Brigade Hotel Ventures fixes IPO price band at ₹85-90, looks to raise ₹759.60 crore

Brigade Hotel Ventures Ltd., owner and developer of hotels in South India, has fixed a price band of ₹85-90 per share for its ₹759.60-crore initial public offering (IPO). Investors can bid for a minimum of 166 shares and in multiples thereof.The issue opens for subscription on July 24, and will close on July 28. The one-day bidding for the anchor investor will open on July 23.
Brigade Hotel Ventures’ IPO is entirely a fresh issue of equity shares with no offer-for-sale (OFS) component.
Of the total issue proceeds, ₹468.14 crore will be used for debt payment, ₹107.52 crore will be utilised for the purchase of an undivided share of land from the promoter, BEL, and the remaining funds will support acquisitions, other strategic initiatives, and general corporate purposes.Earlier this month, Brigade Hotel Ventures garnered ₹126 crore by selling equity shares to 360 ONE Alternates Asset Management.
Brigade Hotel Ventures Ltd. is a subsidiary of Bengaluru-based real estate company Brigade Enterprises Ltd (BEL).BEL entered into the hospitality business in 2004 with the development of its first hotel, Grand Mercure Bangalore, which commenced operations in 2009.

The company has a portfolio of nine operating hotels across Bengaluru (Karnataka), Chennai (Tamil Nadu), Kochi (Kerala), Mysuru (Karnataka) and GIFT City (Gujarat) with 1,604 keys.

These hotels are operated by global marquee hospitality companies, such as Marriott, Accor and InterContinental Hotels Group.

The company’s profit declined by 24% to ₹23.7 crore in FY25, down from ₹31.14 crore in the previous year. Revenue during the same period grew by 16.6% to ₹468.3 crore, up from ₹401.7 crore.

JM Financial and ICICI Securities are the book-running lead managers to the issue, while Kfin Technologies is the registrar.

The allotment for the Brigade Hotel Ventures IPO is expected to be finalised on July 29, and the company’s shares are expected to list on the bourses on July 31.