In preparation for its July 24 INR 759.6 crore initial public offering (IPO), Brigade Hotel Ventures, the hotel chain operator owned by Brigade Enterprises, a Bengaluru-based company, submitted the Red Herring Prospectus (RHP) with the Registrar of Companies on July 18. Brigade Hotel Ventures’ draft documents were approved by SEBI on February 4 of this year.
IPO Details and Timeline
The company will get the offer funds because the IPO is a fresh issuance only and does not include an offer-for-sale component. On July 23, the Southern India-based company will open its initial public offering (IPO) anchor book. Retail, institutional, and non-institutional investors will have until July 28 to place their bids.
By the end of July 29, the IPO share allocation will be finalised, and on July 31, trading in Brigade Hotel Ventures shares will start on the BSE and NSE. The company distributed 1.4 crore shares to 360 ONE Special Opportunities Fund and 360 ONE Large Value Fund at INR 90 per share, totalling INR 126 crore, during the pre-IPO transaction on July 3 of this year.
Brigade Hotel Ventures Reduces IPO Size to INR 759.6 Crore
At INR 759.6 crore, the new issue size has been lowered. On October 30 of last year, Brigade Hotel Ventures submitted preliminary documents to SEBI for an INR 900 crore initial public offering.
Brigade Hotel Ventures plans to use INR 468.1 crore to pay off debt, which was INR 619.2 crore as of May 2025. The company is valued at INR 3,418.5 crore at INR 90 per share.
Additionally, Brigade Enterprises, a real estate developer, and its promoter would sell its undivided land portion for INR 107.5 crore. The remaining funds will be used for general business purposes and inorganic growth by unnamed acquisitions.
Financial Performance: Revenue Up, Profits Down
With nine operational hotels and 1,604 keys, Brigade Hotel Ventures owns properties from well-known international hospitality chains like Marriott, Accor, and InterContinental Hotels Group.
The earnings in FY25 dropped by 24% to INR 23.7 crore from INR 31.14 crore the year before, indicating inconsistent financial performance. Over the same time period, revenue increased from INR 401.7 crore to INR 468.3 crore, a 16.6% increase.
Lead Managers and Other Upcoming IPOs
The book running lead managers for the Brigade Hotel Ventures IPO are ICICI Securities and JM Financial. In addition to Brigade Hotel Ventures, Indiqube Spaces, GNG Electronics, and Shanti Gold International are the other three initial public offerings (IPOs) that are set to launch next week.
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