· Price Band fixed at ₹85 per equity share to ₹90 per Equity Share of face value of ₹10 each of Brigade Hotel Ventures Limited (“Equity Shares”)
· Bid /Offer Opening Date is Thursday, July 24, 2025; Bid/ Offer Closing Date is Monday, July 28, 2025
· Bids can be made for a minimum of 166 Equity Shares and in multiples of 166 Equity Shares thereafter
Bengaluru, July 24, 2025: Brigade Hotel Ventures Limited (BHVL), has allotted, 3,60,81,000 Equity Shares to 17 anchor investors and raised ₹ 324.72 crores ahead of company’s proposed IPO at the upper price band of ₹ 90 per equity share with face value of ₹ 10 per share, (including share premium of Rs 80 per equity share).
The anchor book saw participation from a wide variety of marquee investors, including SBI Mutual Fund, Franklin India Mutual Fund, 360 One Mutual Fund, Axis Mutual Fund, Motilal Oswal Mutual Fund, Bandhan Mutual Fund and Edelweiss Mutual Fund to name a few.
Out of the total allocation of 3,60,81,000 Equity Shares to the Anchor Investors, 2,54,88,636 Equity Shares (i.e. 70.64% of the total allocation to Anchor Investors) were allocated to 6 domestic mutual funds through a total of 12 schemes.
The total offer comprises of a fresh issue of equity shares of face value of ₹10 each aggregating up to ₹ 7596.0 million. This issue includes a reservation aggregating up to ₹75.96 million for subscription by eligible employees and a reservation aggregating up to ₹303.84 million, for subscription by Brigade Enterprises Limited (BEL) shareholders. A discount of Rs. 3/- per Equity Share is being offered to Eligible Employees bidding in the Employee Reservation Portion (“Employee Reservation Portion Discount”).
The Company proposes to utilize the net proceeds towards repayment/ prepayment, in full or in part, of certain outstanding borrowings availed by the Company and material subsidiary – SRP Prosperita Hotel Ventures Limited, amounting to Rs 4681.4 Million. The repayment amount will include Rs 4136.9 Million availed by the Company and Rs 544.5 Million by material subsidiary – SRP Prosperita Hotel Ventures Limited. The net proceeds will also be used towards the payment of consideration for buying of undivided share of land from our promoter, Brigade Enterprise Limited (BEL) amounting to Rs 1075.2 Million as well as for pursuing inorganic growth through unidentified acquisitions, other strategic initiatives and general corporate purposes.
JM Financial Limited and ICICI Securities Limited are the Book Running Lead Managers to the issue.
