Pind Hospitality (SME IPO)
📅 Dates: 28 - 30 Sep • 💰 Issue Size: 18,00,000 shares (agg. up to ₹18 Cr)Complete guide to Pind Hospitality SME IPO: latest Grey Market Premium (GMP), live bidding subscription status, price band, lot size, financial report, and investment analysis.
📊 Overview & Key Highlights
| Parameter | Details |
|---|---|
| Issue Type | SME IPO (SME) |
| Issue Dates | 28 - 30 Sep |
| Price Band | ₹93 to ₹99 |
| Total Issue Size | 18,00,000 shares (agg. up to ₹18 Cr) |
| Minimum Market Lot | 1200 shares |
| Listing Price (Debut) | ₹71.48 (-₹3.76 (-5.00%)) |
| Subscription Status | 2.71x (Final / Bidding Closed) |
| Investor Demand Rating | ⭐⭐⭐☆☆ (3/5 - Moderate Demand) |
📈 Live Subscription Demand
| Category | Subscription Multiplier (x) |
|---|---|
| Qualified Institutional (QIB) | 1.00x |
| Non-Institutional / HNI | 1.15x |
| Retail Individual (RII) | 4.31x |
| Total Subscription | 2.71x (Updated: 07 Oct, 17:48) |
🎯 Investment Analysis & Verdict
📌 Business Model & Revenue Streams
Pind Hospitality runs six dine-in restaurants across Maharashtra (plus its Pind Punjab partnership firm), earning money from walk-in diners, third-party delivery apps like Swiggy/Zomato, its own app, and phone/pick-up orders within a 6 km radius. It also earns from outdoor catering and workplace canteens, so the paying customer is basically anyone in Pune who eats out, orders in, or books them for an event.🚀 Key Strengths & Growth Drivers
• Operating since 2016 without a break, and 5 lakh+ cumulative deliveries with 2.18 lakh orders in just H1 FY25 tells you the brand has real repeat demand in Pune, not just a one-off launch buzz.• Delivery app order volumes jumped from 4.23 lakh (FY24) to 4.43 lakh (FY23) and are already at 2.18 lakh in six months, showing the platform partnerships are scaling, not stagnating.
• Catering revenue is small but growing steadily (₹51.16L → ₹80.69L across periods), giving them a second income stream that doesn't depend on table turnover.
⚠️ Key Risks & Red Flags
• Restaurant margins are brutally thin and perishable raw material costs swing hard; a bad monsoon or food inflation can wipe out quarterly profits fast.• This is an SME IPO with just ₹18 Cr raised across 18 lakh shares — expect low liquidity, wide bid-ask spreads, and limited analyst coverage after listing.
• Heavy reliance on third-party delivery apps means commission structures and platform policies are outside their control; any rate hike directly hits the bottom line.
🎯 Retail Verdict
This is a small, regionally concentrated restaurant play with a decent local track record but no national scale or pricing power. The SME tag means listing pops can be sharp but equally sharp on the way down, so it's strictly for investors who understand micro-cap volatility and can stomach illiquidity. If you're looking for a long-term compounder, this isn't it — treat it as a tactical trade at best, and size your position accordingly.📅 Tentative Timetable
| Event | Tentative Date |
|---|---|
| IPO Open | Mon, Sep 28, 2026 |
| IPO Close | Wed, Sep 30, 2026 |
| Allotment | Thu, Oct 1, 2026 |
| Refund | Mon, Oct 5, 2026 |
| Credit of Shares | Mon, Oct 5, 2026 |
| Listing | Tue, Oct 6, 2026 |
💼 Market Lot & Investment Sizing
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (IND) (Min) | 2 | 2400 | ₹2,37,600 |
| Individual investors (IND) (Max) | 2 | 2400 | ₹2,37,600 |
| S-HNI (Min) | 3 | 3600 | ₹3,56,400 |
| S-HNI (Max) | 8 | 9600 | ₹9,50,400 |
| B-HNI (Min) | 9 | 10800 | ₹10,69,200 |
💰 Financial Summary
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 27.07 | 26.04 | 6.73 | 0.94 |
| Total Income | 12.00 | 20.87 | 19.09 | 5.13 |
| Profit After Tax | 0.90 | 2.21 | 1.22 | 0.05 |
| NET Worth | 10.58 | 9.69 | 3.87 | 0.25 |
| Reserves and Surplus | 6.39 | 5.49 | 0.27 | 0.05 |
| Amount in ₹ Crore |
🏢 About Pind Hospitality
Pind Hospitality is a Pune-based restaurant operator that runs six dining establishments in Maharashtra alongside its partnership firm, Pind Punjab, and has maintained an unbroken operating record since 2016. The business serves customers through third-party food delivery platforms, its own mobile app, online reservations, telephone orders, and a mobile pre-ordering service for pick-up within a 6 km radius. It has completed more than 5 lakh cumulative deliveries and is regarded as a long-standing restaurant partner on delivery apps in Pune. Order volumes through delivery apps stood at 2.18 lakh, 4.23 lakh, 4.43 lakh, and 0.96 lakh in the six months ended September 2024 and the full years 2024, 2023, and 2022, respectively. Beyond dine-in and delivery, the company provides outdoor catering for special events and workplace canteens, generating catering revenue of ₹80.69 lakhs, ₹64.38 lakhs, ₹59.84 lakhs, and ₹51.16 lakhs across recent periods. Raw materials, including perishable items such as dairy, vegetables, and meat, are procured from local and organised vendors, with restaurants undergoing routine FSSAI compliance audits. As of September 30, 2024, the company employed 138 staff across central functions including finance, human resources, and administration. Its customer base centres on middle and upper-middle-class consumers, reached through advertising that emphasises fresh, affordable food across internet, print, direct marketing, and social media channels.💬 Community Discussion & Views
Are you planning to apply for the Pind Hospitality IPO? Share your bidding strategy, allotment status, or listing expectations with fellow investors in the replies below!👉 Browse all upcoming Mainboard & SME IPOs on UNP
Disclaimer: All IPO details provided above are for educational and informational purposes only. Readers are advised to consult their financial advisors and review the Red Herring Prospectus (RHP) before investing.
📌 Thread Quick Navigation: Post #2: Live & Historic GMP | Post #3: Subscription Stats | Post #4: Allotment Status | Post #5: Listing Debut | Post #6: Community & Social Reviews
Last edited: