Brigade Hotel Ventures IPO Subscribed 1.27x on Day 2; Retail Bids Soar to 4.96x
By Shishta Dutta | Published at: Jul 25, 2025 07:06 PM IST
Mumbai, July 25, 2025 — The initial public offering of Brigade Hotel Ventures Ltd witnessed robust participation on the second day of bidding, with the overall subscription climbing to 1.27 times. The funds raised from the IPO will be used for repayment, prepayment, or redemption of borrowings availed by the company and its subsidiary, SRP Prosperita Hotel Ventures Limited
The ₹759 crore issue, which opened on July 24, has been strongly backed by retail and shareholder categories, while institutional interest remains modest so far.
Category-Wise Subscription Status (As of Day 2 Close)
| Investor Category | Shares Reserved | Shares Bid For | Subscription (%) |
|---|---|---|---|
| Qualified Institutional Buyers (QIBs) | 2,40,54,000 | 20,62,384 | 0.09× |
| Non-Institutional Investors (NIIs) | 1,20,27,000 | 1,24,18,294 | 1.03× |
| Retail Individual Investors (RIIs) | 80,18,000 | 3,97,38,242 | 4.96× |
| Employee Reservation | 8,73,103 | 5,24,228 | 0.60× |
| Shareholders (Brigade Enterprises Ltd) | 33,76,000 | 64,58,728 | 1.91× |
| Total (Including Anchor Investors) | 4,83,48,103 | 6,12,01,876 | 1.27× |
Price-Wise Demand Consolidation
Bidding interest continues to consolidate at the lower end of the price band, with ₹85 attracting the highest volume of bids:
| Bid Price (₹) | Cumulative Quantity |
|---|---|
| ₹85 | 6,11,02,442 |
| ₹86 | 6,09,56,362 |
| ₹87 | 6,09,36,608 |
| ₹88 | 6,08,95,108 |
| ₹89 | 6,08,67,718 |
| ₹90 (Cap) | 6,08,52,612 |
| Cut-Off | 3,90,38,220 |
Key Observations
- Retail Investors continue to dominate, bidding for nearly 3.97 crore shares, overshooting their allocation by 4.96x.
- Shareholder reservation (BEL shareholders) also saw a strong 1.91x subscription.
- NIIs came in stronger on Day 2, with 103% of their portion already subscribed.
- QIB demand remains low at 9%, though institutional participation typically accelerates on the final day.
IPO Snapshot
| Particulars | Details |
|---|---|
| IPO Open Date | July 24, 2025 |
| IPO Close Date | July 28, 2025 |
| Price Band | ₹85 – ₹90 |
| Lot Size | 166 shares |
| Minimum Investment | ₹14,940 (at upper band) |
| Total Issue Size | ₹759 crore |
| Listing Date | July 31, 2025 |
| Registrar | KFin Technologies Ltd |
| Exchanges | NSE (Designated), BSE |
About Brigade Hotel Ventures Ltd
Brigade Hotel Ventures Ltd, a subsidiary of Brigade Enterprises, owns and manages nine hotels (1,604 keys) across major Indian cities under various brands, including Marriott, Accor, and IHG. It earns revenue from room and F&B sales and owns commercial assets, including WTC Bengaluru and Kochi. With five new hotels planned, including Grand Hyatt Chennai and Ritz-Carlton Kerala, IPO proceeds will fund debt repayment, land buys, and growth. The issue is a fresh offer, marking Brigade’s strategic expansion in branded hospitality.
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