Brigade Hotel Ventures files draft IPO papers with Sebi to raise Rs 9 Bn

04 Nov 2024 CW Team

Brigade Hotel Ventures Ltd, a prominent hotel owner and developer in South India, has submitted draft papers to the Securities and Exchange Board of India (Sebi), seeking to raise Rs 9 billion via an initial public offering (IPO). As outlined in the draft red herring prospectus, the IPO will comprise solely a fresh issue of equity shares, with no Offer-for-Sale component.

The company plans to allocate Rs 4.81 billion from the proceeds to settle debt, with Rs 4.12 billion directed to the company itself and Rs 690 million designated for its material subsidiary, SRP Prosperita Hotel Ventures Ltd. Furthermore, Rs 1.07 billion will fund the purchase of an undivided share of land from its promoter, Brigade Enterprises Ltd (BEL), while the remaining funds will support acquisitions, other strategic initiatives, and general corporate purposes. There is a possibility that the company may raise up to Rs 1.8 billion through a Pre-IPO Placement, which would reduce the IPO size if undertaken.

A wholly-owned subsidiary of BEL, one of India’s leading real estate developers, Brigade Hotel Ventures Ltd entered the hospitality industry in 2004, establishing its first hotel, Grand Mercure Bangalore, which became operational in 2009. The company now manages a portfolio of nine hotels across Bengaluru, Chennai, Kochi, Mysuru, and GIFT City, offering a total of 1,604 rooms. These hotels are operated under renowned global brands, including Marriott, Accor, and InterContinental Hotels Group. JM Financial and ICICI Securities are the book-running lead managers for the IPO.

Resources

09 Mar 2026

Haworth India Hosts Women’s Leadership Panel Series

Haworth India marked International Women’s Day by hosting a leadership roundtable series titled ‘Give to Gain’, bringing together senior women leaders from architecture and design firms, corporates and project management consultancies. The series has been conducted in Delhi and Mumbai, with upcoming sessions scheduled in Bengaluru and Hyderabad on 27 March 2026. Structured as moderated panel discussions followed by audience interaction, the initiative examined the business impact of women’s leadership and the role of inclusive workplaces in supporting professional growth. Manish Khan..

Max Estates Secures RERA For Max One Project

Max Estates has secured RERA approval (UPRERA No.: UPRERAPRJ9759) for its Max One development around Max Towers in Sector 16B, Noida, bringing renewed progress to a project previously stalled following the insolvency of its earlier developer. Spread across around 10 acres with an estimated development potential of about 2.5 million sq ft, Max One is planned as an integrated mixed-use campus combining serviced residences, premium offices, retail spaces and a private club. The project is expected to generate total sales potential of about Rs 20 billion along with an estimated annuity rental inc..

Hindware Introduces Starc Smart Wall Mount Toilet

Hindware has introduced the Starc Smart Wall-Mount Toilet under its Hindware Italian Collection, designed to combine automation, hygiene and contemporary bathroom aesthetics. The model features automatic flushing, sensor-based seat opening and closing, and remote-controlled functions. It also includes an oscillating water spray and warm air dryer for cleaning, along with a self-cleaning nozzle designed to maintain hygiene. Additional features include adjustable heated seating, customisable water temperature and pressure settings, a foot-touch flush system and an LCD control interface. The wa..