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Brigade Hotel Ventures Ltd, the hospitality arm of Bengaluru-based Brigade Enterprises, has raised INR 126 crore in a pre-IPO funding round from 360 ONE Alternates Asset Management. This investment, made at INR 90 per share, gives 360 ONE a 4.74% stake ahead of the company's planned INR 900 crore initial public offering. The proceeds will primarily go towards debt reduction and land acquisition, while also supporting the firm's inorganic expansion strategy. With a robust portfolio of 1,604 rooms spread across major South Indian cities and GIFT City, the company is seen as a significant player in the hospitality space.
Brigade Hotel Ventures Ltd has secured INR 126 crore through a pre-IPO equity placement to 360 ONE Alternates Asset Management. The funding comes just before the company hits the public market with its maiden INR 900 crore offering. Advertisement
The hospitality arm of Brigade Enterprises Ltd, headquartered in Bengaluru, issued 1.4 crore equity shares at a price of INR 90 each, giving 360 ONE a 4.74% stake in the company's pre-IPO shareholding. People aware of the development noted that this placement signals confidence from institutional investors in the brand's long-term performance and asset value.
According to the company's draft red herring prospectus, Brigade Hotel Ventures plans to deploy around INR 480 crore of the IPO proceeds towards reducing existing debt, while another INR 107 crore is earmarked for land acquisition. The rest will be allocated for strategic acquisitions to expand its presence via inorganic growth.
Founded in 2004, Brigade Hotel Ventures has carved out a solid presence in South India?s hospitality landscape. Its current portfolio comprises nine hotels with a combined inventory of 1,604 keys, strategically located across Bengaluru, Mysuru, Chennai, Kochi, and Gujarat's GIFT City.
These properties are managed through partnerships with global hospitality leaders such as Marriott, AAPC India Hotel Management Pvt Ltd (a subsidiary of Accor), and InterContinental Hotels Group (IHG). These alliances have played a critical role in boosting the company's brand visibility and operational efficiency.
Over the past few years, Brigade Enterprises has steadily expanded its hospitality footprint, and this pre-IPO transaction signals a crucial milestone. The group's intent to deleverage and invest in land also suggests a forward-looking approach in a sector that has shown signs of robust recovery post-pandemic.
Source PTI
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