Brigade Hotel Ventures Ltd, a subsidiary of Bengaluru-based Brigade Enterprises, has announced its Initial Public Offering (IPO) with a price band of Rs 85–90 per share. The Rs 749.6 crore offering is entirely a fresh issue of equity shares, with no Offer For Sale (OFS) component, and is set to open for subscription from July 24 to July 28, 2025.
Key highlights of the IPO:
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- At the upper price band, the company is valued at over Rs 3,400 crore.
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- Anchor investor bidding will take place on July 23.
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- Shares are expected to list on July 31.
Use of proceeds:
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- Rs 468.14 crore will be allocated for debt repayment.
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- Rs 107.52 crore will be used to purchase an undivided share of land from the promoter, Brigade Enterprises Ltd.
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- Remaining funds will support acquisitions, strategic initiatives, and general corporate purposes.
Company profile:
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- Brigade Hotel Ventures operates nine hotels across Bengaluru, Mysuru, Chennai, Kochi, and GIFT City, totaling 1,604 keys.
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- Properties are managed by global hospitality giants including Marriott, Accor, and InterContinental Hotels Group.
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- The company recently raised Rs 126 crore from 360 ONE Alternates Asset Management.
Investor allocation:
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- 75% of the offer is reserved for qualified institutional buyers.
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- 15% is earmarked for non-institutional investors.
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- 10% is set aside for retail investors.
With a strong hospitality portfolio and strategic capital deployment, Brigade Hotel Ventures is positioning itself for long-term growth in India’s booming hotel sector.
Sources: Economic Times, CNBC TV18, Rediff Money, BusinessLine, Devdiscourse