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Brigade Hotel Ventures IPO: Brigade Hotel Ventures is set to launch its initial public offering (IPO) next week to raise up to ₹759.6 crore from the capital markets. The issue will open for public subscription on July 24 and close on July 28, as per the company’s red herring prospectus (RHP).
Is it fresh issue or OFS?
The IPO comprises a fresh issue of equity shares with a face value of Rs 10 each. There is no offer for sale (OFS) component, which means that the entire proceeds from the offering will go directly to the company for its business objectives.
The company is expected to announce the official price band and lot size for the IPO on Monday, July 21, during its scheduled press conference.
Use of IPO Proceeds
The company plans to utilise the net proceeds of the IPO and the pre-IPO placement funds for:
- Rs 468 crore towards repayment of borrowings
- Rs 107.5 crore for the purchase of undivided share of land from its promoter company
- Remaining funds for inorganic growth opportunities, strategic acquisitions, and general corporate purposes
As of May 31, 2025, Brigade Hotel Ventures had total consolidated borrowings of Rs 619 crore.
BRLMs
JM Financial and ICICI Securities are acting as the book-running lead managers to the IPO.
About Brigade Hotel Ventures
Brigade Hotel Ventures is the owner and developer of hotels in key Indian cities, with a footprint across South India. It is a wholly-owned subsidiary of Brigade Enterprises Ltd. (BEL), a leading real estate developer in India.
The company owns a portfolio of chain-affiliated hotels and rooms across the southern states of Karnataka, Kerala, Tamil Nadu, Andhra Pradesh, Telangana, and union territories including Puducherry, Lakshadweep, and the Andaman & Nicobar Islands.
As of June 30, 2024, Brigade Hotel Ventures was among the major private hotel asset owners in South India, with ownership of at least 500 rooms pan-India.
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