Brigade Hotel Ventures Limited has received the green light from the Securities and Exchange Board of India (SEBI) to proceed with an initial public offering (IPO) aimed at raising ₹900 crores. The funds will primarily be utilized to repay debt, purchase land, and support future growth strategies.
As a subsidiary of Brigade Enterprises Limited, Brigade Hotel Ventures specializes in developing, owning, and operating hotels in key cities across South India. With a growing presence in the hospitality sector, the company has expanded its hotel portfolio, increasing the number of keys from 1,474 in FY22 to 1,604, showcasing its ability to meet the evolving needs of travelers in a competitive market.
The IPO will involve issuing fresh equity shares with a face value of ₹10 each. The proceeds will mainly be used to repay existing borrowings, particularly those of its material subsidiary, SRP Prosperita Hotel Ventures Limited. Additionally, a portion of the funds will be allocated for purchasing an undivided share of land from its parent company, Brigade Enterprises.
Furthermore, Brigade Hotel Ventures plans to pursue inorganic growth opportunities through acquisitions and other strategic initiatives while advancing its overall corporate objectives. The IPO is a significant step in boosting the company’s market position and expanding its footprint in the burgeoning hospitality industry.
