Brigade Hotel Ventures Ltd. has fixed the price band of its forthcoming Initial Public Offering (IPO) at ₹85 to ₹90 per equity share. The IPO will open on Thursday, July 24, 2025 and close on Monday, July 28, 2025.
The total Issue size comprises a fresh issue of equity shares of face value of ₹10 each aggregating up to ₹759.6 crore. Bids can be made for a minimum of 166 equity shares and multiples of 166 shares thereafter. A discount of ₹3 is being offered to eligible employees in the Employee Reservation Portion.
The company proposes to utilise the net proceeds towards repayment/ prepayment, in full or in part, of certain outstanding borrowings availed by the company and material subsidiary – SRP Prosperita Hotel Ventures Ltd amounting to ₹468.1 crore. The repayment amount will include ₹413.7 crore availed by the company and ₹54.4 crore by material subsidiary – SRP Prosperita Hotel Ventures Ltd.
The net proceeds will also be used towards the payment of consideration for buying of undivided share of land from our promoter, BEL amounting to ₹107.5 crore as well as for pursuing inorganic growth through unidentified acquisitions, other strategic initiatives and general corporate purposes.
Published – July 21, 2025 10:33 pm IST