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Time of India
2 hours ago
- Business
- Time of India
Brigade Hotel Ventures IPO: Shares trade at 17% GMP ahead of IPO opening. Check details
Brigade Hotel Ventures IPO: In the unlisted market, the company's shares are said to be trading at a grey market premium (GMP) of ₹15–16. Brigade Hotel Ventures IPO: Brigade Hotel Ventures, the hospitality subsidiary of real estate firm Brigade Enterprises, is set to launch its initial public offering (IPO) on Thursday, July 24. The offering consists solely of a fresh issue valued at Rs 759.6 crore, with a price band of Rs 85 to Rs 90 per equity share. Tired of too many ads? Remove Ads Brigade Hotel Ventures IPO details Tired of too many ads? Remove Ads About Brigade Hotel Ventures Pre-IPO placement and investor allocation Brigade Hotel Ventures, the hospitality subsidiary of real estate firm Brigade Enterprises , is set to launch its initial public offering (IPO) on Thursday, July 24. The offering consists solely of a fresh issue valued at Rs 759.6 crore, with a price band of Rs 85 to Rs 90 per equity the unlisted market, the company's shares are reportedly commanding a grey market premium (GMP) of Rs 15-16, hinting at a possible 16.7% listing gain over the IPO's upper price band. However, analysts advise caution as GMPs are speculative and may not reflect actual listing IPO will remain open for bidding until July 28. Investors can apply for a minimum lot size of 166 shares and in multiples thereafter. Share allotment is likely to be finalized on July 29, with the listing tentatively scheduled for July 31 on the BSE and the top end of the price band, the company is estimated to have a post-issue valuation of over Rs 3,400 crore. Since the offer does not include any Offer for Sale (OFS), the full proceeds will be utilized for the company's growth and operational the Rs 759.6 crore being raised, Brigade Hotel Ventures plans to allocate Rs 468.14 crore towards debt repayment. An additional Rs 107.52 crore will be used to acquire a share of land from its parent entity, Brigade Enterprises. The remainder will be used for strategic acquisitions and general corporate a strong brand portfolio, strategic backing from Brigade Enterprises, and a presence in India's key urban markets, Brigade Hotel Ventures is looking to capitalize on investor demand amid a broader revival in the hospitality and tourism in 2004, Brigade Hotel Ventures began its hospitality operations in 2009 with the launch of Grand Mercure Bangalore. The company currently operates nine hotels across cities including Bengaluru, Mysuru, Chennai, Kochi, and Gujarat's GIFT City, offering a total of 1,604 group manages properties under prominent global hospitality brands such as Marriott, Accor, and InterContinental Hotels Group (IHG), lending it credibility and international this month, the company secured Rs 126 crore through a pre-IPO placement to 360 ONE Alternates Asset Management, indicating strong institutional interest in the the total issue size, 75% is earmarked for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for retail investors. JM Financial and ICICI Securities are acting as the book-running lead managers for the IPO.


Economic Times
2 hours ago
- Business
- Economic Times
Brigade Hotel Ventures IPO: Shares trade at 17% GMP ahead of IPO opening. Check details
Brigade Hotel Ventures IPO details Live Events About Brigade Hotel Ventures Pre-IPO placement and investor allocation (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Brigade Hotel Ventures, the hospitality subsidiary of real estate firm Brigade Enterprises , is set to launch its initial public offering (IPO) on Thursday, July 24. The offering consists solely of a fresh issue valued at Rs 759.6 crore, with a price band of Rs 85 to Rs 90 per equity the unlisted market, the company's shares are reportedly commanding a grey market premium (GMP) of Rs 15-16, hinting at a possible 16.7% listing gain over the IPO's upper price band. However, analysts advise caution as GMPs are speculative and may not reflect actual listing IPO will remain open for bidding until July 28. Investors can apply for a minimum lot size of 166 shares and in multiples thereafter. Share allotment is likely to be finalized on July 29, with the listing tentatively scheduled for July 31 on the BSE and the top end of the price band, the company is estimated to have a post-issue valuation of over Rs 3,400 crore. Since the offer does not include any Offer for Sale (OFS), the full proceeds will be utilized for the company's growth and operational the Rs 759.6 crore being raised, Brigade Hotel Ventures plans to allocate Rs 468.14 crore towards debt repayment. An additional Rs 107.52 crore will be used to acquire a share of land from its parent entity, Brigade Enterprises. The remainder will be used for strategic acquisitions and general corporate a strong brand portfolio, strategic backing from Brigade Enterprises, and a presence in India's key urban markets, Brigade Hotel Ventures is looking to capitalize on investor demand amid a broader revival in the hospitality and tourism in 2004, Brigade Hotel Ventures began its hospitality operations in 2009 with the launch of Grand Mercure Bangalore. The company currently operates nine hotels across cities including Bengaluru, Mysuru, Chennai, Kochi, and Gujarat's GIFT City, offering a total of 1,604 group manages properties under prominent global hospitality brands such as Marriott, Accor, and InterContinental Hotels Group (IHG), lending it credibility and international this month, the company secured Rs 126 crore through a pre-IPO placement to 360 ONE Alternates Asset Management, indicating strong institutional interest in the the total issue size, 75% is earmarked for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for retail investors. JM Financial and ICICI Securities are acting as the book-running lead managers for the IPO.


Time of India
5 days ago
- Business
- Time of India
Adani completely exits Fortune oil-maker AWL, sells remaining stake in Rs 3,733 crore block deal
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The conglomerate Adani Group on Friday completely exited Fortune oil producer AWL Agri Business, earlier known as Adani Wilmar, by selling the remaining 10.42% stake to a clutch of investors from the US, UK, Middle East, and India, according to people aware of the block trade was executed at a share price of Rs 275.5 per share, in which buyers were said to be marquee investors from the US, UK, Middle East, and India. AWL Agri Business shares were trading at Rs 277.30 in the morning session on Enterprises had yesterday announced selling a 20% stake to Singapore's Wilmar International , its joint venture partner in the business, in a Rs 7,150 crore Commodities Ltd (ACL), a wholly-owned subsidiary of Adani Enterprises Ltd, has now raised about Rs 10,900 crore in two days of stake sale Adani Group plans to use proceeds from the sale to turbocharge its investments in the core infrastructure platforms in airports, roads, green hydrogen, PVC, and in January this year, Adani had sold a 13.5% stake in an Offer for Sale (OFS) at Rs 275 per share in a Rs 4,850 crore International will replace Adani as a majority shareholder in AWL Agri Business Limited, with about a 64% TO COME...


Economic Times
6 days ago
- Business
- Economic Times
Rs 700 crore IndiQube IPO to open on July 23
Tired of too many ads? Remove Ads IndiQube Spaces IPO proceeds Tired of too many ads? Remove Ads IndiQube financials IndiQube IPO lead managers The Initial Public Offering (IPO) of workplace solutions provider IndiQube Spaces Limited will open on Wednesday July 23, Wednesday and close on July 25, Friday, company's Red Herring Prospectus (RHP) showed. The public issue comprises a fresh issue of Rs 650 crores and an Offer for Sale (OFS) of Rs 50 window for anchor investors to bid for the shares will open on Tuesday, July Rishi Das and Meghna Agarwal will offload shares worth Rs 25 crores each, the RHP company has proposed to utilise the fresh issue towards funding capex towards new centers to Rs 462.6 crores. It will use Rs 93 crores towards the repayment of debt while the remaining proceeds on general corporate IndiQubeIndiQube is a workplace technology stack MiQube that provides one-touch access to a variety of services, including booking meeting rooms, ordering meals among others and has surpassed 1 million in transaction volume in served 769 clients as of March 31, 2025 out of which 44% clients are Global Capability Centers. The company follows an enterprise-first strategy owing to which 63% of its occupied area comes from clients who have leased 300+ seats. Further, 44% of its revenue is generated from multi center clients. Its diverse client mix includes Enphase, Myntra, Zerodha, NoBroker, upGrad, Siemens , Juspay, Perfios, Moglix, Ninjacart, Narayana Health and Allegis to name a of March 31, 2025, the company manages a portfolio of 8.40 million square foot across 115 properties in 15 cities with a total seating capacity of 186,719, growing from 74 centers and 4.94 million square foot. in March 2023. Its AUM has grown at a CAGR of 30% over the last 2 years. According to CBRE, Bengaluru is the largest flex market in India. IndiQube, with a portfolio of 65 centers spanning 5.43 million square foot, is amongst the leading operators in company reported a total income of Rs 1,103 crores in fiscal 2025, recording a CAGR of 35% from Fiscal 2023. The company's FY25 EBITDA stood at Rs 660 crores with an RoCE of 34.21%, cash EBIT margins of 10.81% with an occupancy rate of 86.50% in steady state centers. The company's revenue from Value Added Services has increased from Rs 68 crores in fiscal 2023 to Rs 135 crores in fiscal 2025 growing at a CAGR of 40.69%. Nearly 13% of its revenue originated from VAS in per IGAAP accounting standards, the company has been PAT positive and has paid income tax to the tune of Rs 7.7 crores and Rs 8.4 crores in FY24 and FY25 respectively. The company has also received a CRISIL A+/Stable rating with consistent upgrades over the last 3 Capital has been a key investor in the firm since 2018. In two funding rounds during 2018 & 2022, the company has raised a total equity of Rs 324 crores led by WestBridge Capital with Rs 190 crores followed by promoter investment of Rs 131 crores and the remaining from angel investor Ashish workspaces are becoming an integral part of the commercial office market. The rise of hybrid work models, prudence in the use of capital, the need for flexibility, workspace planning, and a shift in work culture are amongst the factors fuelling the demand for flexible Book Running Lead Managers to the offer are ICICI Securities Limited and JM Financial Limited The equity shares are proposed to be listed on BSE and NSE.


Economic Times
6 days ago
- Business
- Economic Times
Adani Group sells 20% stake in AWL Agri Business to Wilmar in Rs 7,150 crore deal
Adani Group divested its 20% stake in AWL Agri Business Limited to Wilmar International for ₹7,150 crore at ₹275 per share, causing the stock to surge. This sale aligns with Adani's strategy to exit the FMCG sector, following a previous 13.5% stake sale in January. Wilmar International will now become the majority shareholder. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Apples-to-airport conglomerate Adani Group on Thursday sold its 20% stake in FMCG joint venture AWL Agri Business Limited to Singapore's Wilmar International in a Rs 7,150 crore deal priced at Rs 275 per the large deal, the stock rallied over 8% to day's high of Rs 283.85 on BSE. Today's stake sale is part of Adani Group's plan to exit the FMCG business Earlier in January this year, Adani had sold 13.5% stake in an Offer for Sale (OFS) at Rs 275 per share in Rs 4,850 crore International will replace Adani as majority shareholder in AWL Agri Business Limited, with about 64% stake. Following today's stake sale, Adani's stake in the company will fall down to about 11%.Last year in late December, Adani had announced its exit from the company which makes Fortune brand cooking oil, wheat flour and other food products. Subsequently, Adani Wilmar's name was changed to AWL Agri Group plans to use proceeds from the sale to turbocharge its investments in the core infrastructure platforms in energy & utility, transport & logistics, and other adjacencies in primary decision to sell 20% stake was taken at a board meeting of Adani Enterprises during the day after which the deal was executed in the Read: AWL Agri Business shares surge over 6% on record Q1 revenue "Pursuant to completion of the transactions above, ACL (Adani Commodities LLP) would completely exit AWL and consequently, AWL will cease to be the associate company of ACL and cease to be the associate of the Company," Adani Enterprises said in a regulatory filing."The aforesaid transactions shall result in a cash realization of Rs 10,874 crore in ACL. In addition, Rs 4,855 crore have already been realized by ACL through the offer for sale undertaken in January 2025, resulting in a total realization of Rs 15,729 crores for ACL," it is a wholly-owned subsidiary of Adani Enterprises Ltd.