Brigade Hotel Ventures IPO: Price Range Set For Rs 760 Crore — Check Details

Brigade Hotel Ventures Ltd. has set the price band at Rs 85 to Rs 90 per equity share for its initial public offering, opening this week. The IPO, aiming to raise up to Rs 759.6 crore from the primary market, will open for subscription on July 24 and close on July 28.

The IPO will only have a fresh issue of shares with a face value of Rs 10. It has no offer-for-sale component, implying that the company will receive the returns from the offer.

The net proceeds and the proceeds from the pre-IPO placement will be used for paying back debt and pursuing inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes, according to the red herring prospectus.

While Rs 468 crore will go for loan repayments, Rs 107.5 crore will be used for buying an undivided share of land from the promoter company. As of May 31, 2025, Brigade Hotel Ventures had total borrowings of Rs 619 crore on a consolidated basis.

The Securities and Exchange Board of India approved the company's IPO on Feb. 4.

The company will seek investments from large domestic and foreign institutions during the anchor round on July 23.

The allotment of shares to IPO investors will be done on July 30, and Brigade Hotel Ventures will list on the NSE and BSE on July 31.

The company has tapped JM Financial Ltd. and ICICI Securities Ltd. as book-running lead managers.

Promoter Brigade Enterprises Ltd.'s equity holding will dilute from 95.26% to 74%. Earlier this month, 360 One Wam invested Rs 126 crore in the pre-IPO round.