Upcoming IPO: SEBI Approved ₹900 Crore Brigade Hotel Ventures IPO

The capital market regulator, the Securities and Exchange Board of India (SEBI) has given approval to Brigade Hotel Ventures Limited, the second-largest owner of chain-affiliated hotels and rooms in South India among major private hotel asset holders, to raise ₹900 crore via IPO

Brigade Hotel Ventures IPO Details

Brigade Hotel Ventures IPO includes the issuance of fresh Equity Shares with a face value of ₹10 each, amounting to a total of up to ₹900 crores.

Use of IPO Proceeds

The net proceeds from this upcoming IPO will be used for several key purposes, including the repayment or prepayment—either fully or partially—of certain outstanding borrowings by the company and its material subsidiary, SRP Prosperita Hotel Ventures Limited. Additionally, a portion of the funds will be used to acquire an undivided share of land from its parent, Brigade Enterprises.

The company also plans to pursue inorganic growth through potential acquisitions and other strategic initiatives, alongside funding general corporate purposes.

About Brigade Hotel Ventures Limited

A key player in the hospitality industry, Brigade Hotel Ventures specializes in the development and ownership of hotels in prime cities across South India. As a fully owned subsidiary of Brigade Enterprises Limited, one of India’s top real estate developers, the company is known for delivering exceptional hospitality experiences in a range of sectors.

Over the years, Brigade Hotel Ventures has successfully expanded its portfolio, increasing its total number of hotel rooms from 1,474 as of March 31, 2022, to 1,604, according to its Draft Red Herring Prospectus (DRHP).

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