Brigade Hotel Ventures Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹90
Per ShareLot Size
166 Shares
Minimum Investment
₹14,940
Issue Size
₹759.6 Cr
Face Value
₹10
Per ShareIPO Type
Book Building
Retail Quota
10%
QIB Quota
75%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Brigade Hotel Ventures Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
95.26%
Promoter Holding (Post-Issue)
74.09%
Issue Type
Book Building
ISIN
INE03NU01014
About the Company
The Company is an owner and developer of hotels in key cities in India primarily across South India. As of the date of this Red Herring Prospectus, we have a portfolio of nine operating hotels across Bengaluru (Karnataka), Chennai (Tamil Nadu), Kochi (Kerala), Mysuru (Karnataka) and the GIFT City (Gujarat) with 1,604 keys. Its hotels are operated by global marquee hospitality companies such as Marriot, Accor and InterContinental Hotels Group and are in the upper upscale, upscale, upper-midscale and midscale segments (Source: Horwath HTL Report). Its hotels provide a comprehensive customer experience including fine dining and specialty restaurants, venues for meetings, incentives, conferences, and exhibitions, lounges, swimming pools, outdoor spaces, spas, and gymnasiums.
Industry Overview
According to the Horwath HTL Report, future demand in the hospitality industry sector will be driven by diverse domestic and inbound travel needs - business, leisure, MICE, weddings, social events, pilgrimages and other personal travels, political and business delegations and airline crew. As per the World Travel & Tourism Council ("WTTC"), the travel and tourism sector's contribution to India's economy was Rs. 15.7 trillion in calendar year 2022 and Rs. 19.1 trillion in calendar year 2023. Further, as per the WTCC Economic Impact Factsheet released on June 28, 2024, the travel and tourism sector's contribution to India's economy was estimated at Rs. 21.2 trillion for calendar year 2024, and is forecasted at Rs. 43.3 trillion for calendar year 2034, growing at 7.4% CAGR from calendar year 2024 to calendar year 2034 (Source: Horwath HTL Report). Additionally, the Hotel Association of India ("HAI") estimates foreign tourist arrivals ("FTA") to cross 30 million in India by calendar year 2037 and Booking.com and McKinsey estimates around 5 billion domestic visits by calendar year 2030. Further, HAI forecasts 15 billion domestic visits and 100 million FTAs for calendar year 2047. The growth in FTAs is expected to strengthen hotel average daily rates, particularly for upper-tier hotels.
Company History
The Company was incorporated as `Brigade Hotel Ventures Limited' at Bengaluru, Karnataka as a public limited company under the Companies Act, 2013, and a certificate of incorporation was granted by the Deputy Registrar of Companies, Central Registration Centre, on behalf of the jurisdictional Registrar of Companies on August 24, 2016.
Products & Services
- The Company is an owner and developer of hotels in key cities in India primarily across South India.
Growth Strategy
- Expand Operations by Developing New Hotels at Select Locations.
- Focus on Improving Operating Efficiencies and Increase Revenues.
- Expand Portfolio by Way of Opportunistic and Accretive Acquisitions.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a consolidated basis, as reported for FY24 to FY26.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offer of 84,429,103 equity shares of face value of Rs.10 each ("Equity Shares") of Brigade Hotel Vntures Limited ("Company" or "Issue") for cash at a price of Rs. 90.00 per equity share (including a share premium of Rs.80.00 per equity share) ("Issue Price") aggregating to Rs. 759.60 crores (the "Issue") comprising a fresh issue of 84,429,103 equity shares aggregating to Rs. 759.60 crores (the "Fresh issue"). This issue included a reservation of 873,103 equity shares of face value of Rs.10 each (constituting 0.23% of the post issue paid up equity share capital of the company) aggregating to Rs.7.60 crores for subscription by eligible employees (the "Employee Reservation Portion") and a reservation of 3,376,000 equity shares of face value of Rs.10 each (constituting 0.89% of the post issue paid up equity share capital of the company) aggregating to Rs.30.38 crores, for subscription by bel shareholders (as defined hereinafter) (the "bel shareholders reservation portion"). The company, in consultation with the brlms, offered a discount of 3.33% of the issue price, i.e., Rs. 3, to eligible employees bidding in the employee reservation portion ("Employee Discount"). The issue less the employee reservation portion and the bel shareholders reservation portion is hereinafter referred to as the "Net Issue". The issue and the net issue constituted 22.23% and 21.11% of its post-issue paid-up equity share capital, respectively. A pre-ipo placement of equity shares was undertaken by the company, in consultation with the book running lead managers, as permitted under applicable law, aggregating to Rs.126.00 crores ("pre-ipo placement"). The pre-ipo placement was at a price decided by the company, in consultation with the book running lead managers and was completed prior to filing of the red herring prospectus with the roc. The amount raised pursuant to the pre-ipo placement was reduced from the issue, subject to compliance with rule 19(2)(b) of the scrr and the revised issue size aggregated to Rs. 759.60 crores. The pre-ipo placement did not exceed 20% of the size of the issue. The company had appropriately intimated the subscribers to the pre-ipo placement, prior to the allotment pursuant to the pre-ipo placement, that there was no guarantee that the company may proceed with the issue or the issue may be successful and will result into listing of the equity shares on the stock exchanges. further, relevant disclosures in relation to such intimation to the subscribers to the pre-ipo placement was appropriately made in the relevant sections of the red herring prospectus and has been made in the relevant sections of this prospectus. The face value of equity shares is Rs.10 each. The issue price is 9 times the face value of the equity shares. ^A discount of Rs. 3 per equity share was offered to eligible employees bidding in the eligible employee reservation portion.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Strategically located award winning hotels with diversified offerings in the key cities primarily in South India.
- Focus on asset management resulting in operating efficiencies.
- Focus on environmental, social and governance.
- Strong parentage of Brigade Group.
- Well positioned to leverage industry tailwinds.
- The company has entered into hotel operator services agreements and other related agreements with Marriott, Accor and InterContinental Hotels Group to receive operating and marketing services for its hotels. In Fiscal 2025, two of its hotels which are operated by Marriott contributed 43.81% of the company revenue from operations. If these agreements are terminated or not renewed, its business, results of operations, financial condition and cash flows may be adversely affected.
- A significant portion of its revenues is derived from the company four hotels located in Bengaluru (Karnataka) (63.21% of revenue from operations in Fiscal 2025 was from its hotels located in Bengaluru (Karnataka)). Further, the company derives a significant portion of its revenues from the company hotels Sheraton Grand Bangalore at Brigade Gateway, Holiday Inn Chennai OMR IT Expressway and Holiday Inn Bengaluru Racecourse (62.02% of the revenue from operations was from these hotels in Fiscal 2025). Any adverse developments affecting such hotels or locations could have an adverse effect on its business, financial condition, cash flows and results of operations.
- The company intend to develop five additional hotels and if the company is unable to develop these hotels in a timely manner, its business, results of operations, financial condition and cash flows will be adversely affected.
- The Company has incurred losses (on a consolidated basis) in Fiscal 2023. In the event the company incur net loss in the future, its business, results of operations, financial condition and cash flows may be adversely affected.
- Its operations entail certain recurring expenses, and the company inability to manage expenses may have an adverse effect on its business, results of operations, financial condition and cash flows.