Latest news with #BrigadeHotelVentures'
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)
Economic Times
2 days ago
- Business
- Economic Times
Brigade Hotel Ventures sets IPO price band at Rs 85-90/share
Brigade Hotel Ventures Ltd owner and developer of hotels in South India on Monday fixed a price band of Rs 85-90 per share for its Rs 749.6-crore upcoming Initial Public Offering (IPO). ADVERTISEMENT At the upper end of the price band, the company is valued at over Rs 3,400 crore. The IPO is scheduled to open on July 24 and close on July 28. The one-day bidding for the anchor investor will open on July 23, the company announced. Brigade Hotel Ventures' IPO is entirely a fresh issue of equity shares with no Offer For Sale (OFS) component. Proceeds from the issue to the tune of Rs 468.14 crore will be used for payment of debt; Rs 107.52 crore be utilised for purchase of an undivided share of land from the promoter, BEL; and the remaining funds will support acquisitions, other strategic initiatives, and general corporate purposes. Earlier this month, Brigade Hotel Ventures raised Rs 126 crore by selling equity shares to 360 ONE Alternates Asset Management. ADVERTISEMENT Brigade Hotel Ventures Ltd is a subsidiary of Bengaluru-based real estate company Brigade Enterprises Ltd (BEL). BEL entered into the hospitality business in 2004 with the development of its first hotel Grand Mercure Bangalore, which commenced operations in 2009. ADVERTISEMENT The company has a portfolio of nine operating hotels across Bengaluru (Karnataka), Chennai (Tamil Nadu), Kochi (Kerala), Mysuru (Karnataka) and the GIFT City (Gujarat) with 1,604 keys. The hotels are operated by global marquee hospitality companies such as Marriott, Accor and InterContinental Hotels Group. ADVERTISEMENT The company announced that 75 per cent of the offer size has been set aside for qualified institutional buyers, 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors. JM Financial and ICICI Securities are the book-running lead managers to the issue. Shares of the company are expected to list on the bourses on July 31. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
2 days ago
- Business
- Time of India
Brigade Hotel Ventures' ₹750-crore IPO to open on July 24
NEW DELHI: 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 July 24. The IPO is scheduled to close on July 28, and the one-day bidding for the anchor investor will open on July 23, according to the red herring prospectus (RHP). 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, BEL, and the remaining funds will support acquisitions, other strategic initiatives, and general corporate purposes. Earlier this month, Brigade Hotel Ventures raised Rs 126 crore by selling equity shares to 360 ONE Alternates Asset Management. Brigade Hotel Ventures Ltd is a subsidiary of Bengaluru-based real estate company Brigade Enterprises Ltd (BEL). BEL entered into the hospitality business in 2004 with the development of its first 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. JM Financial and ICICI Securities are the book-running lead managers to the issue. Shares of the company are expected to list on the bourses on July 31.
