Advertisement
Brigade Hotel Ventures Ltd, a subsidiary of Brigade Enterprises Ltd, is set to launch an initial public offering worth INR 749.6 crore. The offering, entirely a fresh issue with no offer-for-sale component, aims to raise capital for debt repayment, land acquisition from the promoter company BEL, and strategic expansion. The firm operates nine hotels across South India and GIFT City through partnerships with hospitality brands like Marriott, Accor, and IHG. Equity shares were earlier placed with 360 ONE Alternates Asset Management, raising INR 126 crore.
Brigade Hotel Ventures Ltd, a hotel ownership and development entity operating primarily in South India, is preparing to open its INR 749.6 crore initial public offering. The offer, which will consist solely of a fresh issue of equity shares, will not include any offer-for-sale by existing shareholders. Bidding from anchor investors is expected to commence a day prior to the IPO launch. Advertisement
The proceeds are slated for multiple uses. A major portion, amounting to INR 468.14 crore, is earmarked for repaying outstanding borrowings. Another INR 107.52 crore will be allocated towards purchasing an undivided share of land from its promoter company, Brigade Enterprises Ltd (BEL). The remaining funds will support acquisitions, strategic growth activities, and corporate operations.
Brigade Hotel Ventures recently raised INR 126 crore in a pre-IPO placement to 360 ONE Alternates Asset Management. The company operates as a subsidiary of the Bengaluru-based real estate developer BEL. BEL ventured into the hospitality segment in 2004, with its first hotel, Grand Mercure Bangalore, commencing operations five years later.
Currently, Brigade Hotel Ventures manages a portfolio of nine hotels located in Bengaluru, Mysuru, Chennai, Kochi, and GIFT City. These properties, comprising a total of 1,604 keys, are managed under international hospitality banners, including Marriott, Accor, and InterContinental Hotels Group (IHG).
The IPO is being managed by JM Financial and ICICI Securities, who serve as the book-running lead managers. The equity shares are anticipated to be listed on Indian stock exchanges following the IPO closure.
Source - PTI
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
