Ms. Nirupa Shankar, (Managing Director, Brigade Hotel Ventures Limited) addressing the audience at Brigade Hotel Ventures Limited Initial Public Offering.
(L-R): Mr. Anand Natarajan, (Chief Financial Officer, Brigade Hotel Ventures Limited), Mr. Nitin Idnani (Managing Director, JM Financial Limited), Ms. Nirupa Shankar, (Managing Director, Brigade Hotel Ventures Limited, Mr. M. R. Jaishankar (Executive Chairman, Brigade Enterprises Limited), Mr. Vineet Verma, Directors (Brigade Hotel Ventures Limited), Mr. Manoj Agarwal (Chief Operating Officer, Brigade Hotel Ventures Limited), & Mr. Santosh Verma (Business Head, Consumer & Hospitality, ICICI Securities Limited) at the Brigade Hotels press conference to announce their Initial Public Offering
RHP link: https://bhvl.in/wp-content/uploads/2025/07/project-apex-RHP-filing-version.pdf
MUMBAI, 21 JULY, 2025 (GPN): Brigade Hotel Ventures Ltd, owner and developer of hotels in South India, is set to launch its Rs. 749.6 crore initial public offering (IPO) on Thursday, 24 July, 2025. The IPO is scheduled to close on Monday, 28 July 2925, and the one-day bidding for the anchor investor will open on Wednesday, 23 July 2025, according to the red herring prospectus (RHP).The price band for this IPO is set at Rs 85 to Rs 90 per equity share.
Brigade Hotel Ventures’ IPO is entirely a fresh issue of equity shares with no offer-for-sale (OFS) component.
Of the total issue proceeds, Rs. 468.14 crore will be used for debt payment, Rs. 107.52 crore will be utilised for the purchase of an undivided share of land from the promoter, Brigade Enterprises Limited (BEL), and the remaining funds will support acquisitions, other strategic initiatives, and general corporate purposes.The Securities and Exchange Board of India approved the company’s IPO on Feb. 4.The company will seek investments from large domestic and foreign institutions during the anchor round on July 23.
Promoter Brigade Enterprises Ltd.’s equity holding will dilute from 95.26% to 74%. Earlier this month the pre-IPO placement, it was held on July 3. The company raised Rs 126 crore from institutional investors by selling equity shares to 360 ONE Alternates Asset Management Opportunities Fund. The shares were allotted at Rs 90 apiece, effectively lowering the public issue size from the earlier planned Rs 900 crore.
(L-R): Management of Brigade Hotel Ventures Limited, Mr. M. R. Jaishankar (Executive Chairman, Brigade Enterprises Limited) & Ms. Nirupa Shankar, (Managing Director, Brigade Hotel Ventures Limited), at the Brigade Hotels press conference to announce their Initial Public Offering.
Mr. M. R. Jaishankar, Ms. Nirupa Shankar and Mr. Ananda Natarajan
The management team of BHVL comprises -Mr. M. R. Jaishankar, Executive Chairman at Brigade Enterprises Limited; Ms. Nirupa Shankar, Managing Director at Brigade Hotel Ventures Limited; Mr. Ananda Natarajan, Chief Financial Officer at Brigade Hotel Ventures Limited
Brigade Hotel Ventures Ltd. operates as a subsidiary of Brigade Enterprises Ltd (BEL), a real estate firm based in Bengaluru.
BEL ventured into the hospitality sector in 2004 with the launch of its inaugural hotel, Grand Mercure Bangalore, which commenced operations in 2009.
The company has a portfolio of nine operating hotels across Bengaluru (Karnataka), Chennai (Tamil Nadu), Kochi (Kerala), Mysuru (Karnataka) and GIFT City (Gujarat) with 1,604 keys.
These hotels are operated by global marquee hospitality companies, such as Marriott, Accor and InterContinental Hotels Group.
As per the red herring prospectus (RHP), the company’s listed peers are The Indian Hotels Company Limited (with a P/E of 56.06), EIH Limited (with a P/E of 32.20), Chalet Hotels Limited (with a P/E of 136.63), Juniper Hotels Limited (with a P/E of 99.48), Lemon Tree Hotels Limited (with a P/E of 62.04), Samhi Hotels Limited (with a P/E of 62.75), Apeejay Surendra Park Hotels Limited (with a P/E of 42.05), Ventive Hospitality (with a P/E of 115.58), ITC Hotels (with a P/E of 78.20), and Schloss Bangalore Limited (with a P/E of 229.34).
The company’s profit experienced a decline of 24%, amounting to Rs. 23.7 crore in FY25, a decrease from Rs. 31.14 crore the previous year. Meanwhile, revenue for the same period saw an increase of 16.6%, rising to Rs. 468.3 crore from Rs. 401.7 crore.
JM Financial and ICICI Securities are the book-running lead managers to the issue. Brigade Hotel Ventures share price is likely to be listed on BSE and NSE on Thursday, July 31.
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