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Mint
3 days ago
- Business
- 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
6 days ago
- Business
- Mint
Brigade Hotel Ventures IPO booked 0.67 times on Day 01; retail portion oversubscribed
The initial public offering (IPO) of Brigade Hotel Ventures received a healthy response on its first day of bidding, July 24, with investors placing bids for 3.21 crore shares against the total offer of 4.83 crore shares, resulting in an overall subscription of 0.67 times by the end of Day 1, according to exchange data. Retail investors showed strong interest, with their portion subscribed 2.66 times, while the non-institutional investors' portion was booked 0.45 times. The QIB (Qualified Institutional Buyers) portion was subscribed just 0.08 times. Brigade Hotel Ventures aims to raise ₹ 759.60 crore through the IPO, which is entirely a fresh issue of 8.44 crore shares. The IPO lot size is fixed at 166 shares, requiring a minimum investment of ₹ 14,940 for retail investors. The price band for the issue is set between ₹ 85 and ₹ 90 per share. The allotment for the IPO is expected to be finalized on Tuesday, July 29, 2025, and the shares are scheduled to list on both the NSE and BSE, with a tentative listing date of Thursday, July 31. JM Financial Limited is the book-running lead manager to the issue, while Kfin Technologies Limited is acting as the registrar. The company proposed to utilize the proceeds from the IPO for repayment or prepayment, in full or in part, of certain outstanding borrowings availed by the company and its material subsidiary, SRP Prosperita Hotel Ventures Limited. It will also use the funds for payment of consideration for the purchase of an undivided share of land from the promoter, pursue inorganic growth through unidentified acquisitions and other strategic initiatives, and for general corporate purposes. As of today, the grey market premium (GMP) for Brigade Hotel Ventures IPO stands at ₹ 9 per share. This suggests that the shares are anticipated to list at ₹ 9 above their issue price. With this GMP and the IPO's upper price band, the estimated listing price of the shares would be ₹ 99, reflecting a 10% premium. The grey market premium represents the expected difference between an IPO's issue price and its anticipated listing price in the unofficial market. However, it's important to remember that GMP is a preliminary indicator and should not be the sole factor in making investment decisions. Brigade Hotel Ventures Limited is the owner and developer of hotels in key cities in India, primarily across South India. The company is a wholly owned subsidiary of BEL, which is one of the leading Indian real estate developers in India. The company owns chain-affiliated hotels and rooms in South India (comprising the states of Kerala, Andhra Pradesh, Tamil Nadu, Karnataka, and Telangana and the Union territories of Lakshadweep, Andaman and Nicobar Islands, and Pondicherry) among major private hotel asset owners (i.e., owning at least 500 rooms pan India) as of March 31, 2025. The hotels provide a comprehensive customer experience, including fine dining and specialty restaurants, venues for meetings, incentives, conferences, and exhibitions ('MICE'), lounges, swimming pools, outdoor spaces, spas, and gymnasiums. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Mint
21-07-2025
- Business
- Mint
Anthem Biosciences shares make robust debut, list at ₹723.05 on NSE, up 26.85% from IPO price
Anthem Biosciences IPO listing: Shares of Anthem Biosciences made a stellar debut on the bourses on Monday, July 21, listing at ₹ 723.05 on NSE, a premium of 26.85 percent over its IPO price of ₹ 570. Meanwhile, on BSE, it listed at ₹ 723.10, up 26.86 percent from issue price. The initial public offering (IPO), with a total issue size of ₹ 3,395.79 crore, was open for bidding from July 14 to July 16. The offering received an robust response from investors, closing with a subscription of 67.42 times. The IPO attracted bids for 281.49 crore shares compared to the 4.17 crore shares on offer. The retail investor category was subscribed 5.98 times while the non-institutional investor (NII) segment witnessed 44.70 times subscription. Meanwhile, the qualified institutional buyer (QIB) portion was bid the most, 192.80 times. Meanwhile, the employee quota was booked 6.99 times in this period. The IPO was entirely an offer for sale of 5.96 crore shares with no offer-for-sale. The lot size for the IPO was fixed at 26 shares, with the minimum investment for retail investors set at ₹ 14,040. The issue also included a reservation of up to 1,58,653 shares for employees offered at a discount of ₹ 50.00 to the issue price. As the IPO is completely an OFS, the company will not acquire any funds from the offering, and the proceeds will be directed to the selling shareholders. Ahead of the public offering, the company successfully raised ₹ 1,016 crore from anchor investors on July 11. JM Financial Limited was the book-running lead manager for the issue, while Kfin Technologies was its registrar. Founded in 2006, Anthem Biosciences Limited is a technology-led, innovation-centric Contract Research, Development, and Manufacturing Organization (CRDMO) offering end-to-end services across drug discovery, development, and manufacturing. The company caters to a broad global clientele, ranging from emerging biotech startups to leading pharmaceutical giants. Anthem Biosciences is engaged in the production of niche, fermentation-based active pharmaceutical ingredients (APIs), including probiotics, enzymes, peptides, nutritional ingredients, vitamin analogues, and biosimilars. The company's listed peers are Syngene International Ltd (with a P/E of 51.54), Sai Life Sciences Ltd (with a P/E of 92.18), Cohance Lifesciences Ltd (with a P/E of 97.29), and Divi's Laboratories Ltd (with a P/E of 83.22). In the financial year 2024-25, the company reported a 30 percent year-on-year growth in revenue from operations, which rose to ₹ 1,844 crore from ₹ 1,419 crore in FY24. Its profit after tax stood at ₹ 451 crore for the year ended March 31, 2025, reflecting a 23 percent increase compared to the previous year.
Mint
21-07-2025
- Business
- Mint
Anthem Biosciences shares make robust debut, lists at ₹723.05 on NSE, up 26.85% from IPO price
Anthem Biosciences IPO listing: Shares of Anthem Biosciences made a stellar debut on the bourses on Monday, July 21, listing at ₹ 723.05 on NSE, a premium of 26.85 percent over its IPO price of ₹ 570. Meanwhile, on BSE, it listed at ₹ 723.10, up 26.86 percent from issue price. The initial public offering (IPO), with a total issue size of ₹ 3,395.79 crore, was open for bidding from July 14 to July 16. The offering received an robust response from investors, closing with a subscription of 67.42 times. The IPO attracted bids for 281.49 crore shares compared to the 4.17 crore shares on offer. The retail investor category was subscribed 5.98 times while the non-institutional investor (NII) segment witnessed 44.70 times subscription. Meanwhile, the qualified institutional buyer (QIB) portion was bid the most, 192.80 times. Meanwhile, the employee quota was booked 6.99 times in this period. The IPO was entirely an offer for sale of 5.96 crore shares with no offer-for-sale. The lot size for the IPO was fixed at 26 shares, with the minimum investment for retail investors set at ₹ 14,040. The issue also included a reservation of up to 1,58,653 shares for employees offered at a discount of ₹ 50.00 to the issue price. As the IPO is completely an OFS, the company will not acquire any funds from the offering, and the proceeds will be directed to the selling shareholders. Ahead of the public offering, the company successfully raised ₹ 1,016 crore from anchor investors on July 11. JM Financial Limited was the book-running lead manager for the issue, while Kfin Technologies was its registrar. Founded in 2006, Anthem Biosciences Limited is a technology-led, innovation-centric Contract Research, Development, and Manufacturing Organization (CRDMO) offering end-to-end services across drug discovery, development, and manufacturing. The company caters to a broad global clientele, ranging from emerging biotech startups to leading pharmaceutical giants. Anthem Biosciences is engaged in the production of niche, fermentation-based active pharmaceutical ingredients (APIs), including probiotics, enzymes, peptides, nutritional ingredients, vitamin analogues, and biosimilars. The company's listed peers are Syngene International Ltd (with a P/E of 51.54), Sai Life Sciences Ltd (with a P/E of 92.18), Cohance Lifesciences Ltd (with a P/E of 97.29), and Divi's Laboratories Ltd (with a P/E of 83.22). In the financial year 2024-25, the company reported a 30 percent year-on-year growth in revenue from operations, which rose to ₹ 1,844 crore from ₹ 1,419 crore in FY24. Its profit after tax stood at ₹ 451 crore for the year ended March 31, 2025, reflecting a 23 percent increase compared to the previous year. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
