Pind Hospitality IPO
Pind Hospitality IPO is an SME IPO raising ₹18 Cr at ₹93 – ₹99 a share. It listed on 6 Oct 2026 at ₹79, −20.0% against its issue price of ₹99, and trades at ₹37 today (−62.5% since issue). It was subscribed 2.63× in total.
2.6 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
Where your money goes
Only the fresh issue reaches the company. The offer for sale is existing shareholders selling their own stock — that money goes to them, not the business.
A red herring prospectus is filed before the price is fixed, so it states share counts rather than rupee amounts. derived: shares x cut-off price Rs99 + OFS by subtraction from exchange total Rs18 Cr. Checked: exchange issue size Rs18 Cr vs derived Rs18 Cr (0.0% apart).
What the fresh money funds
The stated uses of the net proceeds, from the prospectus’s Objects of the Issue table. Only the fresh issue funds these — the offer-for-sale money goes to the selling shareholders above.
As stated in the prospectus. “General corporate purposes” is the part with no committed use; SEBI caps it at 25% of the issue.
The price they’re asking
From the prospectus’s own “Basis for Issue Price” — the issuer’s earnings multiple against the peers it chose to compare itself with.
Priced 90% below the median multiple of the peers the issuer itself names.
| Listed peer (issuer’s choice) | P/E | RoNW | EPS |
|---|---|---|---|
| United Foodbrands Ltd (formerly Barbeque-Nation Hospitality Ltd) | -45.99× | -19.27% | ₹-15.13 |
| Speciality Restaurants Ltd | 31.7× | 5.78% | ₹4.52 |
| Vikram Kamats Hospitality Ltd (formerly Vidli Restaurants Ltd) | 351.44× | 0.24% | ₹0.09 |
| This issue | 18.3× | 15.65% | ₹5.41 |
derived: cut-off price Rs99 / stated EPS Rs5.41 (FY26 (year ended March 31, 2026), basic & diluted EPS are equal per restated financial statements (post bonus); face value ₹10). Peer figures are as printed in the prospectus — they date from its filing, not today. A multiple is one lens, not a verdict.
Terms of the issue
The mechanics of what is being sold. Held for every issue we track.
Not here yet
The anchor-investor allocation — which institutions were allotted shares before bidding opened — is still to be read out of its document.