The public offer, which opened on July 24, received strong investor interest across categories.
The retail investors led the response with a subscription of 6.4 times, while the Qualified Institutional Buyers’ (QIBs) segment was subscribed 5.42 times. The Non-Institutional Investors (NIIs) booked their quota 1.92 times. The employees’ segment was booked 0.94 times.The IPO investors can check the share allotment status on the websites of the NSE, BSE and Kfin Technologies Ltd, the issue registrar.
Steps to check IPO allotment status on BSE
1. Visit the BSE IPO allotment page: https://www.bseindia.com/investors/appli_check.aspx.
2. Select ‘Equity’ as the issue type.
3. Choose ‘Brigade Hotel Ventures’ from the dropdown.
4. Enter your PAN or application number.
5. Click ‘Search’ to view your allotment status.
Steps to check status via Kfin Technologies:
1. Go to the KFintech IPO allotment page: https://ris.kfintech.com/ipostatus/.2. Select any of the Links out of the five options.
3. Select ‘Brigade Hotel Ventures’ from the dropdown menu.
4. Enter your PAN, application number, or DP/Client ID.
5. Click ‘Submit’ to check the status.
The IPO investors can also check the share allotment status on the NSE website using their PAN and Application Number.
Following the IPO allotment, successful applicants will receive shares in their Demat accounts on July 30. Refunds will be processed for the unsuccessful bidders on July 29.
The company’s shares are scheduled to be listed on the BSE and NSE on Thursday, July 31.
IPO details and use of proceeds
The IPO was entirely a fresh issue of 8.44 crore shares worth ₹759.6 crore, with no Offer-for-Sale (OFS) component. The IPO price band was fixed between ₹85 and ₹90 per share.
The company has planned to use the IPO funds entirely for the company’s growth and operational objectives.
Out of the total IPO proceeds of ₹759.6 crore, ₹468.14 crore will be allocated towards the repayment of borrowings, while ₹107.52 crore will be used to acquire a parcel of land from its parent company, Brigade Enterprises. The remaining funds will be utilised for strategic acquisitions and general corporate purposes.
Brigade Hotel Ventures is the second-largest owner of chain-affiliated hotels and hotel rooms in South India, with a portfolio of nine operational hotels across Bengaluru, Chennai, Kochi, Mysuru, and Gujarat’s GIFT City.
Its properties are managed by renowned international hospitality brands such as Marriott, Accor, and InterContinental Hotels Group (IHG). The company benefits from the backing of its parent, Brigade Enterprises, a leading Bengaluru-based real estate developer.
