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Brigade Hotel Ventures files Rs 900 crore IPO papers with SEBI

04 Nov 2024 Evaluate

Brigade Hotel Ventures has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 900 crore through an initial public offering (IPO). 

Proceeds from the issue to the tune of Rs 481 crore will go towards payment of debt, Rs 412 crore will be allocated to the company and Rs 69 crore to its material subsidiary, SRP Prosperita Hotel Ventures. Additionally, Rs 107.52 crore will be used to purchase an undivided share of land from the Promoter, BEL, and the remaining funds will support acquisitions, other strategic initiatives, and general corporate purposes. JM Financial and ICICI Securities are the book-running lead managers to the issue. 

Brigade Hotel Ventures is a wholly-owned subsidiary of Brigade Enterprises (BEL), which is one of the leading Indian real estate developers in India. The company has a portfolio of nine operating hotels across Bengaluru (Karnataka), Chennai (Tamil Nadu), Kochi (Kerala), Mysuru (Karnataka) and the GIFT City (Gujarat) with 1,604 keys. The hotels are operated by global marquee hospitality companies such as Marriott, Accor and InterContinental Hotels Group.


Brigade Hotel Ven. Share Price

65.58 0.32 (0.49%)
16-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Indian Hotel 653.30
ITC Hotels 161.85
EIH 319.75
Chalet Hotels 768.90
Mahindra Holi.&Resor 274.60
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