Brigade Hotel Ventures Limited has secured ₹126 crore through a pre-IPO placement round. The company allotted 1.4 crore equity shares to 360 ONE Alternates Asset Management Limited at ₹90 per share (₹10 face value and ₹80 premium). This allotment accounts for 4.74% of the company’s pre-offer shareholding.
As a result of this funding round, the size of Brigade’s upcoming IPO has been reduced to ₹774 crore from the previously planned ₹900 crore.
The funds raised will primarily go toward reducing debt and supporting strategic initiatives. Brigade Hotel Ventures will use approximately ₹481 crore from the net proceeds to repay or prepay certain borrowings—₹412 crore for itself and ₹69 crore for its key subsidiary, SRP Prosperita Hotel Ventures Limited. Additionally, the company will allocate ₹107.52 crore to acquire an undivided share of land from its promoter, Brigade Enterprises Limited (BEL). The remaining funds will support inorganic growth through acquisitions, strategic investments, and general corporate purposes.
Brigade Hotel Ventures operates nine hotels with 1,604 keys across Bengaluru, Mysuru, Chennai, Kochi, and GIFT City. Well-known hospitality brands such as Marriott, AAPC India Hotel Management, and InterContinental Hotels Group (India) operate these properties, which span various categories—upper upscale, upscale, upper midscale, and midscale.
JM Financial and ICICI Securities are serving as the Book Running Lead Managers for the IPO.
This move comes amid heightened activity in India’s hospitality sector, following recent IPOs from Schloss Bangalore (owner of the Leela brand), Juniper Hotels, and Ventive Hospitality, along with the ITC Hotels demerger.
