·         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.

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The IPO comprises of a fresh issue of equity shares bearing face value of ₹2 each aggregating up to ₹ 2600 Crores. The company proposes to utilise the Net Proceeds towards an investment in TEC Abu Dhabi, a direct subsidiary, to finance part-payment of the consideration for the acquisition of TEC SGP and TEC Dubai, two step-down subsidiaries currently held by one of the company’s Corporate Promoters, TEC Singapore. This transaction is being carried out in accordance with the terms of the Internal Restructuring Agreement. The remaining proceeds will be allocated towards general corporate purposes.

Executive Centre India Limited is one of the early international brands to lead the offering of premium flexible workspace solutions amongst the flexible workspace operators currently operating in India. The Company has been operating in India since 2008 and is a part of the TEC Group, which has over three decades of experience in delivering space-as-a-service. The company is an India-based operator with pan-Asia operations, spread across India, Singapore, the Middle East comprising Dubai and Abu Dhabi in the United Arab Emirates, rest of Asia comprising Jakarta in Indonesia, Ho Chi Minh City in Vietnam, Manila in Philippines and Colombo in Sri Lanka.

The company primarily leases bare shell properties, designs, builds and transforms it into fully managed, tech-enabled, modern and aesthetically pleasing office spaces within Grade A office buildings from landlords across these markets. These are then operated as premium flexible workspaces for their diverse customer base, including multinational corporations, small and medium enterprises and other legal entities, which occupy workstations in the operational centers towards our serviced office solutions. Serviced Office Solutions comprise private offices and managed solutions. As of March 31, 2025, 80 of our 89 operational centers had private offices across all markets and six operational managed solutions located in India and the Middle East. As of March 31, 2025, the total portfolio comprised 89 operational centers across 14 cities in seven countries.

The company has developed long-term and mutually beneficial relationships with landlords, including Earnest Towers Private Limited, Panchshil Corporate Park Pvt Ltd, Prestige Estates Projects Limited, RMZ, Sattva Group, Dubai World Trade Centre LLC, Alborz Developers Limited a subsidiary of Bharti Realty (Worldmark), Overseas Realty (Ceylon) PLC, MSR Developer and Olympia Tech Park.

In Fiscal 2025, the company served a diverse client base of over 1,550 unique clients comprising MNCs, marquee brands and small and medium-sized enterprises. Some marquee clients include Anaplan Middle East Ltd, ArcelorMittal Nippon Steel India, Atyeti IT Services Private Limited, BBVA, Indian School of Business, Hines, Sandvik, Criteo, Crunchyroll, GreenOak India Investment Advisors Private Limited, Mast-Jaegermeister Services (India) Private Limited, Northland Controls India Private Limited, Ortholite India Pvt Ltd, The Trade Desk India Pvt Ltd, Truecaller, Zscaler, Open Text and National Payments Corporation of India.

The net revenue retention rate was 120.33% and 123.92% in FY25 and FY24, respectively, reflecting the company’s ability to retain and expand the Client base. In FY25, they served over 1,200 MNC clients, with an average of 24 workstations per MNC Client and an average MNC Client tenure of 50.46 months.

The company’s focus on unit-level economics which has enabled them to endure market fluctuations and maintain financial stability over the long term, while also achieving revenue growth and generating net cash flow from operating activities during FY23 and FY25. Further, in FY24, the revenue per square foot in India was the highest amongst Benchmarked Peers in India and maintained the highest operational occupancy. The Clients typically remain for multiple contract periods, as evidenced by the average tenure of Clients of 48.97 months, which exceeded the typical lock-in period of license agreement with Clients of 20.95 months as of March 31, 2025. For the new operational centres between FY23 and FY25, the average pre-sale occupancy was 64.33% across all markets.

For the financial year ended March 31, 2025, the company reported a total income of ₹1346.397 Crores, marking a 27.58% increase from ₹1055.319 Crores in FY24. In FY24, the total income had grown by 36.68% over the previous year’s ₹772.112 Crores. Revenue from operations stood at ₹1322.643 Crores in FY25, reflecting a 27.59% growth over ₹1036.620 Crores recorded in FY24, which itself had grown by 35.79% compared to ₹763.389 Crores in FY23. The company’s EBITDA also showed a steady rise, reaching ₹713.329 Crores in FY25, up from ₹583.548 Crores in FY24 and ₹468.030 Crores in FY23.

Kotak Mahindra Capital Company Limited, ICICI Securities Limited and Nomura Financial Advisory and Securities (India) Private Limited are the Book Running Lead Managers to the issue.

The post Executive Centre India Limited files DRHP with SEBI, plans to raise Rs 2,600 crore through a fresh issue of equity shares appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

The 30-share BSE benchmark index was trading 141.62 points higher at 59,983.83 in early deals. Soon, it jumped to 60,008.11 points, higher by 165.9 points.
The broader NSE Nifty climbed 48.25 points to 17,873.50 points.

From the Sensex pack, NTPC, Hindustan Unilever, Bajaj Finance, Asian Paints, UltraTech Cement, Reliance Industries and Bajaj Finserv were the biggest gainers.
at 60,149 points, up 0.5 per cent from Tuesday’s closing. Sensex last touched 60,000 mark in early April.
The latest bull run in Indian stocks has been continuing for the past five weeks on a trot.

Till early July, Foreign Portfolio Investors (FPIs) were consistently selling equities in the Indian markets for the past nine-to-ten months due to various reasons, including tightening of monetary policy in advanced economies, rising demand for the dollar and high returns from US bonds. They have pulled out Rs 202,250 crore so far in 2022, NSDL data showed.

Sensex

In July, they were, however, the net buyer with a total purchase of equities worth Rs 4,989 crore. So far in August, they bought equities worth another Rs 22,453 crore, data showed.

“Declining US inflation, confidence that the Fed need not have to aggressively raise rates and the increasing probability of a soft landing of the US economy are supporting this rally. In India, steadily declining inflation, strong growth momentum in the economy and FIIs turning consistent buyers are driving the rally,” said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Meanwhile, benchmark indices – Sensex and Nifty – rose nearly 10-11 per cent during the ongoing rally on a cumulative basis, thereby recovering largely the entire losses they witnessed so far in 2022.

Notably, the ongoing rally has made Indian stocks investors richer by around Rs 25 trillion. The all-India market capitalization rose from Rs 25,319,892 crore on July 11 to Rs 27,792,290 till last updated on Tuesday

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The S&P BSE Sensex and NSE Nifty 50 indices recovered from intraday low levels led by gains in ICICI Bank, Infosys, Kotak Mahindra Bank, Reliance Industries, Axis Bank and Maruti Suzuki. The S&P BSE Sensex index moved in a range of 244.25 points, between 37,244.34 and 37,000.09, as against its earlier close of 37,104.28. The broader NSE Nifty benchmark rose as much as 41.05 points to hit 11,023.85 at the day’s strongest level, and declined as much as 78.1 points from that mark to 10,945.75. Government data on Thursday showed growth in industrial production was at 4.3 per cent in July, as against 2 per cent the previous month. Meanwhile, separate data showed that inflation rose to a 10-month high of 3.21 per cent in August. Analysts say the latest macroeconomic data leaves room for a rate cut in the Reserve Bank of India’s next bi-monthly review due in October.

Meanwhile,Consumer price inflation is likely to inch up further in the coming months. It would however continue to be within the RBI’s target. Industrial production (IIP) growth has come higher than market expectations and is a good sign, though capital and durable goods performance has not been good,” credit ratings agency CARE said in a note. 

“Food price inflation needs to watched for as there is potential for higher prices in the coming months and the kharif output will hold the clue… For the rest of the financial year we expect policy rates to be cut by another 40 bps,” the agency added.

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