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Economic Times
3 days ago
- Business
- Economic Times
Brigade Hotel Ventures IPO subscribed over 1.3x on day 3: GMP signals flat listing
All proceeds from the offer will go towards funding business growth, with no Offer for Sale component. Investors can apply for a minimum of 166 shares, with bids accepted in multiples, until the issue closes on July 28. Share allotment is likely on July 29, with the stock expected to list on both BSE and NSE on July 31. The IPO, pegging the company's valuation at over Rs 3,400 crore at the upper price band, is a pure fresh issue. Tired of too many ads? Remove Ads Brigade Hotel Ventures IPO GMP Brigade Hotel Ventures IPO Details Tired of too many ads? Remove Ads Use of Proceeds Analyst view Brigade Hotel Ventures Business Overview The initial public offering (IPO) of Brigade Hotel Ventures was subscribed 1.34 times as of 10:33 am on Monday, the third and final day of IPO received bids for 6.85 crore shares against 5.11 crore on offer. Retail investors led the demand with a 5.18 times subscription, followed by non-institutional investors (NIIs) at 1.13 times. The qualified institutional buyer (QIB) portion was subscribed to just 8%.In the grey market, Brigade Hotel Ventures shares were trading at a premium of Rs 2, suggesting a modest 2% gain over the upper end of the price band—signalling the possibility of a flat can bid for a minimum of 166 shares and in multiples thereafter before the window closes on July 28. Share allotment is expected on July 29, and the listing is likely on July 31 on both BSE and the upper end of the price band, the company is valued at over Rs 3,400 crore. The IPO is entirely a fresh issue with no Offer for Sale (OFS), meaning the proceeds will be used for business 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 remain divided. Ventura Securities has issued a 'Subscribe' rating, citing the company's premium asset base and strong brand partnerships, while Canara Bank Securities has cautioned about steep valuations, suggesting only long-term investors consider the its strategic presence in South India, premium affiliations, and expansion pipeline, BHVL is well-positioned to ride India's hospitality upcycle. Yet, the subdued grey market premium of 9% and the lofty valuation metrics suggest limited near-term listing in 2004, Brigade Hotel Ventures entered the hospitality sector in 2009 with its first property, Grand Mercure Bangalore. The company currently operates nine hotels across Bengaluru, Mysuru, Chennai, Kochi, and GIFT City in Gujarat, with a total of 1,604 manages properties under global hospitality brands like Marriott, Accor, and InterContinental Hotels Group (IHG), bolstering its brand and operational credibility.: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)
Time of India
23-07-2025
- 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
22-07-2025
- 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)
Time of India
12-05-2025
- Business
- Time of India
BSE shares surge 7% to fresh all-time high as India-Pak ceasefire lifts market sentiment
The surge in the stock came along with a rise in Indian benchmark indices Sensex and Nifty50, which rallied in early trade on Monday following a weekend announcement of a temporary "pause" in hostilities with Pakistan. BSE Ltd shares soared to a new all-time high on Monday following a pause in hostilities between India and Pakistan, boosting investor sentiment and trade volumes. The surge accompanied gains in the Sensex and Nifty50, driven by the temporary ceasefire announcement. BSE's impressive financial performance, including a significant increase in net profit and revenue, further fueled the stock's rise. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads BSE share price performance Amid a boosted investor sentiment and a surge in trade volumes after a pause in hostilities between India and Pakistan, shares of BSE Ltd today rose 7.22% on Monday to their new all-time high of Rs 7,047 on the 9:50 am, the total traded value of the stock stood at Rs 972.87 crore, with a total traded volume of 13.91 lakh shares. The total market capitalisation of the company stood at Rs 95,007.13 surge in the stock came along with a rise in Indian benchmark indices Sensex and Nifty50, which rallied in early trade on Monday following a weekend announcement of a temporary "pause" in hostilities with it should be noted that these gains could be short-lived if border tensions ceasefire between India and Pakistan remained intact on Sunday following intense overnight clashes between the nuclear-armed neighbours. This resulted in a positive sentiment in the Indian markets conflict, the most severe in nearly three decades, erupted on Wednesday when India launched strikes on nine terror sites in Pakistan in response to a prior attack in Kashmir that claimed 26 data shows that over the past year, the shares of BSE surged by 163.77%, significantly outpacing the Nifty50, which gained 8.85%. In the last six months, BSE climbed 51.2%; over the three months, BSE shares advanced 34.76%. For the one-month duration, BSE posted a gain of 23.83%.For the March quarter of FY25, BSE's net profit increased 362% year-on-year (YoY) to Rs 494 crore. Revenue from operations, on the other hand, jumped 75% YoY to Rs 847 company's board has proposed a Rs 5 special dividend to mark BSE's 150th anniversary, along with a regular dividend of Rs 18 per share, bringing the total payout to Rs 23 per record date to determine shareholder eligibility has been fixed as May 14.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
