Last updated on February 24th, 2025 at 05:48 am
Tito’s Resorts and Hospitality, known for its popular nightlife destinations in Goa, has decided to sell at least 10% of the stake at a valuation of $115.6 million, or about ₹960 crore. The firm has also decided to make an SME IPO to generate capital, confirmed co-owner Ricardo D’Souza.
Company History
Founded: 1971
Key business: Hospitality, nightlife, and entertainment
Popular Nightclubs: Club Tito’s and Café Mambo
Notable Events Hosted: Femina Miss India auditions, MTV Roadies events, Sunburn After Party
International Presence: Having operations in Thailand and the UAE
Stake Sale and Investment Talks
Tito’s is in talks with investors to sell a minority stake.
Though no investor names are known, the company is targeting strategic investments ahead of an IPO.
The value of the company—the brand, land, as well as the business—stands at ₹1,000 crore or $120 million.
SME IPO Plans
Tito’s is planning to bring an IPO specifically targeting the SME platform.
The company will further seek to dilute at least 30 per cent of its equity in the IPO.
The IPO would largely be a fresh equity issuance rather than an offer-for-sale.
Lead Manager: To complete the IPO process, ICICI Securities has been made one of the book-running lead managers.
Although they are preparing for the IPO, Ricardo D’Souza clarified that there is no keen interest in listing immediately.
Expansion Plans: Real Estate, Software, and Casinos
Tito’s is looking at diversifying its business from the nightlife and hospitality sectors, beginning by investing in the following areas:
Real Estate: To invest in property development
Software Services: Entering the tech industry
Casino Business:
Thailand’s recent approval of a draft law to legalize casinos has attracted Tito’s interest.
The company is exploring opportunities to establish casino operations in Thailand.
Future expansion into Goa’s casino industry is also under consideration.
While Tito’s remains a major nightlife attraction in Goa, it is actively seeking investors for its stake sale.
The IPO remains a long-term strategy, contingent on securing the right investment deal.
Expansion into real estate, software, and gaming would further strengthen the business portfolio of the company.