Brigade Hotel Ventures IPO
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Schedule of Brigade Hotel Ventures
| Issue open date | 24 Jul 2025 |
| Issue close date | 28 Jul 2025 |
| UPI mandate deadline | 28 Jul 2025 (5 PM) |
| Allotment finalization | 29 Jul 2025 |
| Refund initiation | 29 Jul 2025 |
| Share credit | 30 Jul 2025 |
| Listing date | 31 Jul 2025 |
| Mandate end date | 12 Aug 2025 |
| Lock-in end date for anchor investors (50%) | 28 Aug 2025 |
| Lock-in end date for anchor investors (remaining) | 27 Oct 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Brigade Hotel Ventures
Brigade Hotel Ventures (BHVL), a wholly-owned subsidiary of Brigade Enterprises Limited, was incorporated in August 2016 to consolidate the hospitality operations of the Brigade Group. Headquartered in Bengaluru, BHVL owns and develops hotels across key South Indian cities, including Bengaluru, Chennai, Kochi, Mysuru, and GIFT City. As of 2024, the company operates nine hotels with a total of 1,604 rooms, partnering with global hospitality brands such as Marriott, Accor, and InterContinental Hotels Group.
Financials of Brigade Hotel Ventures
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹759.60 crores |
| Fresh Issue | ₹759.60 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Repayment/prepayment of certain outstanding borrowings | 468.14 (61.6%) |
| Payment of consideration for buying of undivided share of land from the Promoter, BEL | 107.52 (14.15%) |
| General corporate purposes | – |
Strengths
- Operates hotels in prime South Indian cities, offering location-driven visibility.
- Partners with established global brands like Marriott, Accor, and IHG.
- Backed by Brigade Enterprises, providing strategic and financial support.
- Operates a growing portfolio of 1,600+ rooms across nine hotels.
Risks
- Significant revenue dependence on the Bengaluru market increases regional exposure.
- High debt levels could impact financial flexibility and margins.
- The hospitality business is cyclical and sensitive to economic downturns.
- Relies on third-party operators, which may affect service consistency.
- Execution risks exist in managing new hotel developments and expansions.
Subscription Figures for Brigade Hotel Ventures
As per media reports (Link), the Grey Market Premium (GMP) of Brigade Hotel Ventures is reported at ₹8 over the IPO price. This metric is not reliable, and to track IPO interest, it is better to check subscription numbers published by exchanges, which are considered more reliable indicators.
Subscription numbers as of 5:00 PM on July 28, 2025:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 240.54 | 1381.49 | 5.74x |
| NII | 120.27 | 243.91 | 2.03x |
| Retail | 80.18 | 547.77 | 6.83x |
| Employees | 8.73 | 8.68 | 0.99x |
| Shareholders | 33.76 | 117.36 | 3.48x |
| Total | 483.48 | 2299.23 | 4.76x |