Brigade Hotel Ventures sets IPO price band at Rs 85-90/share
ADVERTISEMENT At the upper end of the price band, the company is valued at over Rs 3,400 crore.
The IPO is scheduled to open on July 24 and close on July 28. The one-day bidding for the anchor investor will open on July 23, the company announced.
Brigade Hotel Ventures' IPO is entirely a fresh issue of equity shares with no Offer For Sale (OFS) component. Proceeds from the issue to the tune of Rs 468.14 crore will be used for payment of debt; Rs 107.52 crore be utilised for purchase of an undivided share of land from the promoter, BEL; and the remaining funds will support acquisitions, other strategic initiatives, and general corporate purposes. Earlier this month, Brigade Hotel Ventures raised Rs 126 crore by selling equity shares to 360 ONE Alternates Asset Management.
ADVERTISEMENT
Brigade Hotel Ventures Ltd is a subsidiary of Bengaluru-based real estate company Brigade Enterprises Ltd (BEL).
BEL entered into the hospitality business in 2004 with the development of its first hotel Grand Mercure Bangalore, which commenced operations in 2009.
ADVERTISEMENT The company has a portfolio of nine operating hotels across Bengaluru (Karnataka), Chennai (Tamil Nadu), Kochi (Kerala), Mysuru (Karnataka) and the GIFT City (Gujarat) with 1,604 keys. The hotels are operated by global marquee hospitality companies such as Marriott, Accor and InterContinental Hotels Group.
ADVERTISEMENT
The company announced that 75 per cent of the offer size has been set aside for qualified institutional buyers, 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.
JM Financial and ICICI Securities are the book-running lead managers to the issue. Shares of the company are expected to list on the bourses on July 31.
(You can now subscribe to our ETMarkets WhatsApp channel)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
7 minutes ago
- India.com
India's Pharma Exports Have Shot Up By 92% In Last 6 Years: Minister
New Delhi: Various schemes being implemented by the Centre to realise the vision of Aatmanirbhar Bharat in the pharmaceutical sector have resulted in India's exports of drugs and pharmaceuticals increasing by 92 per cent, from Rs 1,28,028 crore in FY2018-19 to Rs 2,45,962 crore in FY2024-25, the Parliament was informed on Friday. The schemes include the Promotion of Research and Innovation in Pharma MedTech Sector (PRIP) scheme, the Production Linked Incentive (PLI) Scheme for Pharmaceuticals, the PLI Scheme for Bulk Drugs, Scheme for Promotion of Bulk Drug Parks, and Strengthening of Pharmaceutical Industry scheme, Minister of State for Chemicals and Fertilisers Anupriya Patel told the Lok Sabha in a written reply to a question. The PRIP scheme has been launched with an outlay of Rs 5,000 crore to transform India's Pharma MedTech sector from cost- to innovation-based growth by strengthening research and promoting industry-academia linkage for research and development in priority areas in drug discovery and development and medical devices. Under this scheme, seven Centres of Excellence (CoEs) have been set up, she said. The PLI Scheme for Pharmaceuticals aims to enhance India's manufacturing capabilities by increasing investment and production in the sector and contributing to product diversification to high-value goods in the pharmaceutical sector. The minister said that the scheme has enabled enhanced investment and production in eligible products. As of March 2025, the committed investment of Rs 17,275 crore targeted over the six-year period of the scheme stands substantially exceeded with a cumulative investment of Rs 37,306 crore made by the scheme's third year, and cumulative sales of approved products of Rs 2,66,528 crore have been made, including exports of Rs 1,70,807 crore. The PLI Scheme for Bulk Drugs, which has a total budgetary outlay of Rs 6,940 crore, aims to avoid disruption in the supply of critical active pharmaceutical ingredients (APIs) used to make critical drugs for which there are no alternatives by reducing supply disruption risk due to excessive dependence on a single source. As of March 2025, the committed investment of Rs 3,938.5 crore under projects approved under the scheme for investment over the six-year production period of the scheme stands substantially exceeded with a cumulative investment of Rs 4,570 crore made by the scheme's third year, she further stated. The minister also highlighted that the government launched the Pradhan Mantri Bhartiya Janaushadhi Pariyojana scheme to make quality generic medicines available at affordable prices to all. Under the scheme, dedicated outlets known as Jan Aushadhi Kendras (JAKs) are opened across the country to provide medicines at prices that are about 50 per cent to 80 per cent lower than those of leading branded medicines in the market. Till June 6, 2025, a total of 16,912 JAKs have been opened, and on average, about 10 to 12 lakh persons visit these Kendras daily and avail of quality medicines at affordable prices. As many as 2,110 medicines and 315 surgicals, medical consumables and devices are under the scheme product basket, covering all major therapeutic groups, such as cardiovascular, anti-cancer, anti-diabetic, anti-infectives, anti-allergic and gastro-intestinal medicines and nutraceuticals. As a result of the scheme, in the last 11 years, estimated savings of about Rs 38,000 crore have accrued to citizens in comparison to the prices of branded medicines. Further, the scheme has provided self-employment to over 16,000 persons, including over 6,800 women entrepreneurs, the minister added.
Hans India
7 minutes ago
- Hans India
DefMin signs Rs 2K-cr deal with BEL
New Delhi: The Ministry of Defence on Friday signed a contract with public-sector defence company Bharat Electronics Ltd (BEL) for the procurement of Air Defence Fire Control Radars for the Indian Army, worth approximately Rs2,000 crore, under the Buy (Indian-Indigenously Designed Developed and Manufactured) category. With a minimum 70 per cent indigenous content, these Fire Control Radars will be able to detect all forms of airborne threats, including fighter aircraft, attack helicopters and enemy drones. This would mark a significant milestone in the modernisation of the Air Defence Regiments and enhance the Indian Army's operational readiness, while contributing to the economic growth of the nation, according to a Defence Ministry statement. The contract was signed and exchanged by senior officials of the Ministry of Defence and BEL in the presence of Defence Secretary Rajesh Kumar Singh. The procurement marks a pivotal step towards empowering indigenous defence industries by encouraging Indian MSMEs through components manufacturing and raw material supply, the statement said. The government is keen to promote the country's defence industry, and earlier this month Defence Acquisition Council, under the chairmanship of Defence Minister Rajnath Singh, gave the go-ahead for 10 proposals to purchase military hardware, including missiles and electronic warfare systems, worth approximately Rs 1.05 lakh crore through indigenous sourcing. India's indigenous defence production has surged to an all-time high of Rs1.46 lakh crore, with exports increasing to a record Rs24,000 crore in 2024-25, according to Defence Minister Rajnath Singh.'Our defence production, which was only Rs43,000 crore 10 to 11 years ago, has now crossed a record figure of Rs1,46,000 crore, with the private sector's contribution of over Rs32,000 crore. Our defence exports, which were around Rs600-700 crore 10 years ago, have surpassed a record figure of Rs24,000 crore today,' the minister stated in his address at the Confederation of Indian Industry (CII) annual summit recently. He described Make-in-India as crucial for security and prosperity, stating that the use of indigenous systems during Operation Sindoor has proved that India has the power to penetrate any armour of the enemy.
News18
14 minutes ago
- News18
Hyundai India Gets Rs 517.34 Cr Tax With Penalty Demand From GST Authority, Here's Why
Last Updated: The company said there is no impact on its financial, operational or other activities due to the order and is reviewing the order and will exercise the right to file an appeal. Hyundai Motor India Ltd on Tuesday said it has received a demand of Rs 517.34 crore from tax authorities, along with penalty, for alleged short payment of GST compensation cess on its certain SUV models. The company has received an order from Commissioner (Appeals), CGST Dept, Tamil Nadu, confirming GST compensation cess demand of Rs 258.67 crore, along with penalty of Rs 258.67 crore, on the allegation of short payment of GST compensation cess on certain SUV models for the period September 2017 – March 2020, Hyundai Motor India Ltd said in a regulatory filing. Reacting to the demand, a company spokesperson said, 'HMIL is of the view that the amendment and the clarifications given by the Central Board of Indirect Tax and Customs (CBIC) to resolve the issue faced by the industry on this matter are in favour of the company. We are in the process of reviewing the order and will exercise the right to seek a legal remedy through an appropriate forum." The company asserted that there is no impact on its financial, operational or other activities due to the order and is reviewing the order and will exercise the right to file an appeal. . view comments First Published: July 26, 2025, 08:17 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
