Brigade Hotel Ventures Limited (“Company”), shall open its Bid/Issue in relation to its initial public offer of Equity Shares (“Issue”) on Thursday, July 24, 2025. The Anchor Investor Bidding Date is one working day prior to Bid/Issue Opening Date, being Wednesday, July 23, 2025. The Bid/Issue Closing Date is Monday, July 28, 2025.
Issue Structure & Pricing
The total Issue size comprises of a fresh issue of equity shares of face value of ₹10 each aggregating up to ₹7596.00 millions. Price Band of the Issue is fixed at Rs. 85/- to Rs 90/- per equity share. (“The Price Band”).
Reservations & Discounts
The Issue includes a reservation of Equity Shares aggregating up to ₹75.96 million for subscription by Eligible Employees (the “Employee Reservation Portion”). A discount of Rs. 3/- per Equity Share is being offered to Eligible Employees bidding in the Employee Reservation Portion (“Employee Reservation Portion Discount”).
The Issue also includes a reservation of Equity Shares aggregating up to ₹303.84 million available for allocation to BEL Shareholders, on a proportionate basis (“BEL Shareholders Reservation Portion”).
The Issue less the Employee Reservation Portion and the BEL Shareholders Reservation Portion is hereinafter referred to as the “Net Issue”.
Bidding Details & Fund Utilization
Bids can be made for a minimum of 166 Equity Shares and in multiples of 166 Equity Shares thereafter. (“Bid Lot”).
The Company proposes to utilize the net proceeds towards:
- Repayment/prepayment, in full or in part, of certain outstanding borrowings amounting to Rs 4681.4 Million (Rs 4136.9 Million by the Company and Rs 544.5 Million by SRP Prosperita Hotel Ventures Limited).
- Payment for land from promoter BEL amounting to Rs 1075.2 Million.
- Pursuing inorganic growth through unidentified acquisitions.
- Other strategic initiatives and general corporate purposes.
Regulatory Compliance & Book Building Process
This Issue is being made in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of SEBI ICDR Regulations, 2018 (as amended).
The Issue is being made through the Book Building Process and in compliance with Regulation 6(2) of the SEBI ICDR Regulations, wherein:
- Not less than 75% of the Net Issue shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”).
- Up to 60% of the QIB Portion may be allocated to Anchor Investors.
- One-third of the Anchor Investor Portion shall be available for Mutual Funds.
Allocation Details for QIBs, NIIs & Retail Investors
- 5% of Net QIB Portion will be available to Mutual Funds.
- Remainder of Net QIB Portion to QIBs including Mutual Funds.
- If Mutual Funds’ demand <5%, the balance will be added to the remaining QIB Portion.
- At least 75% of the Issue must be allotted to QIBs, failing which the application money will be refunded.
Not more than:
- 15% of the Net Issue will be available for Non-Institutional Bidders.
- One-third reserved for applications ₹200,000 to ₹1,000,000.
- Two-thirds reserved for applications >₹1,000,000.
- 10% of the Net Issue will be available for Retail Individual Bidders (RIBs).
ASBA & UPI Mechanism
All potential Bidders (except Anchor Investors) must use the ASBA process by providing bank details or UPI ID.
Anchor Investors are not permitted to use ASBA for the Anchor Investor Portion.
Equity Shares will be allocated on a proportionate basis to:
- Eligible Employees under the Employee Reservation Portion.
- BEL Shareholders under the BEL Shareholders Reservation Portion, subject to valid Bids.
Book Running Lead Managers
JM Financial Limited and ICICI Securities Limited are the Book Running Lead Managers to the issue. Unless otherwise defined herein, all capitalised terms shall have such meaning as ascribed to them in the RHP.
