Brigade Hotel Ventures IPO to Open on 24 July 2025 With ₹759.60 Crore Fresh Issue Plan

Mumbai, 21 July 2025: Brigade Hotel Ventures Limited has announced the launch of its Initial Public Offering (IPO) with a total issue size of ₹759.60 crore. The public offering consists solely of a fresh issue comprising 8.44 crore equity shares. The IPO opens for subscription on 24 July 2025 and closes on 28 July 2025. Tentative listing on BSE and NSE is scheduled for 31 July 2025.

Listing Timeline Indicates Expedited Post-IPO Process

The basis of allotment is expected to be finalised on 29 July 2025, followed by refund initiation the same day. Shares are likely to be credited to demat accounts by 30 July 2025, ahead of the tentative listing on 31 July 2025.

Price Band Set Between ₹85–₹90 With Multiple Investor Categories

The IPO price band is fixed at ₹85 to ₹90 per share, with a minimum application lot size of 166 shares. This translates to a minimum investment of ₹14,110 for retail participants. For high net-worth categories:

• sNII: 14 lots (2,324 shares) requiring ₹2,09,160
• bNII: 67 lots (11,122 shares) requiring ₹10,00,980
  An employee discount of ₹3 per share is applicable to eligible applicants.

Allocation Structure Distributes Equity Across Investor Classes

The offering will reserve:

• Not less than 75% for Qualified Institutional Buyers (QIBs)
• Not more than 15% for Non-Institutional Investors (NIIs)
• Not more than 10% for Retail Investors (RIIs)

Eligibility under employee and shareholder categories is based on predefined criteria, including shareholding in Brigade Enterprises Limited. Combinations of investor categories such as employee + shareholder, or shareholder + RII, are permitted under specific conditions.

IPO Structure and Key Metrics at a Glance

Hospitality Portfolio Spans South India With Global Operators

Brigade Hotel Ventures Ltd., a wholly-owned subsidiary of Brigade Enterprises Ltd., owns and develops hospitality assets across South India, including locations in Bengaluru, Mysuru, Kochi, Chennai, and GIFT City, Gujarat.

The company operates nine hotels with 1,604 keys, managed by international hospitality brands such as Marriott, Accor, and InterContinental Hotels Group. Facilities include dining, events, spas, and leisure areas.

Financial Results Show Revenue Growth Alongside Net Profit Decline

For the year ending 31 March 2025, Brigade Hotel Ventures Ltd. reported:

• Revenue rose to ₹470.68 crore, from ₹404.85 crore in FY24
• Profit After Tax (PAT) declined to ₹23.66 crore, compared to ₹31.14 crore in FY24
• EBITDA increased to ₹166.87 crore

Market Capitalisation and Ratios Reflect Operational Profile

• Estimated Market Capitalisation: ₹3,418.47 crore
• Return on Capital Employed (ROCE): 13.62%
• Return on Net Worth (RoNW): 30.11%
• PAT Margin: 5.03%
• EBITDA Margin: 35.45%
• Debt-to-Equity Ratio: 7.40
• Price-to-Book Value: 32.26
• Pre-Issue EPS: ₹0.72
• Post-Issue Price-to-Earnings (P/E): 125x

Use of Proceeds Focused on Debt Reduction and Strategic Expansion

• Repayment/prepayment of borrowings (including SRP Prosperita Hotel Ventures Ltd.): ₹468.14 crore
• Acquisition of undivided land share from Brigade Enterprises Ltd. (Promoter): ₹107.52 crore
• Inorganic growth, acquisitions, and general corporate purposes: Remaining funds as required

Shareholding to Decline by Over 21% Post Issue

• Promoter Holding (Pre-Issue): 95.26%
• Promoter Holding (Post-Issue): 74.09%
• Equity Dilution: 21.17%

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