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Indian Express
5 minutes ago
- Indian Express
With Rs 3,875 crore, Gurgaon leads Haryana liquor vend auctions that raked in over Rs 14,300 crore
Gurgaon district led Haryana excise department's revenue collection with Rs 3,875 crore, contributing 27 per cent to the state's total of Rs 14,342 crore in liquor vend auctions that concluded in July under the 2025-27 policy, officials said. The figure marks a proportionate rise of 13.25 per cent from the Rs 7,025 crore collected in last year's auctions. The department successfully auctioned all 1,194 retail liquor zones, issuing licenses for 2,388 vends, with each zone allowing two vends per licensee. In the 2024-25 fiscal, liquor vend licences were issued for a one-year term, unlike 22 months this time. 'The auctions concluded in July, a month earlier than last year's August timeline, due to the attractive provisions of the 2025-27 Excise Policy,' said Vinay Pratap Singh, Commissioner, Excise and Taxation. A transparent web portal facilitated high participation, he added. The other top contributors include Faridabad with Rs 1,696 crore or 12 per cent of the total revenue collected, followed by Sonipat (Rs 1,066 crore), Rewari (Rs 654 crore), Hisar (Rs 615 crore), Karnal (Rs 612 crore), and Panipat (Rs 605 crore). Yamuna Nagar's revenue rose to Rs 439.88 crore from Rs 237.81 crore last year, despite low initial participation. Significant year-on-year revenue increases were seen in Bhiwani (23.5%), Fatehabad (21%), Hisar (21%), Kurukshetra (20.5%), Karnal (19%), and Panipat (18%). The Haryana Government has set a revenue target of Rs 14,064 crore under the new excise policy. In 2024-25, the government had collected Rs 12,700 crore against a target of Rs 12,650 crore. 'Prompt and strong action by state law enforcement against criminal elements, under the directions of the Hon'ble Chief Minister, ensured faster auctions and substantially higher revenue,' the commissioner stated. He highlighted that these measures underscored the state's commitment to the safety and security of its residents, contributing to the auction's success. Earlier, the third phase of liquor vend auctions, held on May 31, was a bonanza for the Haryana government's exchequer as bids fetched Rs 1,270.40 crore, exceeding the reserve price of Rs 1,198.90 crore by 5.96 per cent. Bristol Chowk at the city's elite Golf Course Road saw the highest bids at Rs 98.6 crore by G-Town Wines against a reserve (base) price of Rs 94.6 crore. Last year, the same zone had seen the highest bid by the same winning bidder at Rs 48.28 crore against a base price of Rs 36.75 crore. The state excise department had, in that phase, completed the auctions of 50 out of 79 liquor retail zones in Gurgaon (East) under the Excise Policy 2025-27. DLF-3 zone had fetched Rs 63 crore against a reserve price of Rs 60 crore, the second highest in the district. The third highest had been for Shankar Chowk zone, which had gone at the base price of Rs 62 crore. Nawada zone saw winning bids that were 30 per cent higher than the base price, while the same for South City was 25 per cent, followed by American Express on Southern Peripheral Road (24.3% higher), Badshapur (20.9%), Sikohpur and Kankrola (20.5% each), Sohna Road (16.9%), and Banni Square (12%). The excise department allots licences through its zones in Gurgaon, and an allottee can open two vends in the zone with a cap of two to limit monopoly by big businesses. Competition from neighbouring states has increased in recent years because the policy is liberal – compared to other states – and the prices are low, driving many companies to make a foray into the business in Haryana, excise officials had earlier told The Indian Express.
Mint
5 minutes ago
- Mint
Brigade Hotel Ventures IPO day 3 Live: GMP, review to subscription status. Apply or not?
Brigade Hotel Ventures IPO opened for subscription on July 24 and will end on July 28. The IPO received a healthy response from investors as the issue was subscribed over 1.18 times on the second day of bidding, led by strong demand from retail and non-institutional investors. On the second day, the retail portion was subscribed 4.61 times, while the non-institutional investor (NII) segment recorded a 97% subscription. Meanwhile, the qualified institutional buyers (QIB) category saw bids for 8% of its allotted quota. On the third day of bidding, Brigade Hotel Ventures IPO has been subscribed over 1.35 times, as of 10:42 am. The retail portion has been subscribed over 5.22 times, meanwhile NII and QIB have received 1.14 times and 0.08 times subscription. The IPO has received 6,92,58,852 applications, as compared to offered 5,11,93,987 shares. The GMP of Brigade Hotel Ventures IPO has fallen to ₹ 1.5 on Monday, July 28 from ₹ 2 on a day before, as per investorgain. This means that the shares of Brigade Hotel Ventures IPO is trading at a premium of ₹ 1.5 in the grey market. Brigade Hotel Ventures plans to raise ₹ 759.60 crore through its IPO, consisting entirely of a fresh issue of 8.44 crore equity shares. The IPO has a lot size of 166 shares, with a minimum investment requirement of ₹ 14,940 for retail investors. The price band for the offer is set between ₹ 85 and ₹ 90 per share. The allotment is expected to be finalized on Tuesday, July 29, 2025, and the shares are likely to be listed on both the NSE and BSE on Thursday, July 31. JM Financial Limited is serving as the book-running lead manager, while Kfin Technologies Limited is appointed as the registrar for the issue. The company intends to use the IPO proceeds to repay or prepay, either fully or partially, certain borrowings of both the company and its key subsidiary, SRP Prosperita Hotel Ventures Limited. Additionally, the funds will go towards purchasing an undivided share of land from the promoter, supporting inorganic growth through potential acquisitions and strategic initiatives, and for general corporate purposes. Brokerage firm Ventura said that combining brand-driven hospitality with real estate development expertise from its parent BEL, Brigade Hotel Ventures is positioning itself to capture demand in India's growing premium and business hotel segments, while strengthening its balance sheet and operational footprint through this IPO. We recommend 'Subscribe' to Brigade Hotel Ventures Ltd. Meanwhile, brokerage SBI Securities, while giving 'subscribe for long-term' said that the company has a strong financial growth track record of 15.6%/30.0%/73.2% CAGR in Revenue/EBITDA/PAT over FY23-25 respectively. However, the company has a negative Reserves & Surplus of ₹ 196 cr as of Mar'25 due to accumulated losses in the past. Out of the total IPO proceeds of ₹ 760 cr, BHVL will utilize ~ ₹ 468 cr towards debt repayment which will lead to reduction in D/E to below 1.0x from 7.1x currently and improvement in profitability as interest cost saving of ~ ₹ 45 cr will flow through the P&L. Going forward, trends in occupancy levels and ARR of the company will be key monitorable Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
5 minutes ago
- Mint
THIS small-cap power stock hits 10% upper circuit in a weak market; do you own?
Small-cap power stock ACME Solar Holdings hit its 10 per cent upper circuit in intraday trade on the BSE on Monday, July 28, in an otherwise weak market. ACME Solar Holdings share price opened at ₹ 286.65 against its previous close of ₹ 270.25 and surged 10 per cent to hit its upper circuit at ₹ 297.25. Around 10:45 AM, the small-cap stock traded 9.58 per cent higher at ₹ 296.15. Equity benchmark Sensex was 12 points down at 81,451 at that time. (This is a developing story. Please check back for fresh updates.)
