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Business Standard
24-07-2025
- Business
- Business Standard
Brigade Hotel Ventures IPO opens today; GMP up 9%; should you subscribe?
Brigade Hotel Ventures IPO opens for public subscritpion: Hotels chain operator Brigade Hotel Ventures is set to launch its initial public offering (IPO) today, July 24, 2025. At the upper end, the company seeks to raise ₹759.60 crore from the public issue, which comprises an entirely fresh issue of 84.4 million equity shares. Brigade Hotel Ventures has announced that it has already raised ₹324.72 crore from the anchor investors on the bidding concluded on July 23. The anchor book saw participation from investors, including SBI Mutual Fund (MF), 360 One MF, Axis MF, Motilal Oswal MF, Bandhan MF, Edelweiss MF, and Nuvama MF. The brokerages remain optimistic on the public offering of Brigade Hotel Ventures for the long-term investment outlook, citing the company's expansion and improving financial performance. Here are the key details of Brigade Hotel Ventures IPO: Brigade Hotel Ventures IPO price band, lot size Brigade Hotel Ventures IPO is being offered at a price band of ₹85–90 per share, and a lot size of 166 shares. Thus, the investors can bid for a minimum of 166 shares and in multiples thereof. A retail investor would require ₹14,940 to bid for one lot or 166 shares of Brigade Hotel Ventures IPO. A retail investor can, however, bid for a maximum of 13 lots or 2,158 shares of Brigade Hotel Ventures IPO with an investment of ₹1,94,220. Brigade Hotel Ventures IPO grey market premium (GMP) The unlisted shares of Brigade Hotel Ventures were commanding a decent premium in the grey markets ahead of the opening of their public issue on Thursday. Sources tracking unofficial market activity revealed that Brigade Hotel Ventures shares were trading at ₹98 apiece, reflecting a grey market premium (GMP) of ₹8 or 8.89 per cent over the upper price band of ₹90. Brigade Hotel Ventures IPO timelines The three-day subscription window to bid for the Brigade Hotel Ventures IPO is likely to close on Monday, July 28, 2025. Following that, the basis of allotment of Brigade Hotel Ventures IPO shares is expected to be finalised on Tuesday, July 29, 2025, and shares will be credited to successful allottees' demat accounts on Wednesday, July 30, 2025. Shares of Brigade Hotel Ventures are set to make their D-Street debut tentatively on Thursday, July 31, 2025. Brigade Hotel Ventures IPO registrar, lead manager Kfin Technologies serves as the registrar for the Brigade Hotel Ventures IPO, while JM Financial is the sole book-running lead manager for the issue. Brigade Hotel Ventures IPO objectives The company proposes to utilise the proceeds from the public issue for the repayment or prepayment, either in full or in part, of certain outstanding borrowings availed by the company and its material subsidiary, SRP Prosperita Hotel Ventures Limited. A portion of the proceeds will also be used for the payment of consideration towards the purchase of an undivided share of land from the Promoter, BEL. Additionally, the funds will support the company's inorganic growth plans through potential unidentified acquisitions and other strategic initiatives. The remaining proceeds will be allocated towards general corporate purposes. Should you subscribe to Brigade Hotel Ventures IPO? Canara Bank Securities – Subscribe for long-term Analysts at Canara Bank Securities have recommended that investors bid for the Brigade Hotel Ventures IPO with a long-term outlook. "Its high occupancy, strategic alliances with global hotel chains, strong brand equity, and premium location focus enhance its long-term prospects." Brigade Hotel Ventures IPO is valued at a steep P/E of 125x and P/B of 32.26x (FY25), which the analysts said is well above the industry averages of 92.53x and 4.95x respectively. "We recommend a Subscribe rating only for well-informed investors with a long-term outlook, given the company's aggressive expansion, improving financial performance, and strategic advantage in high-growth hospitality corridors," wrote the analysts in their report. SBI Securities – Subscribe for long term Brokerage firm SBI Securities has also recommended investors to subscribe to the issue at the cut-off price for the long term. The brokerage, in its report, highlighted that the company has demonstrated strong financial growth, with a CAGR of 15.6 per cent in revenue, 30 per cent in Ebitda, and 73.2 per cent in PAT over FY23–FY25. However, it also noted that the company has a negative Reserves & Surplus of ₹196 crore as of March 2025, owing to accumulated losses in the past. "Out of the total IPO proceeds of ₹760 crore, BHVL will utilise approximately ₹468 crore towards debt repayment, which will lead to a reduction in the debt-to-equity ratio to below 1.0x from the current 7.1x, and an improvement in profitability as interest cost savings of ₹45 crore will flow through the P&L. Going forward, trends in occupancy levels and average room rates (ARR) of the company will be key monitorables," said the brokerage in its report. "At the upper price band of ₹90, BHVL is valued at a FY25 EV/Ebitda of 19.8x. We recommend subscribing at the cut-off price for the long term." About Brigade Hotel Ventures Brigade Hotel Ventures Limited is an owner and developer of hotels in key Indian cities, with a primary focus on South India. The company is the second-largest owner of chain-affiliated hotels and hotel rooms in South India—including the states of Karnataka, Tamil Nadu, Kerala, Andhra Pradesh, Telangana, and the Union Territories of Lakshadweep, Andaman and Nicobar Islands, and Puducherry—among major private hotel asset owners (defined as investors owning at least 500 rooms across India).
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Business Standard
10-07-2025
- Business
- Business Standard
SBI MF enters SIF space with new offerings under 'Magnum' brand name: Dy MD
SBI Mutual Fund (MF), the largest fund house in India, is set to enter the specialised investment fund (SIF) space under the 'Magnum' brand. The fund house, which recently received the licence, is exploring products in the equity and hybrid space, said D P Singh, Deputy Managing Director and Joint Chief Executive Officer, SBI MF. The fund house said it chose the name Magnum considering the existing brand association. Many of SBI MF's earlier schemes carried the Magnum name. 'We have sufficient in-house talent with a large and highly experienced investment team, and we plan to leverage on the expertise of our existing team for managing the investment strategies under SIF,' Singh said. SBI is the fifth fund house to announce a foray into the SIF segment. Edelweiss, ITI, Mirae Asset and Quant are the other fund houses that have secured licences. Other players like Axis and Nippon have also announced their plans to enter the space. Most fund houses planning to launch SIFs have opted to rely on their existing fund management teams. SIFs are a new product segment within the mutual fund framework that offers fund managers more flexibility in terms of investment strategy. These funds, which have a minimum ticket size of ₹10 lakh, can be equity, debt or hybrid in structure. 'SIF strategies are more suitable for evolved investors who understand the markets and their technicalities, and for investors who are keen on investment strategies that are more advanced than mutual funds,' Singh said, adding that wealth counters of banks, individual and national distributors are best placed to distribute SIFs. The current SIF rules allow up to seven SIF products: two each in equity (equity long-short, equity ex-top 100 long-short, and sector rotation long-short), hybrid (active asset allocator long-short and hybrid long-short), and debt (long-short and sector long-short) categories.
Time of India
09-07-2025
- Business
- Time of India
ICICI Prudential AMC IPO: Fund house plans mega Rs 10,000 crore offering; files Draft Red Herring Prospectus
A joint venture between ICICI Bank and Prudential Corporation Holdings Limited, the fund house has been operating since 1998. (AI image) Mumbai: ICICI Prudential Asset Management Company Ltd has filed its Draft Red Herring Prospectus with markets regulator SEBI for a Rs 10,000 crore IPO. The shares on offer constitute 10% of the total equity of the fund house. A joint venture between ICICI Bank and Prudential Corporation Holdings Limited, the fund house has been operating since 1998. It is the second largest asset management company in India after SBI Mutual Fund and has a 13.3% share in the assets managed by the industry. In addition to its mutual fund business, it also has a growing alternates business comprising portfolio management services, management of alternative investment funds and advisory services to offshore clients. The offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not less than 15% and 35% of the net offer is assigned to non-institutional bidders and retail individual bidders respectively. ICICI Prudential Mutual Fund will be the fourth asset management company to go public. HDFC Mutual Fund, SBI Mutual Fund, Nippon Life Mutual Fund and Aditya Birla Sun Life Mutual Fund are already listed on Indian stock markets. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giá vàng đang tăng mạnh trong năm 2025 — Các nhà giao dịch thông minh đã tham gia IC Markets Tìm hiểu thêm Undo Asset management companies have done well in recent years, riding on the multi-year bull run in the stock markets and the phenomenal surge in investor interest. ICICI Prudential AMC Limited's revenue from operations increased 32.4% from Rs 3,758 crore in 2023-24 to Rs 4,977 crore in 2024-25. Profit after tax increased 29.3% to Rs 2,651 crore in the financial year 2024-25, compared to Rs 2,050 crore in the previous year. ICICI Prudential is a trusted name in the financial space and its parent company ICICI Bank gives it a strong brand reputation. However, its IPO might face strong competition from already-listed giants like HDFC Mutual Fund and SBI Mutual Fund, which have established market positions and investor trust. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Business Standard
09-07-2025
- Business
- Business Standard
Elgi Equipments jumps after SBI MF hikes stake
Elgi Equipments surged 5.95% to Rs 565.95 after SBI Mutual Fund acquired 18.12 lakh shares in a bulk deal on Tuesday, 8 July 2025. The transaction, executed on the BSE at Rs 532 per share, represents a 0.57% stake in the company. This fresh investment adds to SBI Small Cap Fund's existing holding of 3.22% in Elgi Equipments, as per the shareholding pattern disclosed for March 2025. Elgi Equipments is a leading manufacturer of air compressors. On a consolidated basis, net profit of Elgi Equipments rose 33.79% to Rs 102 crore while net sales rose 14.66% to Rs 992.90 crore in Q4 March 2025 over Q4 March 2024.
Economic Times
09-07-2025
- Business
- Economic Times
Elgi Equipments shares gain 5% after bulk deal by SBI Mutual Fund
Shares of Elgi Equipments rose nearly 5% on Wednesday, trading around Rs 560. The stock's upward movement followed a significant bulk deal and a routine regulatory disclosure by the company. ADVERTISEMENT On July 8, 2025, SBI Mutual Fund acquired 1,812,760 shares of Elgi Equipments through a bulk deal at a price of Rs 532 per share, indicating strong institutional interest in the stock. In addition to the bulk transaction, the company submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. This regulation mandates confirmation of securities dematerialised during the quarter. According to the filing, Elgi Equipments confirmed that all securities received for dematerialisation for the quarter ended June 30, 2025, were processed by its Registrar and Share Transfer Agent, MUFG Intime India Pvt Ltd. The securities were either accepted or rejected by the depositories, and relevant updates were made in the company's register of members.'The security certificates received were mutilated and cancelled after verification, and the depositories' names were substituted as the registered owners within the prescribed timelines,' the company stated in its the regulatory update is a routine compliance measure, it assures investors that Elgi Equipments continues to meet SEBI's procedural requirements. ADVERTISEMENT On the technical front, the Daily RSI (14) for Elgi Equipments stands at 56.6, indicating neutral to moderately bullish momentum. (Note: An RSI below 30 suggests the stock is oversold, while a reading above 70 indicates it may be overbought.)Additionally, the stock is showing strong bullish momentum across moving averages—it is currently trading above all 8 key Simple Moving Averages (SMAs), ranging from the 5-day to the 200-day SMA. This alignment of short- and long-term averages reinforces the stock's positive trend and indicates strong underlying support across timeframes. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
