The IPO season in 2024 threw open some interesting names with intriguing backgrounds. There was Resourceful Automobile, a company with a showroom that went public that made it to the headlines.
As many unique companies issued their Initial Public Offering (IPO) coloured 2024, 2025 appears no different.
Tito’s On The SME
One of Goa’s premier nightclubs, Tito’s is expected to go public in 2025. The company, according to a report from NDTV Profit, is aiming for a valuation of a mammoth Rs 1,000 crore.
This IPO will be going up in the SME or Small and Medium Enterprises band.
The company website
Tito’s is well-known for the legendary Tito’s nightclub and Cafe Mambo at Goa’s Baga beach.
The company with its IPO intends to dilute at least 30 per cent of its equity, as per reports.
There are currently no plans for an offer for sale and the IPO is anticipated to involve a new share issuance.
As per reports, ICICI securities will be one of the bankers involved in this offer.
This IPO comes at a time, when Goa, reportedly has witnessed a decline in footfall of tourists due high prices and affordability concerns.
Who Are Tito’s?
The Tito’s Group first started in 1971, and it is known for its nightlife experiences. The company was named after Tito Henry De Souza. This hospitality sector entity is run by Tito’s two sons Ricardo D’Souza and David D’Souza, who are directors in the company.
The D’souza brothers
An official Red Herring Prospectus is yet to be made available in the IPO.
The D’Souza brothers sold a 65 per cent share in Tito’s Resorts to outside investors in 2021. Nonetheless, they continue to have complete authority over Tito’s Spirits, the company that sells alcoholic beverages in Goa.
The company, according to its website, has 4 major entities, namely, Club Tito’s, Café Mambo, Tito’s World Café and Tito’s Arena.
The company is located on Tito’s Lane, Saunta Vaddo, Baga Calangute, Bardez, Goa.
