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.
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.