- Summary
- Pind Hospitality IPO is a book-built SME issue of ₹17.82 crore, offering only fresh shares, that opens on 28 September 2026.
- Investors can bid at ₹93.00/share–₹99.00/share, with 2 lots comprising 2,400 shares.
- Pind Hospitality operates five restaurants in Pune and is expanding into Lonavala with its Haveli Project, while maintaining revenue growth and profitability.
Pind Hospitality IPO is a ₹17.82 crore book-built SME issue, entirely made up of a fresh issue of 18,00,000 Equity Shares of face value of ₹10.
The IPO opens for bidding from 28 September 2026 to 30 September 2026. The allotment of the shares is tentatively fixed on 1 October 2026. The listing is scheduled for 6 October 2026 on BSE SME.
The price band has been set at ₹93.00/share–₹99.00/share. This lot size is 1,200 shares. With the upper band, retail investors must invest a minimum of ₹2,37,600.00 for 2 lots. For the HNIs, the minimum lot size is 3 lots (3,600 shares), which amounts to ₹3,56,400.
Pind Hospitality IPO–Key Details
The Pind Hospitality IPO details are stated below:
| IPO Open | 28 September 2026 |
| IPO Close | 30 September 2026 |
| Face value | ₹10.00/share |
| Price Band | ₹93.00/share–₹99.00/share |
| Issue price | – |
| IPO Lot Size | 1,200 shares |
| Offer-for-sale | – |
| Fresh issue | 18,00,000 Equity Shares (₹17.82 crore) |
| Issue Type | SME/Bookbuilt IPO |
| Listing | BSE SME |
| Total Issue Size (₹ Crore) | ₹17.82 crore (18,00,000 Equity Shares) |
| Minimum Investment (Retail) | ₹2,37,600.00 (2 lots) |
Pind Hospitality IPO–Timeline
The Pind Hospitality IPO schedule is as follows:
| Bid Open Date | 28 September 2026 |
| Bid Close Date | 30 September 2026 |
| Allotment | 1 October 2026 |
| Refunds Initiated | 5 October 2026 |
| Share Credit Date | 5 October 2026 |
| Listing | 6 October 2026 |
| UPI mandate Cut-off time | 30 September 2026 (5 PM) |
Pind Hospitality Limited–Key Performance Indicators (KPIs)
The KPIs of Pind Hospitality Limited are as stated below:
| KPIs | 2026 | 2025 | 2024 |
| ROE (%) | 15.65 | 20.92 | 22.85 |
| ROCE (%) | 15.83 | 19.64 | 16.18 |
| Debt-Equity Ratio (in times) | 0.88 | 0.71 | 0.98 |
| RoNW (%) | 15.65 | 20.92 | 22.85 |
| PAT Margin (%) | 9.30 | 11.31 | 10.66 |
| EBITDA Margin (%) | 16.14 | 16.28 | 14.94 |
| Price-Book Value | 4.29 | – | – |
Pind Hospitality Limited–Financial Information
| 2026 | 2025 | 2024 | |
| Revenue | 2,445.09 | 2,264.56 | 2,077.79 |
| Assets | 3,772.13 | 2,833.11 | 2,603.85 |
| Profit/Loss After Tax | 227.30 | 256.23 | 221.41 |
Pind Hospitality IPO–Subscription Status
| Date | QIB (Ex Anchor) | NII* | NII (> ₹10L) | NII (< ₹10L) | Individual Investors | Total |
|---|---|---|---|---|---|---|
| Sep 28 (Day 1) | 1.00 | 0.00 | 0.00 | 0.00 | 0.02 | 0.02 |
Pind Hospitality IPO–Grey Premium Market (GMP)
The Pind Hospitality IPO GMP is currently unavailable. Pind Hospitality IPO grey market trading has commenced with only one session so far and no reliable GMP indication has been reported yet. Stay tuned for more updates.
| GMP Date | GMP | Est. Listing Price on upper price-₹99.00 | Est. Profit* | Trend |
|---|---|---|---|---|
| 28-Sep 16:53 Sub: 0.02x O | ₹0 (0.00%) ─ | ₹99 | ₹0 | Initial |
Disclaimer: The GMP is an unofficial metric and is indicative only. It fluctuates based on prevailing market conditions, buyer sentiment, and overall IPO subscription demand.
Pind Hospitality IPO–Reservation
The Pind Hospitality IPO reservation across investor categories:
| Investor Classification | Shares Offered | % Allocation |
| Market Maker | 91,200 | 5.07% |
| QIBs | 18,000 | 1.05% |
| NIIs | 8,44,800 | 49.44% |
| Retail Investors | 8,46,000 | 49.51% |
| Total | 18,00,000 | 100% |
Pind Hospitality IPO–Lot Size
Below are the Pind Hospitality IPO application and investment details:
| Application | Lot Size | Shares | Amount |
| Retail Minimum Application | 2 | 2400 | ₹2,37,600 |
| Retail Maximum Application | 2 | 2400 | ₹2,37,600 |
| S-HNI Minimum Application | 3 | 3600 | ₹3,56,400 |
| S-HNI Maximum Application | 8 | 9600 | ₹9,50,400 |
| B-HNI Minimum Application | 9 | 10800 | ₹10,69,200 |
Pind Hospitality IPO–Anchor Investors Details
The company, in consultation with the Book Running Lead Manager (BRLM), has decided not to offer any portion of the IPO to Anchor Investors.
Pind Hospitality IPO–Prospectus
Refer to the official offer documents for detailed information:
About Pind Hospitality Limited
Incorporation: 15 June 2021
Chairman & Managing Director: Nimish Parveen Malhotra
The company operates restaurants under the “Pind Punjab” brand, offering North Indian cuisine along with Chinese and Thai dishes. It operates five restaurants in Pune and a food counter in an IT park, with four restaurants taken on lease by the company.
The company served 4.31 lakh orders through third-party food delivery apps in FY26, generating ₹1,916.48 lakh in revenue. Its restaurants focus on affordable dining, fixed-price vegetarian and non-vegetarian meals and a menu of over 200 dishes.
As of March 31, 2026, the company had over 135 employees.
| Book Running Lead Manager (BRLM) | FEDEX SECURITIES PRIVATE LIMITED |
| Registrar | BIGSHARE SERVICES PRIVATE LIMITED |
Objectives of Pind Hospitality Limited
The Pind Hospitality IPO proceeds are planned to be utilised for the following purposes:
| Particulars | Amount (in ₹ lakhs) |
| Funding for setting up a hotel-cum-banquet hall | 1,269.81 |
| General corporate purposes | – |
Pind Hospitality Limited–Strengths
- Experienced Promoters and Management: The promoters of the company collectively bring over 25 years of restaurant management experience, supported by an experienced team and 135 full-time employees as of 31 March 2026.
- Innovative and Affordable Menu: The company focuses on Indian cuisine, regular menu innovation and customer feedback, with delivery combo options generating ₹471.08 lakh in revenue in FY26.
- Growing Online Presence: The third-party food delivery customers of the company increased from 0.96 lakh in FY22 to 4.30 lakh in FY26, while delivery revenue stood at ₹1,916.48 lakh in FY26.
- Strategic Restaurant Locations: All five restaurants are located in Pune across high-street, residential and corporate locations. The company is also expanding into nearby Lonavala using a cluster-based approach.
Pind Hospitality Limited–Risks
- Dependence on Leased Properties: All restaurants operate on third-party leased premises, exposing the company to rent increases, non-renewal and relocation risks. It previously closed its Baner restaurants following lease non-renewal.
- High Project Investment: The company plans to use ₹1,269.81 lakh of IPO proceeds for its Haveli Project in Lonavala, against a total development cost of ₹2,010.03 lakh. Customised interiors and equipment may have limited resale value if the project closes.
- Reliance on Third-Party Logistics: The company depends on 3rd-party transporters for procuring and delivering ingredients and supplies. Further, it has no in-house transportation facility and engages transport providers on a need basis without definitive agreements.
- Promoter Control: The promoters of the company hold approximately 84.72% of the paid-up equity share capital and will retain significant control after the IPO, which could influence key corporate decisions and create potential conflicts with other shareholders.
Pind Hospitality IPO–Review
The company has maintained healthy revenue growth that rose from ₹2,077.79 lakh in FY24 to ₹2,445.09 lakh in FY26. However, PAT declined to ₹227.30 lakh in FY26 from ₹256.23 lakh in FY25, resulting in a decline in PAT margin of 9.30% from 11.31%.
With the upper band of ₹99.00, the IPO implies a P/E multiple of about 18.30 times based on FY26 EPS of ₹5.41, compared with the disclosed peer-group average P/E of 191.57 times.
The company also plans to deploy ₹1,269.81 lakh of the issue proceeds towards its Haveli Project in Lonavala. The project has an estimated cost of ₹2,010.03 lakh. Its execution, along with the company’s dependence on leased properties and third-party logistics, remains important for future performance.
Other Recent IPO List
Below is a list of currently open and upcoming IPOs in India in 2026:
| Bench Mark Infotech Services IPO | Moneyview IPO |
| Himalayan Solar IPO | Adroit Industries (India) IPO |
| Green Asia Impex IPO | Pooja Logistics IPO |
| Coreintegra Consulting Services IPO | Peshwa Wheat IPO |
Pind Hospitality IPO FAQs
Pind Hospitality IPO is a ₹17.82 crore book-built SME issue comprising an entirely fresh issue of 18,00,000 Equity Shares. The price band is ₹93 to ₹99 per share, and the IPO opens on 28 September 2026.
You can apply for the Pind Hospitality IPO through the UPI facility or ASBA available through your bank account. Bids can be placed during the subscription period from 28 to 30 September 2026.
The Pind Hospitality IPO has factors such as revenue growth, an established restaurant presence in Pune and expansion through its Haveli Project in Lonavala. However, its dependence on leased properties, third-party logistics and project execution are important considerations.
The Pind Hospitality IPO GMP is currently unavailable, so an estimated listing price or potential listing gain cannot be calculated reliably. The GMP is unofficial and may change before listing.
The Pind Hospitality IPO opens for subscription on 28 September 2026 and closes on 30 September 2026.
The Pind Hospitality IPO lot size is 1,200 shares. At the upper price band of ₹99 per share, the minimum retail investment for 2 lots is ₹2,37,600.
The Pind Hospitality IPO allotment is tentatively scheduled for 1 October 2026. The refunds and credit of shares are expected on 5 October 2026.
The Pind Hospitality IPO is scheduled to list on BSE SME on 6 October 2026.
