Brigade Hotel Ventures IPO: 10 key points to consider as ₹760 crore offer opens for subscription

Brigade Hotel Ventures IPO: Bengaluru-based real estate firm Brigade Enterprises' subsidiary Brigade Hotel Ventures hit the primary market on Thursday, July 24. The price band has been fixed at ₹85 to ₹90 per equity share. The company's shares will list on the stock exchanges on July 31.

On Wednesday, the company mobilised ₹324.72 crore from anchor investors, including SBI Mutual Fund (MF), Axis MF, Motilal Oswal MF, 360 One MF, Bandhan MF, Nuvama MF and Edelweiss MF.

Brigade Hotel Ventures IPO: 10 key points to know

• Brigade Hotel Ventures IPO subscription period: The initial public offering will be live from Thursday, July 24, to Monday, July 28.
• IPO offer structure: It is solely a fresh issuance of 8.44 crore shares aggregating to ₹759.60 crore without an offer-for-sale (OFS) component.
• Brigade Hotel Ventures IPO price band: The price band has been set at ₹85 to ₹90 per share.
• Reservation: The company has set aside 75% of the offer size for qualified institutional buyers, 15% for non-institutional investors and 10% for retail investors.
• Brigade Hotel Ventures IPO lot size: Retail investors can apply for at least 166 shares.
• Objectives: The capital raised will be used for debt repayment of borrowings availed by the firm and its material subsidiary.
• Book-running lead manager and registrar: ICICI Securities and JM Financial are the IPO's book-running lead managers, while KFin Technologies is the registrar.
• Brigade Hotel Ventures IPO allotment date: The basis of allotment is likely to be finalised on July 29.
• Listing date: The listing on the NSE and the BSE will occur on July 31.
• Promoter holding: The company's promoters hold a 95.26% stake, which will be reduced to 74.09% post-issue.

Brigade Enterprises, which is one of the real estate companies in India, debuted in the hospitality business in 2004.

Brigade Hotel Ventures operates nine hotels across Bengaluru (Karnataka), Kochi (Kerala), Mysuru (Karnataka), Chennai (Tamil Nadu), and the GIFT City (Gujarat) with 1,604 keys.

They are operated by hospitality firms such as Accor, Marriott and InterContinental Hotels Group.