Brigade Hotel Ventures Ltd Eyes Rs 760 Crore IPO With Strong South India Presence
Brigade Hotel Ventures Ltd is launching a Rs 760 crore IPO this week with shares priced between Rs 85-90. The Bengaluru-based hospitality firm, boasting nine hotels in South India, plans to use the funds for debt repayment, land acquisition, and strategic initiatives. Revenue stands at Rs 468.25 crore for 2024-25.
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Brigade Hotel Ventures Ltd, a subsidiary of the prominent real estate company Brigade Enterprises Ltd, is set to launch a public issue valued at Rs 760 crore, marking a significant milestone in its growth trajectory.
With a stronghold in the South Indian hospitality market, owning nine hotels with 1,604 keys, the company has strategically priced its IPO shares between Rs 85 and Rs 90. The IPO aims to open for subscription from July 24-28, valuing the firm at over Rs 3,400 crore at the top end.
The funds raised will largely be allocated to debt repayment, land acquisition, and support for future strategic opportunities, reinforcing Brigade's commitment to expanding its hospitality footprint.
(With inputs from agencies.)
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