Mumbai: Brigade Hotel Ventures Limited is set to launch its much-anticipated Initial Public Offering (Brigade Hotel IPO) on Thursday, July 24, 2025, with a price band of ₹85 to ₹90 per equity share of face value ₹10 each.
The offering comprises a fresh issue aggregating up to ₹759.6 crore and will close on Monday, July 28, 2025. The Anchor Investor bidding will commence a day earlier on Wednesday, July 23, 2025.
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The Brigade Hotel IPO is aimed at raising capital for debt repayment, acquisition of land assets from its promoter Brigade Enterprises Ltd. (BEL), and for pursuing inorganic growth opportunities and other corporate initiatives. JM Financial Limited and ICICI Securities Limited are acting as the Book Running Lead Managers (BRLMs) for the issue.
Key details of the Brigade Hotel IPO include:
- Price Band: ₹85 to ₹90 per equity share
- Minimum Bid Lot: 166 equity shares and multiples thereof
- Employee Discount: ₹3 per equity share for eligible employees
- Employee Reservation Portion: ₹75.96 million
- BEL Shareholders Reservation Portion: ₹303.84 million
- Net Issue: Balance post-reservations
- Total IPO Size: ₹759.6 crore
Utilization of Proceeds:
- Repayment/prepayment of certain borrowings: ₹468.14 crore
- Company loans: ₹413.69 crore
- Subsidiary (SRP Prosperita Hotel Ventures): ₹54.45 crore
- Land purchase from promoter BEL: ₹107.52 crore
- Future acquisitions and strategic initiatives
- General corporate purposes
The IPO will be conducted through the Book Building Process as per SEBI ICDR Regulations. Not less than 75% of the Net Issue will be reserved for Qualified Institutional Buyers (QIBs), up to 15% for Non-Institutional Investors (NIIs), and 10% for Retail Individual Investors (RIIs).
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A portion will also be set aside for Anchor Investors, including a mandatory allocation to Mutual Funds.
Applicants (excluding Anchor Investors) must apply through the ASBA process, providing bank account or UPI ID details for blocking the bid amount.
BEL shareholders and eligible employees will receive proportionate allocation based on valid bids.
Brigade Hotel IPO marks a strategic milestone for Brigade Hotel Ventures, a hospitality-focused arm of the Brigade Group, as it seeks to expand its footprint and strengthen its balance sheet with this public offering.
