Brigade Hotel Ventures IPO: Issue Price, Price Band, Financials, GMP — All You Need To Know
Shares of Brigade Hotel Ventures will debut on the BSE and National Stock Exchange.
(Source: Unsplash)
Brigade Hotel Ventures Ltd.'s initial public offering is set to open on Thursday, and aims to raise up to Rs 759.6 crore through the primary market.
The price band for the IPO is set between Rs 85 and Rs 90 per share. The company will raise the approved funds via fresh issue of shares with no offer for sale component available, as per the red herring prospectus.
JM Financial Ltd. and ICICI Securities Ltd. are the book-running lead managers of the offering and KFin Technologies Ltd. is the registrar.
Shares of Brigade Hotel Ventures will debut on the BSE and National Stock Exchange.
IPO Details
Issue opens: July 24.
Issue closes: July 28.
Issue price: Rs 85-90.
Fresh issue: Rs 759.6 crore.
Offer for sale: NA
Lot size: Minimum 166 shares.
Business
Brigade Hotel Ventures is a wholly owned subsidiary of Bengaluru-based Brigade Enterprises, a leading real estate developer that owns and operates hotels across major Indian cities.
The company currently runs nine hotels with a total of 1,604 rooms spread across Bengaluru and Mysuru in Karnataka, Chennai in Tamil Nadu, Kochi in Kerala, and GIFT City in Gujarat. These properties are operated in collaboration with international hospitality chains like Marriott, Accor, and the InterContinental Hotels Group.
Use Of Proceeds
Brigade Hotel Ventures will utilise the proceeds to repay outstanding loans taken by the company and its subsidiary RP Prosperita Hotel Ventures Ltd.
The funds will also be used toward purchasing an undivided share of land from its promoter, BEL, and for other general corporate purposes.
Financial Performance
Brigade Hotel Ventures' net profit declined 24% year-on-year to Rs 23.66 crore in fiscal 2025, compared to Rs 31.14 crore in the previous financial year 2024.
The company's revenue surged to Rs 468.25 crore, indicating a 16.6% rise during fiscal 2025 from Rs 401.7 crore in fiscal 2024.
Total borrowings grew by 2.7% to Rs 617.32 crore during the financial year 2024-25, against Rs 601.19 crore in fiscal 2024.
GMP
The grey market premium of Brigade Hotel Venture is Rs 16 as of 11:36 p.m., according to InvestorGain. This implies shares of the company are estimated to list at Rs 106 apiece, indicating a 17.78% premium to the upper end of the price band.
It should be noted that GMP or grey market price is not an official price quote for the stock and is based on speculation.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisers and read red herring prospectus thoroughly before placing bids.
