Bengaluru-based Brigade Hotel Ventures is launching its Initial Public Offering (IPO) with a price range set between Rs 85 and Rs 90 per share. Investors are required to apply for a minimum of 166 shares, with the IPO aiming to raise Rs 759.60 crore through the sale of 8,44,00,000 fresh equity shares. The offering is managed by JM Financial and ICICI Securities. [1]
Brigade Hotel Ventures, a prominent hotel developer in India, focuses primarily on South Indian cities. As of March 31, 2025, the company owns over 500 rooms across the country, partnering with global hospitality giants like Marriott, Accor, and InterContinental Hotels Group. This strategic positioning highlights the company’s influence in India’s competitive hospitality sector. [2]
The company’s recent financial performance shows a net profit of Rs 23.66 crore on a revenue of Rs 470.88 crore for the fiscal year 2024-25, a slight decline from the previous year’s profit of Rs 31.14 crore on Rs 404.85 crore in revenue. With a projected market capitalisation of Rs 3,418.4 crore post-IPO, Brigade Hotel Ventures looks to strengthen its market presence. [3]
Despite its established reputation, the IPO’s grey market premium (GMP) has vanished amid market volatility, suggesting a potentially subdued listing. Initially, the premium was around Rs 17 before the price band announcement. This shift reflects investor caution and the challenging market conditions. [4]
In terms of share allocation, 75% of the IPO is reserved for qualified institutional buyers (QIBs), 15% for non-institutional investors, and 10% for retail investors. Additionally, employees have reserved shares worth Rs 7.6 crore at a discounted rate, while shareholders of Brigade Enterprises have allocated shares worth Rs 30.38 crore. [5]
The IPO has garnered Rs 324.7 crore from anchor investors by allocating 3.6 crore equity shares at Rs 90 each. Analysts have expressed mixed views on the offering, noting the company’s strong performance in southern India and its high debt levels as points of concern. [6]
Key dates to note include the IPO opening, with shares expected to be listed on the BSE and NSE on July 31. The basis of allotment and initiation of refunds will follow shortly, with shares expected to be credited to Demat accounts. [7]
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