Brigade Hotel Ventures Limited will open its initial public offering (IPO) of equity shares on July 24, 2025, with the bidding window closing on Monday, July 28, 2025. Anchor Investor Bidding is scheduled for Wednesday, July 23, one working day before the public issue opens.
The IPO comprises a fresh issue of equity shares with a face value of Rs10 each, aggregating up to Rs7596 million, with the price band fixed between Rs85 and Rs90 per share. Eligible employees bidding under the Employee Reservation Portion are offered a Rs3 discount per share, with that portion reserved up to Rs75.96 million.
In addition, Rs303.84 million worth of equity shares will be reserved for BEL shareholders, allocated on a proportionate basis. The balance of the IPO, excluding these reserved portions, constitutes the Net Issue.
Investors can place bids for a minimum of 166 equity shares, and in multiples thereafter. The net proceeds from the IPO will be directed toward the repayment and prepayment of borrowings totaling Rs4681.4 million, including Rs4136.9 million by Brigade Hotel Ventures and Rs544.5 million by its material subsidiary, SRP Prosperita Hotel Ventures Limited. Funds will also be used to purchase an undivided share of land from promoter BEL for Rs1075.2 million, and to support strategic growth initiatives, including unidentified acquisitions, as well as general corporate purposes.
The IPO is being offered under Rule 19(2)(b) of the SCRR and Regulation 31 of SEBI’s ICDR Regulations, using the Book Building Process. A minimum of 75% of the Net Issue is allocated to Qualified Institutional Buyers (QIBs), with up to 60% available to Anchor Investors, one-third of which must go to Mutual Funds if valid bids are received.
Unsubscribed portions within the Anchor category will roll back into the Net QIB Portion. Additionally, 5% of the Net QIB Portion will be reserved for Mutual Funds, with the remainder going to all QIB bidders (excluding Anchor Investors), subject to valid bids at or above the Issue Price. If the 75% QIB threshold isn’t met, the application money will be refunded.
A maximum of 15% of the Net Issue is designated for Non-Institutional Bidders, split between application sizes of Rs200,000–Rs1,000,000 and above Rs1,000,000. 10% of the Net Issue will be allocated to Retail Individual Bidders (RIBs), as per SEBI’s guidelines.
All bidders—except Anchor Investors—must apply through the Application Supported by Blocked Amount (ASBA) process, providing bank account details and UPI ID (for UPI users). Anchor Investors are excluded from bidding via ASBA.
Eligible employees and BEL shareholders will receive proportional allocations based on valid bids at or above the issue price.
