Pride to offer IPO

Pride Group of Hotels, Mumbai, India, revealed to the Indian press this week that it plans to file for an initial public offer by December after a New Delhi property under development in completed.

The size of the IPO has not been determined, but “will not be less than Rs 250 crore (US$50 million),” Sureshchand Premchand Jain, chairman of Pride Group of Hotels, told Hindustan Times.