Pind Hospitality IPO
LISTEDSMEListing Performance
▼ 20.00%
Issue Price
₹99
Listing Price
₹79
Listed On
06 Oct 2026
- Price Band
- ₹93 – ₹99
- Lot Size
- 1,200
- Lot Value
- ₹1,18,800
- Open Date
- 28 Sep28 Sep 2026
- Close Date
- 30 Sep30 Sep 2026
- Min Investment
- ₹1,18,800
About Pind Hospitality
Restaurant operations and food delivery through owned restaurants and third-party food delivery apps
Use of IPO Proceeds
Total allocation: ₹12.70 Cr (excludes issue expenses)
Promoters
Nimish Parveen Malhotra
Promoter · age 35
Pre-issue: 9.61% · Post-issue: 6.72%
Chirag Parveen Malhotra
Promoter · age 31
Pre-issue: 9.61% · Post-issue: 6.72%
Anita Malhotra
Promoter · age 60
Pre-issue: 9.61% · Post-issue: 6.72%
Investment Analysis
Quick Analysis: 3 strengths · 6 risk factors· Exchange: BSE SME
Strengths (3)
- •Diversified revenue through direct delivery and third-party food delivery platforms
- •Multi-concept restaurant strategy including owned and operated locations
- •Menu innovation tailored to regional tastes and customer preferences
Risk Factors (6)
- •Heavy reliance on third-party food delivery apps for 78-86% of revenue creates dependency risk and potential commission increases.
- •First public issue with no established market price; equity shares may trade significantly below or above issue price post-listing.
- •Most board directors lack experience at listed companies, potentially compromising corporate governance standards and investor confidence.
- •Promoters' average acquisition cost significantly below issue price may create perception of unfair valuation to public shareholders.
- •Past delays in loan repayment indicate liquidity constraints and operational challenges affecting creditworthiness and future financing access.
- •Growing competition from capital-efficient delivery-only models and cloud kitchens may erode traditional restaurant business model viability.
Demand snapshot
Subscription and grey market data as reported. Not a recommendation.
- Subscribed 2.62x (QIB 1.00x, NII 1.14x, Retail 4.30x) at close
Application Lot Sizes
Retail caps at ₹2,00,000 (1 lots here). S-HNI is ₹2L–₹10L, B-HNI is above ₹10L.
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,200 | ₹1,18,800 |
| Retail (max) | 1 | 1,200 | ₹1,18,800 |
| S-HNI (min) | 2 | 2,400 | ₹2,37,600 |
| S-HNI (max) | 8 | 9,600 | ₹9,50,400 |
| B-HNI (min) | 9 | 10,800 | ₹10,69,200 |
Subscription Status
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 1.00x | 1.00x | 1.00x |
| sNII (S-HNI) | — | — | — |
| bNII (B-HNI) | — | — | — |
| Retail | 0.02x | 0.03x | 4.30x |
| Total | 0.02x | 0.31x | 2.62x |
Colour: red <1x · amber 1–10x · green ≥10x oversubscribed.
Allotment Statistics
Retail Individual Investors (RII)
Subscription
4.30x
Allotment Ratio
1 lot per 5 applicants
Allotment Probability
~23.3%
Non-Institutional Investors (NII / HNI)
Subscription
1.14x
Allotment Type
Proportionate allotment
Qualified Institutional Buyers (QIB)
Subscription
1.00x
Allotment Type
Discretionary allotment
Total Subscription
2.62x
Allotment probability is estimated based on subscription data and is not guaranteed. Actual allotment depends on the registrar's process.
Basis of Allotment
Category-wise subscription & allotment ratio
Weigh your chances
IPO Timeline
Issue Opens
28 Sep 2026 · Mon
Issue Closes
30 Sep 2026 · Wed
Bidding Cut-off (UPI Mandate)
30 Sep 2026 · 5:00 PM IST
Allotment
01 Oct 2026 · Thu
Listing
06 Oct 2026 · Tue
Issue Opens
28 Sep 2026 · Mon
Issue Closes
30 Sep 2026 · Wed
Bidding Cut-off (UPI Mandate)
30 Sep 2026 · 5:00 PM IST
Allotment
01 Oct 2026 · Thu
Listing
06 Oct 2026 · Tue
IPO Details
| Registrar | Bigshare Services Private Limited |
| Exchange | BSE SME |
| ISIN | — |
| Face Value | ₹10 |
| Issue Size | ₹17.82 Cr |
| Fresh Issue | — |
| OFS Size | — |
| Lead Managers | FEDEX SECURITIES PRIVATE LIMITED |
3-Year Financial Summary
Revenue trend
↑ FY24→FY26
| Fiscal Year | Revenue (₹Cr) | PAT (₹Cr) | EPS | P/E | ROE |
|---|---|---|---|---|---|
| FY26 | 24.45 | 2.27 | — | — | 15.65% |
| FY25 | 22.65 | 2.56 | — | — | 20.92% |
| FY24 | 20.78 | 2.21 | — | — | 22.85% |
Detailed Line Items (₹ Cr)
| Line Item | FY24 | FY25 | FY26 |
|---|---|---|---|
| Total Income | 20.87 | 23.17 | 24.91 |
| EBITDA | 3.1 | 3.69 | 3.95 |
| Net Worth | 9.69 | 12.25 | 14.52 |
| Cash Flow — Operating | 4.27 | 1.9 | 3.05 |
| Cash Flow — Investing | -15.76 | -2.17 | -6.47 |
| Cash Flow — Financing | 12.4 | -1.39 | 3.26 |
From the company's offer document (DRHP/RHP); restated figures where available.
Valuation at Issue Price
Issue P/E
—
Price ÷ EPS
EPS (FY26)
—
Earnings per share
RoNW
15.65%
Return on net worth
ROCE
—
Not in abridged DRHP
EBITDA margin
16.2%
EBITDA ÷ revenue
Price/NAV
—
NAV not in abridged DRHP
Check the valuation yourself
Company Fundamentals
8 sections extracted from this filingCapital Structure
Capital structure not disclosed in this filing.The capital-structure table was not found in Pind Hospitality's offer document (common in abridged prospectuses).
Shareholding Pattern
Pre-Issue
Pre-Issue not disclosed in this filing.Not separately disclosed in Pind Hospitality's filing.
Post-Issue
Post-Issue not disclosed in this filing.Not separately disclosed in Pind Hospitality's filing.
Source: Pind Hospitality offer document (DRHP/RHP).
Reservations & OFS
Investor Reservation
Reservation split not disclosed in this filing.Not disclosed in Pind Hospitality's filing.
OFS Selling Shareholders
No offer-for-sale component (or sellers not disclosed).
Source: Pind Hospitality offer document (DRHP/RHP).
Board & Management
Board of Directors (6)
- Nimish Parveen Malhotra₹0.18 Cr p.a.
Chairman and Managing Director
Bachelor's degree in Technology for Computer Science from Bharti Vidyapeeth Deemed University College of Engineering, Pune
Over 9 years of experience in developing and executing business and marketing strategies in the F&B industry
- Chirag Parveen Malhotra₹0.18 Cr p.a.
Whole-time Director
Diploma degree in Hospitality Management Hotel and Restaurant from Niagara College Canada
Over a decade of experience in F&B industry. Worked with Quality Inn Hotel, Starbucks, and Hollis Hotel by Hilton
- Anita Malhotra₹0.18 Cr p.a.
Executive Director
Bachelor's degree of Arts from Guru Nanak Dev University and Bachelor of Education from MGN College of Education, Jalandar
Over 9 years of experience in F&B industry
- Arvind Kumar Kushwaha
Non-Executive Independent Director
Bachelor's degree of Commerce from Punjab University and Bachelor's degree of Law from Maharaja Ganga Singh University. Qualified Company Secretary, associate member of ICSI
Around 8 years of experience in the field of secretarial, corporate and compliance affairs
- Shitij Mukesh Sharma
Non-Executive Independent Director
Bachelor degree of Commerce from Punjab University and Master degree of Commerce from Himachal University. Qualified Company Secretary, associate member of ICSI
Over 4 years of experience in the field of secretarial, corporate and compliance affairs
- Ashish Krishan Sharma
Non-Executive Independent Director
Bachelor degree of Commerce from Punjab University. Qualified Chartered Accountant, fellow member of ICAI
Over 7 years of experience in the field of audit and taxation
Key Managerial Personnel (2)
- Harleen Kaur₹0.01 Cr p.a.
Company Secretary & Compliance Officer
Bachelor's degree of commerce from Dev Samraj College for Women (Punjab University). Associate member of ICSI
Over 4 years of experience in field of secretarial, corporate, and compliance affairs
- Navnath Shankar Shinde₹0.01 Cr p.a.
Chief Financial Officer
Master's of commerce degree from the University of Pune
Over ten years of experience in accounting and finance. Previously with Mehta Oswal & Associates as Senior Manager (Taxation)
Source: Pind Hospitality offer document (DRHP/RHP).
Industry & Market
Industry & market data not disclosed in this filing.Market-size/industry detail was not extracted from Pind Hospitality's filing.
Peer Comparison
| Company | P/E | EPS | RoNW % | NAV |
|---|---|---|---|---|
| Pind Hospitality Limited | — | 5.41 | 15.65 | 34.59 |
| United Foodbrands Ltd (formerly known as Barbeque-Nation Hospitality Ltd) | -45.99 | -15.13 | -19.27 | 82.8 |
| Speciality Restaurants Ltd | 31.7 | 4.52 | 5.78 | 74.33 |
| Vikram Kamats Hospitality Ltd (formerly known as Vidli Restaurants Ltd) | 351.44 | 0.09 | 0.24 | 34.19 |
Registrar (RTA)
SEBI-registered Registrar & Transfer Agent — handles allotment and refunds.
Registrar:Bigshare Services Private Limited→Lead Managers (BRLMs)
Click any merchant banker for their full IPO track record (positive listing rate, average gain, IPOs managed).
Documents
Frequently Asked Questions
When is the Pind Hospitality IPO opening?
The Pind Hospitality IPO opens on 28 Sep 2026 and closes on 30 Sep 2026. Check this page for the latest updates as we refresh every 30 minutes.
What is the price band of the Pind Hospitality IPO?
The price band for the Pind Hospitality IPO is ₹93 to ₹99. The final price is announced after the book-building process and is confirmed before listing.
What is the lot size and minimum investment for the Pind Hospitality IPO?
The minimum lot size is 1200 shares with a minimum investment of ₹1,18,800. Retail investors can apply for up to the retail limit defined by SEBI.
What is the GMP of Pind Hospitality IPO today?
The latest Grey Market Premium for Pind Hospitality is ₹1 (+1.01%). GMP is unofficial data and is not a guarantee of listing price.
When will the Pind Hospitality IPO list on NSE and BSE?
The Pind Hospitality IPO is expected to list on 06 Oct 2026 on BSE SME. Actual listing day trading begins at the start of the normal market session.
How can I check the Pind Hospitality IPO allotment status?
The registrar for this IPO is Bigshare Services Private Limited. You can check your allotment status on the registrar's portal using your PAN, application number, or DP ID. We link to the registrar directly on our allotment page after the allotment date.
Is the Pind Hospitality IPO a mainboard or SME issue?
Pind Hospitality is a SME IPO that will list on the NSE Emerge or BSE SME platform. SME IPOs require a minimum application value of one lakh rupees.
How do I apply for the Pind Hospitality IPO?
You can apply for the Pind Hospitality IPO through any SEBI-registered broker such as Zerodha, Upstox, or Angel One using UPI or ASBA while the issue is open for bidding.
What is the GMP-implied price of Pind Hospitality IPO?
The GMP-implied price (unofficial, not a forecast) is ₹100: the upper price band of ₹99 plus the latest grey market premium of ₹1, as of 06 Oct 2026, 06:00 PM IST. GMP is unofficial grey market data, and the actual listing price can differ from it.
What is the allotment ratio for Pind Hospitality IPO?
Based on the retail subscription of 4.30x, the estimated allotment ratio is 1 lot per 5 applicants (approximately 23.3% chance of allotment). This is an estimate and actual allotment may vary.
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