Pind Hospitality IPO is an SME Book Built public issue by Pind Hospitality Limited. The public issue consists entirely of a fresh issue of equity shares, with no Offer for Sale by existing shareholders. The equity shares are proposed to be listed on the BSE SME platform. The company is engaged in the hospitality sector and operates restaurants under the “Pind Punjab” brand in Pune, Maharashtra.
The objective of the fresh issue is primarily to fund capital expenditure for setting up a hotel-cum-banquet hall in Lonavala, Maharashtra, referred to as the “Haveli Project”. The remaining proceeds are proposed to be used for general corporate purposes and issue-related expenses.
Pind Hospitality Limited was incorporated in June 2021 and operates in the restaurant and hospitality business. The company, along with its partnership firm Pind Punjab, operates restaurants in Pune offering North Indian and Punjabi cuisine along with selected Chinese and Thai dishes.
The company serves customers through dine-in, takeaway, food delivery, online bookings, telephone orders, its own digital channels and outdoor catering. It has completed more than 5 lakh deliveries through third-party food delivery platforms and had 135 employees as of March 31, 2026.
Table of Contents
Pind Hospitality Limited IPO Details
| IPO Details | Information |
|---|---|
| IPO Name | Pind Hospitality IPO |
| Company Name | Pind Hospitality Limited |
| IPO Type | Book Built Issue |
| IPO Category | SME IPO |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹93 to ₹99 Per Share |
| Issue Size | ₹17.82 Crore |
| Fresh Issue | ₹17.82 Crore |
| Offer for Sale | Nil |
| IPO Open Date | 28 September 2026 |
| IPO Close Date | 30 September 2026 |
| Anchor Investor Bidding | 25 September 2026 |
| Basis of Allotment | 1 October 2026 |
| Refund Initiation | 5 October 2026 |
| Shares Credited to Demat Account | 5 October 2026 |
| Listing Date | 6 October 2026 |
| Listing Exchange | BSE SME |
| Lot Size | 1,200 Equity Shares |
| Registrar | Bigshare Services Private Limited |
| Book Running Lead Manager | Fedex Securities Private Limited |
The company plans to utilise the net proceeds primarily towards the Haveli Project in Lonavala. The proposed project involves setting up a hotel-cum-banquet hall, while the balance proceeds are proposed to be used for general corporate purposes.
Pind Hospitality IPO Dates
| IPO Event | Date |
|---|---|
| Anchor Investor Bidding | 25 September 2026 |
| IPO Opening Date | 28 September 2026 |
| IPO Closing Date | 30 September 2026 |
| Basis of Allotment | 1 October 2026 |
| Refund Initiation | 5 October 2026 |
| Shares Credited to Demat Account | 5 October 2026 |
| Listing Date | 6 October 2026 |
After the allotment process is completed, successful applicants will receive the allotted shares in their demat accounts before the company’s shares begin trading on the BSE SME platform.
Pind Hospitality IPO Reservation
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not More Than 50% |
| Non-Institutional Investors (NII) | Not Less Than 15% |
| Retail Individual Investors (RII) | Not Less Than 35% |
| Market Maker | 91,200 Shares |
The issue includes 91,200 equity shares reserved for the market maker. The remaining net issue comprises 18,000 shares for QIBs, 8,44,800 shares for NIIs and 8,46,000 shares for retail investors.
Pind Hospitality IPO Lot Size
| Application | Shares | Amount |
|---|---|---|
| Retail Minimum | 2 Lots (2,400 Shares) | ₹2,37,600 |
| Retail Maximum | 2 Lots (2,400 Shares) | ₹2,37,600 |
| S-HNI Minimum | 3 Lots (3,600 Shares) | ₹3,56,400 |
| S-HNI Maximum | 8 Lots (9,600 Shares) | ₹9,50,400 |
| B-HNI Minimum | 9 Lots (10,800 Shares) | ₹10,69,200 |
The application values shown above are calculated using the upper price band of ₹99 per equity share. The minimum retail application is two lots, or 2,400 shares.
About Pind Hospitality Limited
Pind Hospitality Limited was incorporated on June 15, 2021, and is engaged in the hospitality sector, primarily through restaurants operating under the “Pind Punjab” brand. The company is headquartered in Pune, Maharashtra and focuses on providing North Indian and Punjabi cuisine along with selected Chinese and Thai food options.
The company operates through dine-in restaurants, takeaway services, third-party food delivery applications, its own mobile application, online bookings and telephone orders. It also provides outdoor catering and bulk food orders to corporate and other customers.
Pind Hospitality has completed more than 5 lakh deliveries through third-party food delivery platforms. The company has also developed value-oriented offerings such as thalis, meal combinations and other affordable food options to serve different customer segments.
As of March 31, 2026, the company had 135 employees. It has followed a cluster-based expansion strategy, with its restaurant operations concentrated in Pune and plans to expand around Pune and Lonavala.
Business Operations
Pind Hospitality Limited operates through several hospitality and food-service channels.
- Restaurant Operations: The company operates restaurants under the Pind Punjab brand, offering Punjabi, North Indian and selected Oriental cuisine.
- Dine-In Services: Customers can visit the company’s restaurants for dine-in food and beverage services.
- Food Delivery: The company receives orders through third-party food delivery platforms as well as its own digital and telephone channels.
- Takeaway Services: Customers can place orders for takeaway through restaurants and other ordering channels.
- Outdoor Catering: The company provides catering services for corporate events, functions and other gatherings.
- Food Counter: The company also operates a food counter at an IT park in Pune, supporting its presence among office and corporate customers.
Industry Overview
India’s food service and hospitality industry has expanded with changing consumer lifestyles, urbanisation, increasing disposable income and greater adoption of food delivery platforms. Consumers increasingly use restaurants, takeaway services and online food ordering platforms for convenience and variety.
The restaurant industry is highly competitive and influenced by food costs, rental expenses, labour costs, customer preferences, delivery-platform commissions and location. Restaurant operators also need to maintain consistent food quality, service standards and customer experience.
Business Strategy
Pind Hospitality Limited follows a cluster-based expansion strategy by strengthening its presence in existing markets before entering new locations. The company plans to expand around Pune and Lonavala and explore additional restaurant concepts.
The company also intends to develop the Haveli Project in Lonavala, comprising a hotel-cum-banquet hall. The project is intended to provide additional hospitality and event-related revenue opportunities.
The company plans to continue using digital ordering channels, food delivery platforms and catering services while selectively exploring franchise and other expansion models.
Pind Hospitality IPO Financial Information
A company’s financial performance provides valuable insights into its revenue growth, profitability, operational efficiency, and financial stability. Reviewing financial statements over multiple years helps investors understand how the business has performed and how effectively it has generated earnings from its operations.
Pind Hospitality Financial Summary
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue from Operations | ₹20.78 Crore | ₹22.65 Crore | ₹24.45 Crore |
| Total Income | ₹20.87 Crore | ₹23.17 Crore | ₹24.91 Crore |
| EBITDA | ₹3.20 Crore | ₹4.23 Crore | ₹4.43 Crore |
| Profit Before Tax (PBT) | ₹2.94 Crore | ₹3.60 Crore | ₹3.52 Crore |
| Profit After Tax (PAT) | ₹2.21 Crore | ₹2.56 Crore | ₹2.27 Crore |
| Net Worth | ₹9.69 Crore | ₹12.25 Crore | ₹14.52 Crore |
| Total Assets | ₹26.04 Crore | ₹28.33 Crore | ₹37.72 Crore |
| Total Borrowings | ₹9.52 Crore | ₹8.66 Crore | ₹12.74 Crore |
Pind Hospitality reported growth in revenue from operations from ₹20.78 crore in FY2024 to ₹24.45 crore in FY2026. Total income increased from ₹20.87 crore to ₹24.91 crore over the same period.
PAT increased from ₹2.21 crore in FY2024 to ₹2.56 crore in FY2025 before declining to ₹2.27 crore in FY2026. Net worth increased from ₹9.69 crore in FY2024 to ₹14.52 crore in FY2026, while total assets increased to ₹37.72 crore.
Pind Hospitality IPO Key Performance Indicators (KPIs)
Key Performance Indicators help investors assess the company’s profitability, operational efficiency, financial strength, and capital utilisation. These financial ratios provide additional insights into the company’s overall business performance.
| KPI | FY2026 |
|---|---|
| Return on Equity (ROE) | 15.65% |
| Return on Capital Employed (ROCE) | 15.83% |
| Return on Net Worth (RONW) | 15.65% |
| EBITDA Margin | 16.14% |
| PAT Margin | 9.30% |
| Debt-to-Equity Ratio | 0.88 |
| Earnings Per Share (EPS) | ₹5.41 |
| Net Asset Value (NAV) Per Share | ₹34.59 |
The FY2026 financial indicators show a ROE and RONW of 15.65%, ROCE of 15.83%, EBITDA margin of 16.14% and PAT margin of 9.30%. The debt-to-equity ratio stood at 0.88.
Pind Hospitality IPO Valuation
| Particular | Value |
|---|---|
| EPS | ₹5.41 |
| NAV Per Share | ₹34.59 |
| Price Band | ₹93 to ₹99 |
| P/E at ₹93 | 17.19x |
| P/E at ₹99 | 18.30x |
| Price to Book Value at ₹99 | 2.86x |
The valuation figures are calculated using the FY2026 EPS of ₹5.41 and the IPO price band of ₹93 to ₹99 per share. Investors should evaluate the valuation alongside the company’s profitability, restaurant expansion plans, financial position and industry risks.
Objects of the Pind Hospitality IPO
The company intends to utilise the net proceeds from the fresh issue for the following purposes:
- Haveli Project: ₹12.70 crore is proposed to be utilised towards capital expenditure for setting up a hotel-cum-banquet hall in Lonavala, Maharashtra.
- General Corporate Purposes: The remaining proceeds are proposed to be utilised for general corporate purposes and issue-related expenses, subject to applicable regulations.
The proposed Haveli Project is intended to expand the company’s hospitality operations beyond its existing restaurant business and provide additional revenue opportunities through hotel and banquet services.
Pind Hospitality IPO Listing Performance
The listing performance reflects how the company’s shares perform on the stock exchange after the IPO. Since Pind Hospitality shares have not yet commenced trading, listing performance figures are currently not available.
| Particular | Value |
|---|---|
| Listing Exchange | BSE SME |
| Listing Date | 6 October 2026 |
| Issue Price | ₹99 Per Share |
| Listing Price | To be updated |
| Listing Gain | To be updated |
| Listing Gain (%) | To be updated |
The listing performance will be available after the company’s shares commence trading on the BSE SME platform.
Pind Hospitality IPO Subscription Status
The subscription figures indicate the level of investor participation received during the IPO bidding period. The Pind Hospitality IPO is scheduled to open on 28 September 2026 and subscription data will become available after bidding begins.
Pind Hospitality IPO Subscription
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | To be updated |
| Non-Institutional Investors (NII) | To be updated |
| Retail Individual Investors (RII) | To be updated |
| Market Maker | To be updated |
| Total Subscription | To be updated |
The final subscription figures will be available after the IPO closes. They will provide an indication of investor participation across various categories.
Pind Hospitality IPO Review
Pind Hospitality Limited operates in the restaurant and hospitality sector through the Pind Punjab brand. The company has established restaurant operations in Pune and serves customers through dine-in, takeaway, food delivery, online ordering and catering channels.
The company has reported growth in revenue from operations from ₹20.78 crore in FY2024 to ₹24.45 crore in FY2026. However, PAT declined from ₹2.56 crore in FY2025 to ₹2.27 crore in FY2026 despite the increase in revenue.
The proposed Haveli Project in Lonavala is an important part of the IPO strategy. The company plans to use ₹12.70 crore of the issue proceeds for the hotel-cum-banquet hall, which would diversify its business into additional hospitality and event services.
The company also has a multi-channel customer acquisition model through third-party delivery platforms, its own digital channels, restaurants, catering and corporate orders. Its cluster-based expansion strategy focuses on strengthening operations around Pune and Lonavala before entering additional markets.
However, the business operates in a competitive restaurant industry and is exposed to fluctuations in food costs, employee costs, rent, delivery-platform commissions and consumer preferences. The company also has dependence on third-party food delivery applications for a significant portion of its orders.
Investors should also consider the company’s relatively small scale, geographic concentration, execution requirements for the Haveli Project, debt levels and the decline in PAT in FY2026 before making an investment decision.
Pind Hospitality IPO Strengths
- Established Restaurant Brand: The company operates restaurants under the Pind Punjab brand and has developed experience in the Pune restaurant market.
- Multi-Channel Customer Reach: Customers can access the company through dine-in, takeaway, food delivery platforms, online bookings, telephone orders and catering services.
- Large Delivery Base: The company has completed more than 5 lakh deliveries through third-party food delivery platforms.
- Diverse Food Offering: The company offers North Indian and Punjabi cuisine along with selected Chinese and Thai dishes and value-based meal options.
- Expansion Through Haveli Project: The proposed Lonavala hotel-cum-banquet hall can diversify the company’s hospitality operations.
- Growing Revenue: Revenue from operations increased during FY2024 to FY2026.
Pind Hospitality IPO Risk Factors
- Geographical Concentration: The company’s restaurant operations are concentrated in Pune and nearby markets, increasing exposure to regional demand.
- Dependence on Food Delivery Platforms: A significant number of orders are generated through third-party food delivery applications, exposing the company to platform commissions and policy changes.
- Competitive Industry: The restaurant and hospitality sector has intense competition from organised chains, local restaurants and online food businesses.
- Execution Risk: The proposed Haveli Project requires substantial capital investment and successful execution.
- Food and Operating Costs: Changes in raw material prices, employee costs, rent and other operating expenses can affect profitability.
- Decline in FY2026 PAT: Profit after tax declined from ₹2.56 crore in FY2025 to ₹2.27 crore in FY2026 despite revenue growth.
Pind Hospitality IPO Promoters
Pind Hospitality Limited has three promoters: Nimish Parveen Malhotra, Chirag Parveen Malhotra and Anita Malhotra. The promoters have been associated with the company’s restaurant and hospitality operations.
Pind Hospitality IPO Promoters Details
| Promoter | Designation |
|---|---|
| Nimish Parveen Malhotra | Promoter |
| Chirag Parveen Malhotra | Promoter |
| Anita Malhotra | Promoter |
The promoters’ shareholding is reported at approximately 84.72% before the issue and 59.30% after the issue.
Pind Hospitality IPO Management Team
The company is led by a management team with experience in restaurant operations, hospitality, finance, corporate management and governance.
| Name | Designation |
|---|---|
| Nimish Parveen Malhotra | Chairman & Managing Director |
| Chirag Parveen Malhotra | Whole-time Director |
| Anita Malhotra | Executive Director |
| Arvind Kumar Kushwaha | Non-Executive Independent Director |
| Ashish Krishan Sharma | Non-Executive Independent Director |
| Shitij Mukesh Sharma | Non-Executive Independent Director |
| Navnath Shankar Shinde | Chief Financial Officer |
| Harleen Kaur | Company Secretary & Compliance Officer |
The management and director details are reported in current IPO disclosures.
Pind Hospitality IPO Registrar Details
The registrar is responsible for processing IPO applications, finalising the basis of allotment, crediting equity shares to successful applicants, initiating refunds, and handling investor-related services.
| Particular | Details |
|---|---|
| Registrar Name | Bigshare Services Private Limited |
| Website | https://www.bigshareonline.com |
| IPO Allotment Status | https://ipo.bigshareonline.com/IPO_Status.html |
| Email ID | [email protected] |
| Contact Number | +91 22 6263 8200 |
Bigshare Services Private Limited is the registrar to the Pind Hospitality IPO.
Pind Hospitality IPO Lead Manager Details
The Book Running Lead Manager is responsible for managing the IPO process, coordinating regulatory compliance, and assisting the company throughout the public issue.
| Particular | Details |
|---|---|
| Lead Manager | Fedex Securities Private Limited |
| Contact Persons | Saipan Sanghvi / Karuna Bangera |
| Email ID | [email protected] |
| Investor Grievance Email | [email protected] |
| Contact Number | +91 81049 85249 |
Fedex Securities Private Limited is identified as the Book Running Lead Manager to the issue.
Pind Hospitality Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | Pind Hospitality Limited |
| Registered Office | Plot No. 5, Sairung Woods, Hinjewadi Phase 2, Mulshi, Pune – 411057, Maharashtra |
| Website | https://www.pindpunjab.in |
| Email ID | [email protected] |
| Contact Number | +91 84373 76655 |
| Contact Person | Harleen Kaur |
The company’s registered office and investor contact information are disclosed in the offer-document-related information.
How to Check Pind Hospitality IPO Allotment Status
Investors can check the IPO allotment status after the basis of allotment is finalised through the registrar’s website or the BSE IPO portal.
Through Bigshare Services Private Limited
- Visit the official Bigshare IPO allotment portal.
- Select Pind Hospitality IPO from the IPO list.
- Choose PAN Number, Application Number, or DP/Client ID.
- Enter the required details.
- Click Submit to view the allotment status.
Through BSE
- Visit the official BSE IPO allotment page.
- Select Pind Hospitality IPO from the list of IPOs.
- Enter your PAN Number or Application Number.
- Complete the verification process if required.
- Click Search to view the allotment result.
Pind Hospitality IPO Conclusion
Pind Hospitality IPO provides investors with an opportunity to participate in the public issue of a restaurant and hospitality company operating under the Pind Punjab brand in Pune. The company has developed a multi-channel customer model covering dine-in, takeaway, delivery, online orders and catering.
The company has reported growth in revenue and net worth over FY2024 to FY2026, although PAT declined in FY2026. The proposed Haveli Project in Lonavala is a key use of IPO proceeds and is intended to expand the company’s hospitality business into hotel and banquet operations.
At the same time, investors should consider the company’s geographical concentration, dependence on food delivery platforms, competition, operating-cost pressures, execution requirements for the Haveli Project and recent profitability trends.
A detailed assessment of the company’s financial performance, IPO valuation, restaurant operations, expansion strategy, project execution, industry outlook and risk factors can help investors evaluate the Pind Hospitality IPO according to their own investment objectives.
Pind Hospitality IPO FAQs
What is Pind Hospitality IPO?
Pind Hospitality IPO is an SME public issue of Pind Hospitality Limited. The IPO comprises a fresh issue of up to 18,00,000 equity shares and is proposed to be listed on the BSE SME platform.
What is the price band of Pind Hospitality IPO?
The Pind Hospitality IPO price band is ₹93 to ₹99 per equity share.
What is the issue size of Pind Hospitality IPO?
The total issue size is ₹17.82 crore and consists entirely of a fresh issue of equity shares.
When will Pind Hospitality IPO open?
The Pind Hospitality IPO will open for subscription on 28 September 2026.
When will Pind Hospitality IPO close?
The IPO will close for subscription on 30 September 2026.
What is the lot size of Pind Hospitality IPO?
The lot size is 1,200 equity shares. Retail investors need to apply for a minimum of two lots, or 2,400 shares, at an application amount of ₹2,37,600 at the upper price band.
On which stock exchange will Pind Hospitality shares be listed?
The company’s equity shares are proposed to be listed on the BSE SME platform.
Who is the registrar for Pind Hospitality IPO?
Bigshare Services Private Limited is the registrar to the Pind Hospitality IPO.
What is the face value of Pind Hospitality IPO shares?
The face value of each equity share is ₹10.
What does Pind Hospitality Limited do?
Pind Hospitality Limited operates in the hospitality sector through restaurants under the Pind Punjab brand, offering North Indian and Punjabi cuisine along with selected Chinese and Thai dishes through dine-in, takeaway, delivery and catering channels.
