- Ahead of IPO, Brigade Group acquires a prime 20.19-acre land parcel in the fast-emerging Whitefield–Hoskote corridor of Bengaluru
- Price Band fixed at ₹85-90 per equity share of face value of ₹10 each
- Bid /Issue Closing Date – Monday, July 28, 2025
- The Anchor Investor Bidding Date is Wednesday, July 23, 2025.
- Bids can be made for a minimum of 166 Equity Shares and in multiples of 166 Equity Shares thereafter.
NE BUSINESS BUREAU
AHMEDABAD, JULY 22
Bengaluru-based Brigade Hotel Ventures Limited, a hotel owner and developer in South India, has on Tuesday announced the price band for its upcoming initial public offering (IPO) at ₹85-90 per share. The IPO, valued at ₹759.60 crore, will be available for subscription from Thursday, July 24 to Monday, July 28. Investors can bid for a minimum of 166 shares, and the anchor investor bidding is set to commence on Wednesday, July 23.
The IPO constitutes a fresh issue of equity shares without any offer-for-sale component. Proceeds from the issue will be primarily utilised for debt repayment amounting to ₹468.14 crore, with ₹107.52 crore allocated for acquiring an undivided share of land from the promoter, Brigade Enterprises (BEL). The remaining funds are earmarked for acquisitions, strategic initiatives, and general corporate purposes.
A discount of ₹3 per Equity Share is being offered to Eligible Employees bidding in the Employee Reservation Portion.
Brigade Hotel Ventures boasts a portfolio of nine operating hotels across various locations, including Bengaluru, Chennai, Kochi, Mysuru, and GIFT City, with a total of 1,604 keys. These hotels are managed by renowned global hospitality brands such as Marriott, Accor, and InterContinental Hotels Group.
Brigade Hotel Ventures (BHVL) plans to add five hotels to its portfolio, Managing Director Nirupa Shankar said, “We have five hotels where both land and brand are tied up. We’ve also signed three hotels with Marriott; brands are finalised, but land formalities are being completed. And there’s one more site where we have bought the land but brand tie-up and key count are pending.”
Shankar emphasised that the company’s core strength lies in building and owning hotels. “When we develop from scratch, we can tailor the hotel to the micro market, banquet size, room mix, F&B outlets, working closely with the operator to get the product right.”
Rooms account for around 62 per cent of BHVL’s topline, F&B contributes 32 per cent, while the rest comes from other operating departments. In the last fiscal, topline grew 16-17 per cent, EBITDA grew 15 per cent, while F&B grew 20 per cent, driven by higher banqueting, catering, and corporate meal volumes.
The hotels are typically located in positive demand locations, driven by factors such as high population density, premium neighbourhoods, commercial centres and IT hubs. The average occupancy in Fiscal 2025 was 76.76%, which was higher than the industry annual occupancy in Fiscal 2025 of 64.5%.
Despite a challenging financial year, the company reported a profit decline of 24% to ₹23.7 crore in FY25, down from ₹31.14 crore in the previous year. However, revenue increased by 16.6% to ₹468.3 crore, up from ₹401.7 crore, indicating resilience in its operational performance.
The allocation of shares is expected to be finalised on July 29, with the listing anticipated on the bourses on July 31.
The IPO is being managed by JM Financial and ICICI Securities, who are serving as the book-running lead managers, while Kfin Technologies is acting as the registrar.
Buys prime land in Bengaluru
Ahead of IPO, Brigade Group has acquired a prime 20.19-acre land parcel in the fast-emerging Whitefield–Hoskote corridor of Bengaluru. The outright purchase was completed at a transaction value of ₹588.33 crore through Ananthay Properties Private Limited, a subsidiary of Brigade Enterprises Limited.
Strategically positioned near major IT hubs, industrial corridors, and emerging infrastructure projects, the site will be used for a mixed-use development of 4.2 million sq ft with an estimated Gross Development Value (GDV) of ₹5,200 crore.
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