No, they don't. And it is a shame, beautiful plants. Neither of the Ensete Ventricosum (green or red) will produce pups in the traditional sense. It can be done but not without some considerable work. If you search you will find but it involves cutting down the plant and scoring the stump. At which point the plant produces masses of growths that have to transplanted off and look like tissue cultures growths. Lots of work. Or wait for it to flower, make bananas and grow from seed.

Afraid that's a ditto here on them not producing pups. On the other hand, they are easier to grow from seed than other varieties (seeds also have the advantage of being size and big to work with).

Yep, definitely no pups from this one. But the only thing to watch out for with the seeds is they might revert to the original green form of the plant. I guess after it flowers you can try to grow it from seed and also cut the plants corm since you wont have anything to lose because eventually it would die anyway.
Good luck!
-Alex