Brigade Hotel Ventures IPO Day 1 Live: Brigade Hotel Ventures Ltd, which owns and develops hotels in southern India, is set to launch today, Thursday, July 24, and will run until Monday, July 28. Brigade Hotel Ventures IPO price band has been established at ₹85 to ₹90 per share. At the higher end of this Brigade Hotel IPO price band, the company’s valuation exceeds ₹3,400 crore.
Brigade IPO consists solely of a fresh equity share issue totaling ₹759.6 crore, without any offer-for-sale (OFS) component.
The funds raised through this issue, amounting to ₹468.14 crore, will be directed towards debt repayment; ₹107.52 crore is earmarked for acquiring an undivided share of land from the promoter, BEL; and the remaining capital will be used for acquisitions, additional strategic initiatives, and general corporate needs.
Earlier this month, Brigade Hotel Ventures secured ₹126 crore by offering equity shares to 360 ONE Alternates Asset Management.
Brigade Hotel Ventures Ltd operates as a subsidiary of Brigade Enterprises Ltd (BEL), a real estate firm based in Bengaluru.
BEL ventured into the hospitality sector in 2004 with the establishment of its inaugural hotel, Grand Mercure Bangalore, which began operations in 2009.
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