Brigade Hotel Ventures IPO Sees Full Subscription on Day 2 Amid Strong Retail Demand

Brigade Hotel Ventures Ltd has achieved full subscription for its ₹759.60 crore initial public offering by the second day of bidding, reflecting robust investor interest in India’s expanding hospitality sector.

Subscription Highlights

- The IPO was subscribed 1.00 times overall by midday on July 25  
- Retail investors led the charge with 4.01 times subscription, while the non-institutional investor (NII) category reached 0.73 times  
- Qualified institutional buyers (QIBs) remained cautious, subscribing just 0.08 times so far  

IPO Structure and Objectives

- The offering is a fresh issue of 8.44 crore equity shares, priced between ₹85 and ₹90 per share  
- Proceeds will be used for debt repayment, land acquisition from promoter Brigade Enterprises Ltd, and strategic expansion initiatives  
- The IPO is scheduled to close on July 28, with listing expected on July 31 on BSE and NSE  

Company Profile

- Brigade Hotel Ventures owns nine operating hotels with 1,604 keys across Bengaluru, Chennai, Kochi, Mysuru, and GIFT City  
- Properties are operated under global brands including Marriott, Accor, and InterContinental  
- The company reported FY24 revenue of ₹470.68 crore and net profit of ₹23.66 crore  

Sources: Reuters, LiveMint, Groww, Yahoo Finance, IPOWatch, Chittorgarh.