IPO Overview
Brigade Hotel Ventures, a subsidiary of Brigade Enterprises, opened its IPO for subscription on July 24, aiming to raise ₹759.6 crore through a fresh issue of 8.44 crore shares. The price band is set at ₹85–₹90 per share, with listing planned on BSE and NSE by July 31.
Key Highlights
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Anchor investors have already committed ₹324.7 crore ahead of the public issue
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Retail investors can bid for a minimum of 166 shares, requiring ₹14,940
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Grey market premium currently hovers around ₹7–₹9 per share
Business Snapshot
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Operates nine hotels across Bengaluru, Chennai, Kochi, Mysuru, and GIFT City
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Portfolio includes 1,604 keys managed by global brands like Marriott and Accor
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FY25 revenue stood at ₹470.68 crore, with PAT at ₹23.66 crore
Use of Proceeds
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₹468.14 crore allocated for debt repayment
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₹107.52 crore for land acquisition from the promoter
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Remaining funds earmarked for strategic growth and corporate purposes
Source: Business Standard, Moneycontrol, Chittorgarh