Latest news with #BrigadeHotelVentures
Time of India
an hour ago
- Business
- Time of India
Brigade Hotel Ventures IPO: Shares trade at 17% GMP ahead of IPO opening. Check details
Brigade Hotel Ventures IPO: In the unlisted market, the company's shares are said to be trading at a grey market premium (GMP) of ₹15–16. Brigade Hotel Ventures IPO: Brigade Hotel Ventures, the hospitality subsidiary of real estate firm Brigade Enterprises, is set to launch its initial public offering (IPO) on Thursday, July 24. The offering consists solely of a fresh issue valued at Rs 759.6 crore, with a price band of Rs 85 to Rs 90 per equity share. Tired of too many ads? Remove Ads Brigade Hotel Ventures IPO details Tired of too many ads? Remove Ads About Brigade Hotel Ventures Pre-IPO placement and investor allocation Brigade Hotel Ventures, the hospitality subsidiary of real estate firm Brigade Enterprises , is set to launch its initial public offering (IPO) on Thursday, July 24. The offering consists solely of a fresh issue valued at Rs 759.6 crore, with a price band of Rs 85 to Rs 90 per equity the unlisted market, the company's shares are reportedly commanding a grey market premium (GMP) of Rs 15-16, hinting at a possible 16.7% listing gain over the IPO's upper price band. However, analysts advise caution as GMPs are speculative and may not reflect actual listing IPO will remain open for bidding until July 28. Investors can apply for a minimum lot size of 166 shares and in multiples thereafter. Share allotment is likely to be finalized on July 29, with the listing tentatively scheduled for July 31 on the BSE and the top end of the price band, the company is estimated to have a post-issue valuation of over Rs 3,400 crore. Since the offer does not include any Offer for Sale (OFS), the full proceeds will be utilized for the company's growth and operational the Rs 759.6 crore being raised, Brigade Hotel Ventures plans to allocate Rs 468.14 crore towards debt repayment. An additional Rs 107.52 crore will be used to acquire a share of land from its parent entity, Brigade Enterprises. The remainder will be used for strategic acquisitions and general corporate a strong brand portfolio, strategic backing from Brigade Enterprises, and a presence in India's key urban markets, Brigade Hotel Ventures is looking to capitalize on investor demand amid a broader revival in the hospitality and tourism in 2004, Brigade Hotel Ventures began its hospitality operations in 2009 with the launch of Grand Mercure Bangalore. The company currently operates nine hotels across cities including Bengaluru, Mysuru, Chennai, Kochi, and Gujarat's GIFT City, offering a total of 1,604 group manages properties under prominent global hospitality brands such as Marriott, Accor, and InterContinental Hotels Group (IHG), lending it credibility and international this month, the company secured Rs 126 crore through a pre-IPO placement to 360 ONE Alternates Asset Management, indicating strong institutional interest in the the total issue size, 75% is earmarked for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for retail investors. JM Financial and ICICI Securities are acting as the book-running lead managers for the IPO.
Economic Times
an hour ago
- Business
- Economic Times
Brigade Hotel Ventures IPO: Shares trade at 17% GMP ahead of IPO opening. Check details
Brigade Hotel Ventures IPO details Live Events About Brigade Hotel Ventures Pre-IPO placement and investor allocation (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Brigade Hotel Ventures, the hospitality subsidiary of real estate firm Brigade Enterprises , is set to launch its initial public offering (IPO) on Thursday, July 24. The offering consists solely of a fresh issue valued at Rs 759.6 crore, with a price band of Rs 85 to Rs 90 per equity the unlisted market, the company's shares are reportedly commanding a grey market premium (GMP) of Rs 15-16, hinting at a possible 16.7% listing gain over the IPO's upper price band. However, analysts advise caution as GMPs are speculative and may not reflect actual listing IPO will remain open for bidding until July 28. Investors can apply for a minimum lot size of 166 shares and in multiples thereafter. Share allotment is likely to be finalized on July 29, with the listing tentatively scheduled for July 31 on the BSE and the top end of the price band, the company is estimated to have a post-issue valuation of over Rs 3,400 crore. Since the offer does not include any Offer for Sale (OFS), the full proceeds will be utilized for the company's growth and operational the Rs 759.6 crore being raised, Brigade Hotel Ventures plans to allocate Rs 468.14 crore towards debt repayment. An additional Rs 107.52 crore will be used to acquire a share of land from its parent entity, Brigade Enterprises. The remainder will be used for strategic acquisitions and general corporate a strong brand portfolio, strategic backing from Brigade Enterprises, and a presence in India's key urban markets, Brigade Hotel Ventures is looking to capitalize on investor demand amid a broader revival in the hospitality and tourism in 2004, Brigade Hotel Ventures began its hospitality operations in 2009 with the launch of Grand Mercure Bangalore. The company currently operates nine hotels across cities including Bengaluru, Mysuru, Chennai, Kochi, and Gujarat's GIFT City, offering a total of 1,604 group manages properties under prominent global hospitality brands such as Marriott, Accor, and InterContinental Hotels Group (IHG), lending it credibility and international this month, the company secured Rs 126 crore through a pre-IPO placement to 360 ONE Alternates Asset Management, indicating strong institutional interest in the the total issue size, 75% is earmarked for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for retail investors. JM Financial and ICICI Securities are acting as the book-running lead managers for the IPO.
Economic Times
a day ago
- Business
- Economic Times
Brigade Hotel Ventures IPO to open on July 24; GMP hints at 18% premium
Brigade Hotel Ventures' Rs 759.6-crore IPO opens on July 24, with strong investor buzz and a 16–17 GMP. Proceeds will go toward debt repayment, land acquisition, and expansion. Backed by Brigade Enterprises, it operates 9 hotels under global brands, targeting growth amid rising travel and tourism demand. Tired of too many ads? Remove Ads IPO Details Tired of too many ads? Remove Ads Use of Proceeds Business Overview Market Interest Tired of too many ads? Remove Ads Brigade Hotel Ventures, the hospitality arm of real estate major Brigade Enterprises , is set to open its initial public offering (IPO) for subscription on Thursday, July 24. The company has fixed a price band of Rs 85–90 per share, with the entire issue comprising a fresh offer worth Rs 759.6 the grey market, Brigade Hotel Ventures' shares are trading at a premium of Rs 16–17, suggesting a potential listing gain of around 18% over the upper end of the price band. However, analysts caution that grey market premiums (GMPs) are speculative and may not always reflect actual listing Read: Paytm stock rallies 122% in one year but still 53% below issue price. Can it reclaim its IPO glory? The IPO will remain open till July 28, with investors allowed to bid for a minimum of 166 shares and in multiples thereafter. The share allotment is expected to be finalised on July 29, and the listing is tentatively scheduled for July 31 on both the BSE and the upper price band, the company would be valued at over Rs 3,400 crore. The issue does not include an Offer for Sale (OFS), meaning the entire proceeds will go towards funding the company's expansion Read: 7 Nifty500 stocks with highest dividend yields. Do you own any? Of the Rs 759.6 crore being raised, Brigade Hotel Ventures plans to use Rs 468.14 crore to repay debt. Another Rs 107.52 crore will go towards acquiring an undivided share of land from its parent company, Brigade Enterprises. The rest will be allocated for strategic acquisitions and general corporate Read: Apollo Tyres, Brigade Enterprises among 10 small-cap stocks trading below industry PE; may rally up to 43% Established in 2004, Brigade Hotel Ventures entered the hospitality space with its first property—Grand Mercure Bangalore—in 2009. The company currently operates nine hotels across cities such as Bengaluru, Mysuru, Chennai, Kochi, and GIFT City in Gujarat, with a total inventory of 1,604 manages properties under well-known international hospitality brands like Marriott, Accor, and InterContinental Hotels Group (IHG), enhancing its operational this month, the company raised Rs 126 crore in a pre-IPO placement from 360 ONE Alternates Asset Management, signalling strong institutional interest ahead of the public IPO will reserve 75% of the offer for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for retail investors. JM Financial and ICICI Securities are acting as the book-running lead managers for the a growing footprint in India's urban hospitality sector, backing from a strong parent, and partnerships with global hotel chains, Brigade Hotel Ventures aims to tap into investor appetite amid a steady recovery in travel and tourism demand.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Mint
a day ago
- Business
- Mint
Brigade Hotel Ventures IPO: Check out 10 key things to know from RHP before investing
Brigade Hotel Ventures IPO date of subscription is scheduled for Thursday, July 24, and will close on Monday, July 28. Brigade Hotel Ventures IPO price band has been set in the range of ₹ 85 to ₹ 90 per equity share of the face value of ₹ 10. Brigade Hotel Ventures has set aside 75% of the shares in its public offering for qualified institutional buyers (QIB), 15% for non-institutional investors (NII), and 10% is designated for retail investors. An allocation of equity shares worth ₹ 75.96 million has been reserved for employees. Additionally, equity shares valued at ₹ 303.84 million have been set aside for shareholders of Brigade Enterprises Ltd (BEL). Brigade Hotel Ventures' initial public offering consists solely of a new issuance of equity shares without any offer-for-sale (OFS) portion. Of the total funds raised, ₹ 468.14 crore is set aside for paying off debts, ₹ 107.52 crore is earmarked for purchasing an undivided share of land from the promoter, BEL, and the rest of the money will be allocated to acquisitions, several strategic initiatives, and general corporate purposes. Brigade Hotel Ventures IPO GMP today is +17. This indicates Brigade Hotel Ventures share price was trading at a premium of ₹ 17 in the grey market, according to Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Brigade Hotel Ventures share price was indicated at ₹ 107 apiece, which is 18.89% higher than the IPO price of ₹ 90. Here are 10 key things from the Red Herring Prospectus (RHP) that investors might want to know before subscribing to the issue. Brigade Enterprises Ltd serves as the promoter of the company. BEL possesses 281,430,000 equity shares with a face value of ₹ 10 each in their company, which accounts for 95.26% of the pre-Issue issued, subscribed, and paid-up equity share capital of the company. 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). Brigade Hotel Ventures specializes in owning and developing hotels in major cities across South India. As of March 31, 2025, they rank as the second-largest owner of chain-affiliated hotels and hotel rooms in South India, which includes the states of Kerala, Andhra Pradesh, Tamil Nadu, Karnataka, Telangana, and the Union territories of Lakshadweep, Andaman and Nicobar Islands, and Pondicherry, among significant private hotel asset owners (those owning at least 500 rooms nationwide), according to the Horwath HTL Report. Their parent company, Brigade Enterprises Limited (BEL), ventured into the hospitality sector in 2004 by launching their first hotel, Grand Mercure Bangalore, which began operations in 2009. The firm boasts a collection of nine active hotels located in Bengaluru (Karnataka), Chennai (Tamil Nadu), Kochi (Kerala), Mysuru (Karnataka), and the GIFT City (Gujarat), totaling 1,604 keys. The firm consists of the following Group Companies: BCV Developers Private Limited; Brigade Flexible Office Spaces Private Limited; Brigade (Gujarat) Projects Private Limited; Brigade Hospitality Services Limited; Brigade Properties Private Limited; Mysore Holdings Private Limited; Perungudi Real Estates Private Limited; SRP Gears Private Limited; Subramanian Engineering Limited; and WTC Trades & Projects Private Limited. The board of the company consists of seven members, including one Managing Director, two Non-Executive and Non-Independent Directors, and four Independent Directors. As of the date of this red herring prospectus, the company has two women serving as Directors on its Board. As of 31 March 2025, India boasts 204,000 hotel rooms affiliated with chains, spread across various segments. The market for independent hotels remains highly fragmented, primarily consisting of midscale or lower-tier establishments. Over the years, the composition of supply has changed, resulting in a more diverse and balanced distribution across segments, with the Luxury-Upper Upscale categories accounting for 33.9% of the supply share, 38.4% for the Upscale - Upper Midscale categories, and 27.7% for the Midscale-Economy segments as of 31 March 2025. The geographic distribution of hotels is also expanding. The share of supply in key markets (Mumbai, Delhi-NCR, Bengaluru, Chennai, Hyderabad, Kolkata, Pune, Ahmedabad, Goa, and Jaipur) has decreased from 69% in Fiscal 2015 to 57% in fiscal 2025, and it is projected to drop to 49% by fiscal 2030; 66% of the expected supply between fiscal 2026 and fiscal 2030 is anticipated to emerge outside these key markets. The company's profit fell by 24%, totaling ₹ 23.7 crore in FY25, down from ₹ 31.14 crore the year before. At the same time, revenue for this period increased by 16.6%, growing to ₹ 468.3 crore from ₹ 401.7 crore. Some of the key risks are as follows; The company has entered into agreements for hotel operator services and related contracts with Marriott, Accor, and InterContinental Hotels Group to obtain operating and marketing support for their hotels. In Fiscal 2025, two hotels managed by Marriott accounted for 43.81% of their operating revenue. If these agreements are canceled or not renewed, it could negatively impact their business, operational results, financial health, and cash flows. The company employs a significant number of staff across its hotels, which may lead to exposure to service-related claims and losses or employee disruptions that could harm their reputation, business, operational results, financial health, and cash flows. The employee turnover rate in Fiscal 2025 was 58.19%. A 90-day lock-in period will apply to 50% of the equity shares allocated to the anchor investors starting from the date of allotment, while a 30-day lock-in will pertain to the other 50% of the equity shares allotted to the anchor investors from the same date of allotment. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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Business Standard
2 days ago
- Business
- Business Standard
Brigade Hotel Ventures to add 960 rooms by FY28, focus on luxury segment
Brigade Hotel Ventures plans to add 960 rooms to its portfolio by FY28, targeting the luxury market. The company also aims to raise Rs 759.6 crore through its IPO, opening on July 24 Listen to This Article Brigade Hotel Ventures, a part of Brigade Group, is expected to add around 960 rooms to its current portfolio of over 1,600 rooms by FY28 and FY29, focusing on expansion through the luxury segment. The hotel asset management company is expected to raise Rs 759.6 crore through its initial public offering (IPO). The IPO will open on July 24 and close on July 28. It comprises fresh issues of shares worth Rs 759.6 crore with a face value of Rs 10 each. The price band of the issue is fixed at Rs 85 to Rs 90 per equity share. 'One
