Mumbai: Bengaluru-based Brigade Hotel Ventures has announced a ₹760 crore initial public offering (IPO) opening on July 24. The company is a wholly owned subsidiary of Brigade Enterprises, a listed real estate developer. It develops and leases hotel properties to international hotel chains for long-term leases of 30 to 35 years. Most of the company’s hotel properties are located in South India, with a strong presence in Bengaluru, Mysuru, Coimbatore, Kochi, Hyderabad, Chennai, and one property in GIFT City, Gujarat. The price band for the public issue has been fixed at ₹85 to ₹90 per equity share of ₹10 face value. The entire IPO is a fresh issue of equity shares. Of the net proceeds, ₹468.14 crore will be used to repay borrowings of the company and its subsidiary, SRP Prosperita Hotel Ventures. Another ₹107.52 crore will be paid to promoter Brigade Enterprises for land acquisition. The issue closes on July 28, 2025.
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