Brigade Hotel Ventures Limited, a subsidiary of Brigade Enterprises, is launching its IPO on July 24, 2025, which will close on July 28, 2025. The company has filed its Draft Red Herring Prospectus (DRHP) dated October 30, 2024.
According to the DRHP and other filings:
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Issue Size: Approx. ₹759.6 crore, entirely a fresh issue.
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Face Value: ₹10 per equity share.
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Price Band: Not yet disclosed (to be finalized before opening).
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Retail Quota: Not more than 10%.
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QIB Quota: Not more than 75%.
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NII Quota: Not more than 15%.
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Listing: Shares will be listed on BSE & NSE, with trading expected to begin on July 31, 2025.
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Book Running Lead Managers: JM Financial and ICICI Securities.
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Registrar: KFin Technologies.
Financial Highlights:
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FY24 Revenue: ₹468.3 crore (up 16.6% YoY).
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FY24 Profit: ₹23.7 crore (down ~24% YoY).
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The company operates nine hotels (1,604 keys) under brands like Marriott, Accor, and IHG.
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Proceeds will primarily repay debt, purchase land from Brigade Enterprises, and support expansion plans.
Notable Points:
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No offer-for-sale (OFS) component — all proceeds go to the company.
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A pre-IPO placement worth ₹126 crore was already completed on July 3, reducing the fresh issue from ₹900 crore to ₹759.6 crore.
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Debt repayment allocation: ₹468.1 crore.
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Land acquisition: ₹107.5 crore.
The IPO aims to strengthen the company’s balance sheet, expand operations, and support inorganic growth.
Investors should watch out for the final price band and lot size, which are expected to be announced shortly.
