Brigade Hotel Ventures IPO price band set at Rs 85–90. Check key details
hospitality
subsidiary of Bengaluru-based real estate major
Brigade Enterprises Ltd
(BEL), has announced the launch of its initial public offering (
IPO
), setting a price band of Rs 85 to Rs 90 per share.
The issue, totaling Rs 759.60 crore, is entirely a fresh offer with no Offer for Sale (OFS) component, ensuring that all proceeds will go directly towards funding the company's growth initiatives.
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At the upper end of the price band, the company will command a market valuation of over Rs 3,400 crore. The IPO will open for subscription on July 24 and close on July 28. Investors can bid for a minimum of 166 shares and in multiples thereafter.
The allotment of shares is expected to be finalized on July 29, with the company aiming for a July 31
listing
on both the BSE and NSE.
The funds raised through the IPO will be strategically allocated. Approximately Rs 468.14 crore will be used to repay existing debt, while Rs 107.52 crore will go towards acquiring an undivided share of land from the promoter, BEL. The remaining proceeds will be used for acquisitions, other strategic initiatives, and general corporate purposes indicating a strong intent to deleverage and expand operations.
Brigade Hotel Ventures began its journey in the hospitality sector in 2004 and opened its first hotel, Grand Mercure Bangalore, in 2009. The company now operates nine hotels across key urban centers including Bengaluru, Mysuru, Chennai, Kochi, and Gujarat's GIFT City, offering a total of 1,604 keys.
Its properties are operated under prestigious international brands like Marriott, Accor, and InterContinental Hotels Group (IHG), adding credibility and operational strength to its growing portfolio.
In terms of IPO allocation, 75% of the issue is reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and the remaining 10% for retail investors.
Earlier this month, Brigade Hotel Ventures raised Rs 126 crore in a pre-IPO round by issuing shares to 360 ONE Alternates Asset Management, highlighting early institutional interest.
With strong backing from its parent company, partnerships with global hotel chains, and a clear roadmap for growth and financial strengthening, Brigade Hotel Ventures' IPO could attract significant attention from investors looking to tap into India's recovering hospitality sector.
JM Financial
and ICICI Securities are acting as the book-running lead managers for the issue.
(
Disclaimer
: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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