New Delhi: Pride Hotels plans to deploy a significant portion of its fresh issue proceeds towards upgrading its existing assets. Of the total funds raised, Rs 159.68 crore will be used to modernise and renovate owned hotels, while Rs 40 crore is earmarked for debt repayment. The remaining amount will be utilised for general corporate purposes. As of March 2025, the company’s total borrowings stood at Rs 65 crore, according to draft papers.

Explaining the utilisation strategy, Chief Executive Officer Satyen Jain said the company will roll out renovations over a 12–27 month period, covering six of its seven owned hotels. These properties are located in key metros including New Delhi, Ahmedabad, Kolkata, Bengaluru, Pune and Chennai. Read Also Dialysis Services Provider Nephrocare Health'

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