Latest news with #BrigadeHotel
&w=3840&q=100)
Business Standard
2 days ago
- Business
- Business Standard
Last day! Brigade Hotel IPO closes today; check subscription status, GMP
Brigade Hotel Ventures Day 3 subscription status: The three-day subscription window to bid for the initial public offering (IPO) of Brigade Hotel Ventures is set to close today, July 28, 2025. The ₹759.6 crore issue, which opened for subscription on Thursday, July 24, has received a muted response from investors so far. According to data from the National Stock Exchange (NSE), the Brigade Hotel Ventures received bids for 72.7 million equity shares against 51.19 million shares on offer as of 11:50 AM on Monday. This reflects an oversubscription of only 1.42 times. Among the individual categories, retail investors placed the highest number of bids, oversubscribing their reserved category by 5.48 times. This was followed by Non-institutional Investors (NIIs), who bid 1.23 times. However, the Qualified Institutional Buyers (QIBs) portion was booked at only 8 per cent. Brigade Hotel Ventures IPO GMP On the final day of subscription, Brigade Hotel's unlisted shares were commanding a marginal premium in the grey market. Sources tracking unofficial market activity revealed the shares were trading at ₹91.5 per share, reflecting a GMP of only ₹1.5, or 1.67 per cent, over the upper end of the price band of ₹85 to ₹90. Brigade Hotel Ventures IPO details The public offering of Brigade Hotel comprises an entire fresh issue of 84.4 million equity shares. There is no offer-for-sale (OFS) component. The IPO is priced in the range of ₹85-90 per share, with a lot size of 166 shares. Investors can bid for a minimum of 166 shares and in multiples thereof. A retail investor would need a minimum of ₹14,940 to bid for one lot at the upper end price. The maximum limit for retail investors is 13 lots (2,158 shares), amounting to an investment of ₹1,94,220. As the IPO closes for subscription today, the basis of allotment is expected to be finalised on Tuesday, July 29. Shares are expected to be credited to investors' demat accounts on Wednesday, July 30. Brigade Hotel shares are tentatively set to list on the BSE and NSE on Thursday, July 31. Kfin Technologies is the registrar of the issue. JM Financial and ICICI Securities are the book-running lead managers. According to the red herring prospectus, the company plans to use the net issue proceeds for repayment of debt availed by itself and its subsidiary, SRP Prosperita Hotel Ventures. In addition, the funds will be used to buy an undivided share of land from the promoter, Brigade Enterprises, unidentified acquisitions and other strategic initiatives. The remaining funds will be used for general corporate purposes.
Time of India
5 days ago
- Business
- Time of India
Brigade Hotel IPO subscribed 98% on day 2: GMP hints at 7% listing pop
The Rs 759.6 crore IPO, entirely a fresh issue of 8.44 crore shares, is priced between Rs 85 and Rs 90 per share. The offer closes on July 28, with the stock set to list on the BSE and NSE on July 31. Tired of too many ads? Remove Ads GMP of Brigade Hotel IPO IPO details Portfolio and growth plans Financials and valuation Tired of too many ads? Remove Ads Analyst view The Rs 759.6 crore initial public offering ( IPO ) of Brigade Hotel Ventures (BHVL), a hospitality arm of real estate major Brigade Enterprises , was subscribed 98% on the second day of bidding on Friday, driven by strong interest from retail and non-institutional 1:12 pm on day 2, the retail tranche had been bid 3.93 times, while the non-institutional investor (NII) category saw 73% subscription. The quota for qualified institutional buyers (QIBs) received 8% the unofficial grey market, Brigade Hotel shares were trading at a premium of Rs 6 over the issue's upper price band of Rs 90, indicating a potential listing price of Rs 96 and an implied 6.7% upside. The GMP fell from Rs 8 on IPO, comprising a fresh issue of 8.44 crore shares, is priced in a range of Rs 85–90 per share and will remain open until July 28. The stock is scheduled to debut on both BSE and NSE on July operates nine upscale hotels with 1,604 rooms across key South Indian cities including Bengaluru, Chennai, Kochi, and Mysuru, as well as GIFT City in Gujarat. These properties are managed under marquee hospitality brands such as Marriott, Accor, and company posted an average occupancy rate of 76.8% in FY25, well above the industry average of 64.5%. BHVL aims to expand its portfolio to 14 hotels with 2,560 keys by FY29, with upcoming projects including a Grand Hyatt in Chennai and a Ritz-Carlton wellness resort in grew from Rs 350 crore in FY23 to Rs 468 crore in FY25, supported by strong operating performance, with EBITDA margins holding at 35%. However, net profit slipped to Rs 23.7 crore in FY25 from Rs 31 crore the previous year, while return ratios remain the top end of the price band, the issue is valued at a price-to-earnings (P/E) multiple of 125x and a price-to-book (P/B) of 32.3x — levels that outstrip peers such as Lemon Tree Hotels and Indian Hotels remain divided. Ventura Securities has issued a 'Subscribe' rating, citing the company's premium asset base and strong brand partnerships, while Canara Bank Securities has cautioned about steep valuations, suggesting only long-term investors consider the its strategic presence in South India, premium affiliations, and expansion pipeline, BHVL is well-positioned to ride India's hospitality upcycle. Yet, the subdued grey market premium of 9% and the lofty valuation metrics suggest limited near-term listing gains.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
&w=3840&q=100)
Business Standard
5 days ago
- Business
- Business Standard
Brigade Hotel IPO fully subscribed on Day 2, retail investors lead demand
Brigade Hotel Ventures IPO Day 2 subscription status: The initial public offering (IPO) of hotel developer Brigade Hotel Ventures has entered the second day of bidding and has received a lacklustre response from the investors so far. The mainline offering has received bids for 52.25 million shares, against 51.19 million equity shares on offer, leading to a subscription of only 1.02 times at 2 PM on Friday, showed NSE data. The retail investors subscribed about 4.06 times the quota reserved for them, and the non-institutional investors (NIIs) portion was booked only 77 per cent. However, the qualified institutional buyers (QIBs) subscribed only 8 per cent. Ahead of the issue, the company raised ₹324.7 crore from anchor investors. The company allocated 36 million equity shares to 17 anchor investors at the upper price end of the price band of ₹85 to ₹90 per share, according to the exchange filing. Brigade Hotel IPO GMP On the second day of subscription, the unlisted shares of Brigade Hotel Ventures were trading at ₹96 per share, commanding a grey market premium (GMP) of only ₹6 or 6.7 per cent compared to the upper end price of ₹90, according to the sources tracking unofficial markets. Brigade Hotel IPO Review According to analysts at Anand Rathi Research, with a strong emphasis on asset ownership and operational oversight, Brigade Hotel Ventures has consistently demonstrated high levels of operating efficiency. Its affiliation with the reputed Brigade Group provides it with the advantage of strong parentage, deep real estate expertise, and brand credibility. "At the upper price band, the company is valued at P/E of 160x to its FY25 earnings, EV/Ebitda of 25.3x and market cap of ₹3,418.4 crore post issue of equity shares. We believe that the IPO is fully priced and recommend a Subscribe- Long-term rating to the IPO," the brokerage said. READ MORE Brigade Hotel IPO details Brigade Hotel IPO comprises a fresh issue of 84.4 million equity shares and no offer for sale (OFS) component. The mainline issue will close for public subscription on Monday, July 28. The basis of allotment of shares is likely to be finalised on Tuesday, July 29. Brigade Hotel Ventures IPO will be listed on the bourses, BSE and NSE, tentatively on Thursday, July 31. A retail investor would need a minimum investment amount of ₹14,940 to bid for at least one lot at the upper price band. Retail investors can bid for a maximum of 13 lots or 2,158 shares, amounting to ₹1,94,220. Kfin Technologies is the registrar of the issue. JM Financial and ICICI Securities are the book-running lead managers.
Economic Times
6 days ago
- Business
- Economic Times
Brigade Hotel IPO subscribed 48% on Day 1 so far: GMP hints at 9% listing pop
GMP of Brigade Hotel IPO IPO details Portfolio and growth plans Financials and valuation Live Events Analyst view (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The Rs 759.6 crore initial public offering (IPO) of Brigade Hotel Ventures (BHVL), a hospitality arm of real estate major Brigade Enterprises , was subscribed 48% on the first day of bidding on Thursday, buoyed by strong interest from retail and non-institutional 2:36 pm on day 1, the retail tranche had been bid 1.94 times, while the non-institutional investor (NII) category saw 30% subscription. The quota for qualified institutional buyers (QIBs) received 8% the unofficial grey market, Brigade Hotel shares were trading at a premium of Rs 8 over the issue's upper price band of Rs 90, indicating a potential listing price of Rs 98 and an implied 8.9% IPO, comprising a fresh issue of 8.44 crore shares, is priced in a range of Rs 85–90 per share and will remain open until July 28. The stock is scheduled to debut on both BSE and NSE on July operates nine upscale hotels with 1,604 rooms across key South Indian cities, including Bengaluru, Chennai, Kochi, and Mysuru, as well as GIFT City in Gujarat. These properties are managed under marquee hospitality brands such as Marriott, Accor, and company posted an average occupancy rate of 76.8% in FY25, well above the industry average of 64.5%. BHVL aims to expand its portfolio to 14 hotels with 2,560 keys by FY29, with upcoming projects including a Grand Hyatt in Chennai and a Ritz-Carlton wellness resort in grew from Rs 350 crore in FY23 to Rs 468 crore in FY25, supported by a strong operating performance, with EBITDA margins holding at 35%. However, net profit slipped to Rs 23.7 crore in FY25 from Rs 31 crore the previous year, while return ratios remain the top end of the price band, the issue is valued at a price-to-earnings (P/E) multiple of 125x and a price-to-book (P/B) of 32.3x — levels that outstrip peers such as Lemon Tree Hotels and Indian Hotels remain divided. Ventura Securities has issued a 'Subscribe' rating, citing the company's premium asset base and strong brand partnerships, while Canara Bank Securities has cautioned about steep valuations, suggesting only long-term investors consider the its strategic presence in South India, premium affiliations, and expansion pipeline, BHVL is well-positioned to ride India's hospitality upcycle. Yet, the subdued grey market premium of 9% and the lofty valuation metrics suggest limited near-term listing gains.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
6 days ago
- Business
- Time of India
Brigade Hotel IPO subscribed 48% on Day 1 so far: GMP hints at 9% listing pop
The Rs 759.6 crore initial public offering (IPO) of Brigade Hotel Ventures (BHVL), a hospitality arm of real estate major Brigade Enterprises , was subscribed 48% on the first day of bidding on Thursday, buoyed by strong interest from retail and non-institutional investors. By 2:36 pm on day 1, the retail tranche had been bid 1.94 times, while the non-institutional investor (NII) category saw 30% subscription. The quota for qualified institutional buyers (QIBs) received 8% bids. Explore courses from Top Institutes in Please select course: Select a Course Category Management Digital Marketing Operations Management Data Science Others Leadership CXO Degree Product Management others Design Thinking Artificial Intelligence Data Science healthcare Technology Project Management MCA MBA Finance Public Policy Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK GMPBE India Starts on undefined Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Thanh Pho Ho Chi Minh: Unsold Furniture Liquidation 2024 (Prices May Surprise You) Unsold Furniture | Search Ads Learn More Undo GMP of Brigade Hotel IPO In the unofficial grey market, Brigade Hotel shares were trading at a premium of Rs 8 over the issue's upper price band of Rs 90, indicating a potential listing price of Rs 98 and an implied 8.9% upside. IPO details The IPO, comprising a fresh issue of 8.44 crore shares, is priced in a range of Rs 85–90 per share and will remain open until July 28. The stock is scheduled to debut on both BSE and NSE on July 31. Portfolio and growth plans BHVL operates nine upscale hotels with 1,604 rooms across key South Indian cities, including Bengaluru, Chennai, Kochi, and Mysuru, as well as GIFT City in Gujarat. These properties are managed under marquee hospitality brands such as Marriott, Accor, and IHG. The company posted an average occupancy rate of 76.8% in FY25, well above the industry average of 64.5%. BHVL aims to expand its portfolio to 14 hotels with 2,560 keys by FY29, with upcoming projects including a Grand Hyatt in Chennai and a Ritz-Carlton wellness resort in Kerala. Financials and valuation Revenues grew from Rs 350 crore in FY23 to Rs 468 crore in FY25, supported by a strong operating performance, with EBITDA margins holding at 35%. However, net profit slipped to Rs 23.7 crore in FY25 from Rs 31 crore the previous year, while return ratios remain subdued. Live Events At the top end of the price band, the issue is valued at a price-to-earnings (P/E) multiple of 125x and a price-to-book (P/B) of 32.3x — levels that outstrip peers such as Lemon Tree Hotels and Indian Hotels Co. Analyst view Brokerages remain divided. Ventura Securities has issued a 'Subscribe' rating, citing the company's premium asset base and strong brand partnerships, while Canara Bank Securities has cautioned about steep valuations, suggesting only long-term investors consider the offer. Given its strategic presence in South India, premium affiliations, and expansion pipeline, BHVL is well-positioned to ride India's hospitality upcycle. Yet, the subdued grey market premium of 9% and the lofty valuation metrics suggest limited near-term listing gains. Also read | GNG Electronics IPO subscribed over 20x on day 2: GMP rises to 42%
