The IPO market is buzzing again, and hospitality is making headlines. One of the most anticipated issues this week is from Brigade Hotel Ventures, the hotel arm of real estate major Brigade Enterprises. With a portfolio of premium hotels across South India and global partners like Marriott and Accor, the company is opening its Rs 759.6 crore IPO on July 24.
Let’s take a look at the 7 key things every investor should know before applying.
Brigade Hotel Ventures IPO: Key dates to remember
The Brigade Hotel Ventures IPO will open its three-day bidding window on July 24 and close on July 28. The anchor book will open on July 23, and shares are likely to list on July 31. After the subscription process, the allotment of shares are expected to be finalised by July 29.
Brigade Hotel Ventures IPO: A fresh issue with no OFS
The Rs 759.6 crore IPO is a completely fresh issue, with no offer-for-sale (OFS) portion. In simple terms, this means that the company will receive all the funds raised, which will be used for business needs and not for promoter exit.
Brigade Hotel Ventures IPO: Find utilisation
Out of the total proceeds, Rs 468.1 crore will go toward repaying debt, which stood at over Rs 600 crore.
Apart from this, another Rs 107.5 crore will be used to purchase land from its promoter, Brigade Enterprises. Furthermore, the remaining amount will support future acquisitions and corporate purposes.
Brigade Hotel Ventures IPO: About the company
Brigade Hotel Ventures runs nine hotels with 1,604 keys across Bengaluru, Mysuru, Chennai, Kochi, and GIFT City. Moreover, these properties are operated by top-tier hospitality brands like Marriott, Accor, and IHG.
Brigade Hotel Ventures IPO: Pre-IPO placement at Rs 90 per share
Now coming to the pre-IPO placement, it was held on July 3. The company raised Rs 126 crore from institutional investors such as 360 ONE Special Opportunities Fund. The shares were allotted at Rs 90 apiece, effectively lowering the public issue size from the earlier planned Rs 900 crore.
Brigade Hotel Ventures IPO: Financials – revenue up, profits down
While the company’s revenue grew 16.6% in FY25 to Rs 468.3 crore, its net profit fell by 24% to Rs 23.7 crore.
Brigade Hotel Ventures IPO: Top brokerage houses on board
JM Financial and ICICI Securities are the book-running lead managers for the IPO. Shares will be listed on both the NSE and BSE post allotment.