Brigade Hotel Ventures IPO Date, Review, Price, Allotment Details
Brigade Hotel Ventures IPO: Brigade Hotel Ventures Limited (BHVL), a wholly-owned subsidiary of Brigade Enterprises, has launched its Initial Public Offering (IPO) in 2025, capturing investor attention in India’s resurging hospitality sector. As the second-largest owner of chain-affiliated hotels in South India, BHVL operates a portfolio of nine hotels with 1,604 keys across Bengaluru, Chennai, Kochi, Mysuru, and GIFT City, partnering with global brands like Marriott, Accor, and InterContinental Hotels Group. This IPO marks a strategic move to capitalize on the growing demand for premium hospitality services in India.
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The IPO aims to raise ₹900 crore through a fresh issue of equity shares, with no Offer for Sale (OFS) component, reflecting the company’s focus on funding growth initiatives. Proceeds will support debt repayment, land acquisition, and inorganic growth through acquisitions, positioning BHVL for expansion in a sector projected to grow at a 9–11% CAGR through FY29. With a strong occupancy rate of 73.29% in FY 2024, surpassing the industry average, BHVL demonstrates operational resilience and market appeal.
Investor enthusiasm is evident, with a pre-IPO placement of ₹126 crore already completed. However, high debt levels and reliance on Bengaluru for revenue are notable risks. This article provides a detailed overview of the Brigade Hotel Ventures IPO, covering dates, price, allotment, financials, and expert insights to guide your investment decisions.
Brigade Hotel Ventures IPO Details
| Particulars | Details |
|---|---|
| IPO Open Date | July 21, 2025 |
| IPO Close Date | July 23, 2025 |
| Allotment Date | July 24, 2025 (Tentative) |
| Listing Date | July 28, 2025 (Tentative) |
| Price Band | ₹190 – ₹201 per equity share (Estimated) |
| Lot Size | 74 shares (Estimated minimum order quantity) |
| Issue Size | ₹900 crore (Fresh Issue: ₹900 crore) |
| Face Value | ₹10 per share |
| Investor Quotas | QIB: 50%, Retail: 35%, HNI: 15% |
| Stock Exchanges | BSE, NSE |
| Lead Managers | ICICI Securities, JM Financial |
| Registrar | KFin Technologies Limited |
Brigade Hotel Ventures IPO Market Lot
The estimated minimum market lot for the Brigade Hotel Ventures IPO is 74 shares, making it accessible for retail investors. At the price band of ₹190 to ₹201 per share, the minimum investment ranges from ₹14,060 to ₹14,874, with higher lots applicable for HNIs.
| Category | Shares | Amount (₹) |
|---|---|---|
| Retail (Minimum) | 74 shares | ₹14,060 – ₹14,874 |
| Retail (Maximum) | 962 shares | ₹182,780 – ₹193,362 |
| Small HNI (Minimum) | 1,036 shares | ₹196,840 – ₹208,236 |
| Big HNI (Minimum) | 5,032 shares | ₹956,080 – ₹1,011,432 |
Brigade Hotel Ventures IPO Dates
The Brigade Hotel Ventures IPO opened for subscription on July 21, 2025, and closed on July 23, 2025. Share allotment is expected to be finalized on July 24, 2025, with refunds and demat credits on July 25, 2025, and listing on BSE and NSE on July 28, 2025.
| Event | Date |
|---|---|
| IPO Open Date | July 21, 2025 |
| IPO Close Date | July 23, 2025 |
| Allotment Finalization | July 24, 2025 (Tentative) |
| Refund Initiation | July 25, 2025 (Tentative) |
| Demat Credit | July 25, 2025 (Tentative) |
| Listing Date | July 28, 2025 (Tentative) |
Promoters of Brigade Hotel Ventures IPO
The promoter of Brigade Hotel Ventures Limited is Brigade Enterprises Limited (BEL), a leading Indian real estate developer. BEL entered the hospitality sector in 2004 with its first hotel, Grand Mercure Bangalore, and continues to provide strategic and financial support to BHVL.
About Brigade Hotel Ventures IPO
Incorporated in 2016, Brigade Hotel Ventures Limited is a Bengaluru-based hospitality company and a wholly-owned subsidiary of Brigade Enterprises. It owns and develops nine hotels with 1,604 keys across South India and GIFT City, operated by global brands like Marriott, Accor, and IHG. With a 73.29% occupancy rate in FY 2024, BHVL leverages an asset-owner model, outsourcing operations to enhance efficiency.
Brigade Hotel Ventures IPO Company Financial Report
BHVL has shown financial improvement, with revenue increasing by 13.6% to ₹404.85 crore in FY 2024 from ₹356.41 crore in FY 2023. The company turned profitable in FY 2024, reporting a profit of ₹31.14 crore compared to a loss of ₹3.09 crore in FY 2023, driven by higher occupancy and operational efficiencies.
| Metric | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|
| Total Revenue | ₹404.85 crore | ₹356.41 crore | ₹294.73 crore |
| Net Profit/Loss | ₹31.14 crore | (₹3.09 crore) | (₹82.70 crore) |
| EBITDA | ₹144.47 crore | ₹126.32 crore | ₹98.15 crore |
| Revenue CAGR (FY22-FY24) | 17.16% | – | – |
Brigade Hotel Ventures IPO Valuation FY2025
Valuation metrics reflect BHVL’s improving financials and growth potential, though the estimated P/E ratio is high due to its recent profitability. The company’s strong RONW and asset-backed model support its valuation.
| Metric | Value |
|---|---|
| Earnings Per Share (EPS) | ₹2.07 (FY 2024) |
| Price-to-Earnings (P/E) | ~91.79 – 97.10 |
| Return on Net Worth (RoNW) | 53% (FY 2024) |
| Net Asset Value (NAV) | ₹3.89 per share |
| Price-to-Book Value (P/BV) | ~48.84 – 51.67 |
| Return on Capital Employed | 22.14% (FY 2024) |
Peer Group Comparison
| Company | P/E Ratio | Market Cap (₹ crore) |
|---|---|---|
| SAMHI Hotels Ltd | 46.25 | 4,320 |
| Brigade Hotel Ventures | ~91.79 – 97.10 | ~3,000 (post-IPO est.) |
Objects of the Issue
- Repayment/prepayment of certain borrowings availed by the company and its subsidiary, SRP Prosperita Hotel Ventures Limited: ₹481 crore.
- Payment for an undivided share of land from promoter, Brigade Enterprises Limited: ₹107 crore.
- Inorganic growth through unidentified acquisitions and strategic initiatives, and general corporate purposes: Remaining funds.
Brigade Hotel Ventures IPO Review
The Brigade Hotel Ventures IPO offers exposure to India’s booming hospitality sector, supported by a 9.9% CAGR in demand for chain-affiliated hotels (FY 2015–2024) and a projected 10.4% CAGR through FY 2029. BHVL’s 73.29% occupancy, 35.7% EBITDA margin, and backing from Brigade Enterprises are strengths. However, high debt, a premium P/E ratio, and revenue dependence on Bengaluru pose risks. Long-term investors with risk tolerance may find it appealing, while conservative investors should monitor post-listing performance.
Brigade Hotel Ventures IPO Registrar
KFin Technologies Limited
Address: Selenium Tower B, Plot 31 & 32, Gachibowli, Financial District, Nanakramguda, Serilingampally, Hyderabad 500032, Telangana
Phone: +91-40-67162222 / 18003094001
Email: bhvl.ipo@kfintech.com
Website: www.kfintech.com
IPO Lead Managers aka Merchant Bankers
- ICICI Securities Limited
- JM Financial Limited
Company Address
Brigade Hotel Ventures Limited
29th & 30th Floor, World Trade Center, Brigade Gateway Campus, 26/1, Dr. Rajkumar Road, Malleswaram Rajajinagar, Bengaluru, Karnataka 560055, India
Phone: +91-80-41379200
Email: investors@bhvl.in
Website: www.bhvl.in
Brigade Hotel Ventures IPO FAQs
Q1: What is the Brigade Hotel Ventures IPO price band?
A: The estimated price band is ₹190 to ₹201 per equity share.
Q2: When will the IPO shares list?
A: The shares are expected to list on July 28, 2025, on BSE and NSE.
Q3: What is the minimum lot size for application?
A: The estimated minimum lot size is 74 shares, costing ₹14,060 to ₹14,874.
Q4: How can I check my allotment status?
A: Visit KFin Technologies’ website or check via BSE, NSE, or brokers like Zerodha.
Q5: What is the Grey Market Premium (GMP)?
A: As of July 12, 2025, the GMP is not yet available, as the grey market has not started.
Conclusion
The Brigade Hotel Ventures IPO presents a compelling opportunity to invest in a leading hospitality player in South India, backed by Brigade Enterprises and global brand partnerships. With strong occupancy, recent profitability, and a favorable industry outlook, BHVL is poised for growth. However, high debt and regional revenue concentration are risks to consider. Investors should review financials and consult advisors before applying.
Disclaimer: Stock market investments involve risks. Read all scheme-related documents carefully. Views are for informational purposes only and not investment advice.
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