BRIGADE HOTEL VENTURES LIMITED INITIAL PUBLIC OFFERING TO OPEN ON Thursday, July 24, 2025

BRIGADE HOTEL VENTURES LIMITED INITIAL PUBLIC OFFERING TO OPEN ON Thursday, July 24, 2025

·  Price Band fixed at Rs. 85/- to Rs 90/- per equity share of face value of Rs. 10 each (“Equity Shares”)

·  Bid /Issue Opening Date – _Thursday_, July 24, 2025 and Bid/Issue Closing Date – Monday, July 28, 2025

 ·  Anchor Date - The Anchor Investor Bidding Date is one working day prior to Bid/Issue Opening Date, being Wednesday, July 23, 2025.

·      Bids can be made for a minimum of  166 Equity Shares and in multiples of 166 Equity Shares thereafter. 

·      A discount of Rs. 3/- per Equity Share is being offered to Eligible Employees bidding in the Employee Reservation Portion.

 

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.

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”).

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”.

[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 availed by our Company and material subsidiary - SRP Prosperita Hotel Ventures Limited, amounting to Rs 4681.4 Million. The repayment amount will include Rs 4136.9 Million availed by the Company and Rs 544.5 Million by material subsidiary - SRP Prosperita Hotel Ventures Limited.            The net proceeds will also be used towards the payment of consideration for buying of undivided share of land from our promoter, BEL amounting to Rs 1075.2 Million as well as for pursuing inorganic growth through unidentified acquisitions, other strategic initiatives and general corporate purposes.

 

This Issue is being made in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulation, 2018, as amended (“SEBI ICDR Regulations”). The Issue is being made through the Book Building Process and is 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”, and such portion, the “QIB Portion”) provided that our Company in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which at least one-third shall be available for allocation to Mutual Funds, subject to valid Bids being received from Mutual Funds at or above the Anchor Investor Allocation Price, in accordance with the SEBI ICDR Regulations. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion.

Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis only to Mutual Funds and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors) including Mutual Funds, subject to valid Bids being received at or above the Issue Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to QIBs. If at least 75% of the Issue cannot be allotted to QIBs, then the entire application money will be refunded forthwith.