Brigade Hotel Ventures Limited, a wholly-owned subsidiary of Brigade Enterprises, has secured SEBI approval for its ₹900 crore IPO debut.
The company’s IPO includes a fresh issue of equity shares with a face value of ₹10 each, aggregating up to ₹900 crore. From the proceeds, ₹481 crore will be allocated to debt repayment, and ₹107.5 crore will be utilised towards acquiring undivided share of land from its promoter, Brigade Enterprises, and the remaining will be used for inorganic growth opportunities and other general corporate purposes.
- Read also: Brigade Enterprises PAT up threefold to ₹236 crore for Q3FY25
Brigade Enterprises Limited entered the hotel segment in 2004. Currently, it has a portfolio of nine operating hotels across Bengaluru, Chennai,Kochi, Mysuru, and GIFT City, with a total of 1,604 keys. These hotels are operated by companies such as Marriott, Accor, and InterContinental Hotels Group.
