Brigade Enterprises Limited has announced a significant investment in its wholly owned subsidiary, Vibrancy Real Estates Private Limited (VREPL), through a joint venture with GSS India Opportunities AIF Scheme I. The collaboration aims to develop a prime land parcel in Whitefield, Bangalore, into an integrated mixed-use development.
The joint venture involves Brigade Enterprises and GSS India Opportunities AIF Scheme I, a SEBI-registered Category II Alternative Investment Fund managed by Bain Capital Advisors (India) Private Limited. The agreement, formalised on April 26, 2026, includes a Securityholders Agreement (SHA) and a Securities Subscription Agreement (SSA).
As part of the agreement, GSS India Opportunities AIF Scheme I will subscribe to 35,31,706 equity shares and 11,200 optionally convertible debentures of VREPL. Meanwhile, Brigade Enterprises will subscribe to 25,31,706 equity shares and 10,00,000 optionally convertible redeemable preference shares of VREPL. This investment will result in both Brigade Enterprises and the investor holding a 50% stake in VREPL.
Vibrancy Real Estates Private Limited holds 11.04 acres of prime land in Whitefield, Bangalore. The development plans include constructing Grade A office space and a 5-star hotel, covering approximately 2 million square feet.
The transaction is considered a related party transaction as VREPL is a wholly owned subsidiary of Brigade Enterprises. The acquisition is conducted at arm’s length, with valuations based on reports from registered valuers.
The allotment of shares is expected to be completed within one week, subject to standard corporate-secretarial conditions. The investment will be made in cash consideration for the equity shares, optionally convertible debentures, and optionally convertible redeemable preference shares.
Vibrancy Real Estates Private Limited, incorporated on February 21, 2022, is focused on real estate development, specifically the construction, operation, and development of office and hotel spaces in India. The company has not reported any turnover in the past three financial years.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).