Hotels join the fray as IPO frenzy continues

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Subscribe to enjoy similar stories. While new-age ventures received all the spotlight in the markets, hospitality companies have quietly drawn serious interest from investors after the post-pandemic boom in travel and tourism. Samhi Hotels Ltd, Apeejay Surendra Park Hotels Ltd and Juniper Hotels Ltd have gone public, and some big-ticket block deals have happened.

There’s more to come. A clutch of hotels companies has lined up initial public offerings (IPOs). Brigade Hotel Ventures, the hospitality arm of Brigade Enterprises, has filed papers with the Securities and Exchange Board of India (Sebi) and is gearing up to raise ₹900 crore, according to Prime Database.

Schloss Bangalore, the Brookfield-backed parent of Leela Hotels, has filed papers for a ₹5,000 crore issue. “Bharat Hotels, which is currently delisted, plans to go public soon," said Krishna Patwari, founder and managing director of Wealth Wisdom India. “OYO is also expected to launch its IPO to reduce debt and expand operations across India, Indonesia and Europe, with a new equity offering of ₹7,000 crore." Also read | Indian Hotels has grown at a scorching pace under Puneet Chhatwal. Can he sustain the bull run? Blackstone-Panchshil’s Ventive Hospitality recently filed papers for a ₹2,000 crore IPO, said Prateek Jhawar, managing director and head, infrastructure and real assets investment banking, Avendus Capital.

Real estate major Prestige Estates has also appointed bankers for the proposed IPO of its hospitality arm, and then there is the potential listing of ITC Hotels after the demerger from the parent, he said. “We expect the capital market activity in this space to remain high even in the coming 12-24 months. We can expect 4-5 mainboard IPOs to hit the