Brigade Hotel Ventures, the hotel chain operator owned by Bengaluru-based Brigade Enterprises, has filed Red Herring Prospectus (RHP) with the Registrar of Companies on July 18 to launch its Rs 759.6 crore IPO on July 24. The SEBI has cleared the draft papers of Brigade Hotel Ventures on February 4 this year.
The IPO consists of solely fresh issue with no offer-for-sale component, which means the offer proceeds will go to the company.
The Southern India-based company will launch its IPO anchor book on July 23, while the final day for bidding by retail, institutional and non-institutional investors will be July 28.
The IPO share allotment will get finalised by the end of July 29, and the trading in Brigade Hotel Ventures shares will commence on the BSE and NSE, effective July 31.
In pre-IPO round on July 3 this year, the company has allotted 1.4 crore shares to 360 ONE Special Opportunities Fund, and 360 ONE Large Value Fund at Rs 90 per share, amounting to Rs 126 crore.
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Hence, the fresh issue size has been reduced to Rs 759.6 crore. Brigade Hotel Ventures had filed preliminary papers with the SEBI for Rs 900 crore IPO on October 30 last year.
Brigade Hotel Ventures, which is valued at Rs 3,418.5 crore at Rs 90 per share, intends to utilise Rs 468.1 crore for repaying debt (which stood at Rs 619.2 crore as of May 2025).
Further, the Rs 107.5 crore funds will be used for buying undivided share of land from its promoter, real estate developer Brigade Enterprises, and the remainder money for inorganic growth through unidentified acquisitions and general corporate purposes.
Brigade Hotel Ventures has a portfolio of nine operating hotels with 1,604 keys, by global marquee hospitality companies such as Marriott, Accor and InterContinental Hotels Group.
There has been in consistency in financial performance with the profit in FY25 declining by 24 percent to Rs 23.7 crore, down from Rs 31.14 crore in the previous year. Revenue during the same period grew by 16.6 percent to Rs 468.3 crore, up from Rs 401.7 crore.
JM Financial, and ICICI Securities are acting as the book running lead managers for the Brigade Hotel Ventures IPO.
Along with Brigade Hotel Ventures, there would be three more IPOs scheduled for opening next week - Indiqube Spaces, GNG Electronics, and Shanti Gold International.
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