The Lalit likely to file for IPO in FY26, eyes Rs 1,800 crore
The Lalit will file fresh documents for its initial public offering (IPO) in the next fiscal year starting April 2025, a top company official told ET.
The IPO size may be between ₹1,500 crore and ₹1,800 crore, though the final decision is still some time away and will depend on several factors, including the market situation, said another person aware of the New Delhi-based hotel chain's plans.
The company had filed a ₹1,200-crore draft red herring prospectus (DRHP) in 2018. But it had decided not to list back then because the «time wasn't right,» the official said, requesting anonymity.
The firm is currently in the midst of «consolidating» its business and is expecting a 30% year-on-year revenue growth in FY25. Post the consolidation, it will go for an IPO, the person said. The Lalit brand is a part of The Lalit Suri Hospitality Group.
In response to ET's query, a company spokesperson confirmed it is looking at an IPO, but «it is not possible to state right now» when it will be done. «It's a very fluid situation and once we decide to file an IPO that will be an apt time to talk about the size,» the person said.
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