Brigade Hotel Ventures IPO to Open on 24 July; Check Key Details Here
Brigade Hotel Ventures Ltd, the hospitality arm of Bengaluru-based Brigade Enterprises Ltd (BEL), is set to launch its Initial Public Offering (IPO) on July 24, 2025. As per the red herring prospectus, the issue will remain open until July 28, with anchor investor bidding commencing a day earlier, on July 23.
The basis of allotment will be finalised by July 29, 2025, and tentative listing on BSE and NSE is July 31, 2025.
Offer Details
- Price Band: The IPO price band is set at ₹85 to ₹90 per share.
- Lot Size:
- For retail investors: 1 lot (166 shares), requiring a minimum investment of ₹14,110.
- For Non-Institutional Investors (NIIs)
- sNII (small NII): Minimum application of 14 lots (2,324 shares), requiring an investment of ₹2,09,160.
- bNII (big NII): Minimum application of 67 lots (11,122 shares), requiring an investment of ₹10,00,980.
- Book-running lead manager: Jm Financial Limited
- Registrar: Kfin Technologies Limited
- Use of Proceeds: The funds raised from the IPO will be allocated as follows:
- ₹107.52 crore for acquiring an undivided share of land from the promoter, Brigade Enterprises Ltd.
- ₹468.14 crore to repay outstanding borrowings of the company and its subsidiary, SRP Prosperita Hotel Ventures Ltd.
- The remaining funds will be used for acquisitions, other strategic initiatives, and general corporate purposes.
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About the company
Brigade Hotel Ventures is a prominent owner and developer of hotels, primarily operating in key cities across South India. As of March 31, 2025, they stand as the second-largest private hotel asset owner in the region.
The company operates nine hotels across strategic locations such as Bengaluru, Chennai, Kochi, Mysuru, and GIFT City in Gujarat, offering a total of 1,604 rooms which are managed by leading global hospitality brands including Marriott, Accor, and InterContinental Hotels Group.
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