Brigade Hotel Ventures shares debut at nearly 10% discount to IPO price

South-based hotel chain Brigade Hotel Ventures made a weak stock market debut on Thursday, July 31, listing at a discount on both exchanges. Shares of the company opened at ₹82 on the BSE, down 8.8% from the IPO price. On the NSE, the stock listed at ₹81.10, a sharper discount of ₹8.90 or 9.89%.Ahead of its debut, the grey market showed no premium for the Brigade Hotel Ventures stock, with the GMP flat at zero, reflecting cautious sentiment among speculative investors. However, the listing came in even lower than GMP expectations.

The IPO of Brigade Hotel Ventures

was open for subscription between July 24 and July 28. The company raised ₹759.6 crore through the offering.
The offer included solely a fresh issue valued at ₹759.6 crore, with a price band of ₹85 to ₹90 per equity share.Since the offer does not include any Offer for Sale (OFS), the full proceeds will be utilised for the company’s growth and operational needs.
Brigade Hotel Ventures had already garnered ₹324.7 crore from several institutional investors via anchor book launched on July 23.Out of the ₹759.6 crore being raised from the IPO, Brigade Hotel Ventures plans to allocate ₹468.14 crore towards debt repayment. An additional ₹107.52 crore will be used to acquire a share of land from its parent entity, Brigade Enterprises. The remaining will be used for strategic acquisitions and general corporate expenses.

Company overview

The company is touted to be the second largest owner of chain-affiliated hotels and hotel rooms in South India. Brigade Hotels has a portfolio of nine operational hotels across Bengaluru, Chennai, Kochi, Mysuru and the GIFT City in Gujarat.

The company’s hotels are operated by global marquee hospitality companies such as Marriott, Accor, InterContinental Hotels Group, etc.

Brigade has a strong parentage of Brigade Enterprises, which is a real estate developer based out of Bengaluru. As of July 18, 2025, the total number of keys stands at 1,604.

Brigade Hotel Ventures reported a 24% year-on-year decline in profit after tax for FY25, even as revenues grew 16% to ₹470.7 crore.