Lalit Suri Hospitality Group eyes IPO after 2026 amid expansion plans

Co looking at Management Contracts and Religious Tourism

The Lalit Suri Hospitality Group is mulling a public listing of its hospitality business — Bharat Hotels Limited — after 2026, even as it looks to expand revenue streams by venturing into management contracts for luxury hotels, resorts, and mid-scale hotels.

 

“We will do an initial public offering (IPO) and take a decision on the timing after 2026. We want to leverage what we’ve created as the company is entirely owned by the group,” Jyotsna Suri, chairperson and managing director of Lalit Suri Hospitality Group, told Business Standard.

 

While the group had in 2019 initiated steps for listing, turbulent market conditions and Covid forced it to scuttle the foray. Bharat Hotels had filed a draft red herring prospectus (DRHP) in 2019 for raising ₹1,200 crore, but later withdrew it. The company is fully owned by the promoters and promoter group. In FY23, the company had raised ₹1,100 crore through non-convertible debentures through private placement, according to its 2024 annual report. According to market watchers, the group could well raise more than ₹1,500 crore going by the asset class. Suri did not specify the amount the company may look at raising.

 

The group’s plans come at a time when hospitality chains are increasingly looking to tap the capital markets.

 

Brookfield-backed Leela Hotels Palaces raised ₹3,500 crore from its IPO, following listing on the BSE on Monday. Bengaluru-based Prestige group’s hospitality arm Prestige Hospitality Ventures filed its DRHP last week to raise ₹2,700 crore. Its peer, the Brigade group, also plans to list its hotels venture.