MUMBAI, JULY 22, 2025: Brigade Hotel Ventures Limited (BHVL), a prominent player in the hospitality sector, has announced that its Initial Public Offering (IPO) will open on Thursday, July 24, 2025. The issue will be open for subscription until Monday, July 28, 2025, with the anchor investor bidding scheduled for Wednesday, July 23, 2025. The company aims to raise ₹759.60 crore through this IPO, which will consist entirely of a fresh issue of equity shares.
IPO Details at a Glance:
Price Band: Fixed at ₹85 to ₹90 per equity share (face value of ₹10).
Minimum Bid: Applications can be made for a minimum of 166 equity shares and in multiples of 166 shares thereafter.
Employee Discount: Eligible employees bidding in the Employee Reservation Portion will receive a discount of ₹3 per equity share. A total of ₹7.596 crore worth of equity shares have been reserved for this segment.
BEL Shareholder Reservation: Equity shares aggregating up to ₹30.384 crore will be allotted to BEL shareholders on a proportionate basis.
Utilisation of Funds:
Brigade Hotel Ventures Limited plans to primarily utilize the net proceeds from the IPO for debt repayment. A total of ₹468.14 crore is earmarked for the repayment/prepayment of outstanding borrowings, which includes ₹413.69 crore availed by the company and ₹54.45 crore by its material subsidiary, SRP Prosperita Hotel Ventures Limited. Additionally, ₹107.52 crore will be used for the payment of consideration to acquire an undivided share of land from its promoter, BEL. The remaining funds will be allocated for pursuing inorganic growth through unidentified acquisitions, other strategic initiatives, and general corporate purposes.
The IPO will be conducted through the Book Building Process, in compliance with SEBI ICDR Regulations, 2018. Not less than 75% of the net issue will be available for allocation to Qualified Institutional Buyers (QIBs), with up to 60% of the QIB portion being available for allocation to Anchor Investors. The remaining 15% of the net issue will be for Non-Institutional Bidders, and not more than 10% for Retail Individual Bidders. All bidders, except Anchor Investors, are required to mandatorily utilise the ASBA (Application Supported by Blocked Amount) process. JM Financial Limited and ICICI Securities Limited are serving as the Book Running Lead Managers for this issue.
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