Bengaluru, July 23, 2025: Brigade Hotel Ventures Limited will open its Initial Public Offering (IPO) on Thursday, July 24, 2025, and close on Monday, July 28, 2025. The price band has been fixed at ₹85 to ₹90 per equity share of face value ₹10. Anchor investor bidding was completed on July 23.
The IPO comprises a fresh issue aggregating ₹759.6 crore. Investors can bid for a minimum of 166 equity shares, in multiples thereafter. Eligible employees will receive a ₹3 per share discount under the employee reservation portion.
Use of Proceeds
The company intends to utilise the proceeds for:
Repayment/prepayment of loans (₹681.4 crore) of the company and its subsidiary, SRP Prosperita Hotel Ventures
Purchase of land from promoter Brigade Enterprises Limited (₹107.52 crore)
Future acquisitions and general corporate purposes
Issue Structure
The IPO includes:
₹75.96 crore reserved for employees
₹303.84 crore for Brigade Enterprises Limited (BEL) shareholders
The remaining Net Issue is allocated as per SEBI norms:
QIBs: Minimum 75% (including anchor investors and mutual funds)
NIIs: Maximum 15%, divided by application size
Retail Investors: Maximum 10%
In case QIB subscription falls below 75%, the issue will be withdrawn and funds refunded.
All investors (except anchor investors) must apply through the ASBA mechanism, with UPI required for retail applicants.
Lead Managers
IM Financial Limited and ICICI Securities Limited are acting as Book Running Lead Managers.
For full details, refer to the RHP: https://bhvl.in/red-herring-prospectus/
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