Brigade Hotel Ventures IPO
Live Updates, GMP, Subscription Data, and Financial Details
IPO Overview
Listed
Dates
Jul 24 to Jul 28 2025
Price Band
₹90
Current GMP
₹81.10(-9.89%)
Subscription
4.76 times
IPO Details
| IPO Date | July 24, 2025 to July 28, 2025 |
| Listing Date | July 31, 2025 |
| Face Value | ₹10 per share |
| Issue Price | ₹90 per share |
| Lot Size | 166 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 8,44,00,000 shares (aggregating up to ₹759.60 Cr) |
| Employee Discount | ₹3.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 29,54,30,000 shares |
| Share Holding Post Issue | 37,98,30,000 shares |
IPO Date
July 24, 2025 to July 28, 2025
Listing Date
July 31, 2025
Face Value
₹10 per share
Issue Price
₹90 per share
Lot Size
166 Shares
Sale Type
Fresh Capital
Total Issue Size
8,44,00,000 shares (aggregating up to ₹759.60 Cr)
Employee Discount
₹3.00
Issue Type
Bookbuilding IPO
Listing At
BSE, NSE
Share Holding Pre Issue
29,54,30,000 shares
Share Holding Post Issue
37,98,30,000 shares
IPO Subscription Details
| Anchor Investors | 1 |
| Qualified Institutions | 5.74 |
| Non-Institutional Buyers | 2.03 |
| bNII (bids above ₹10L) | 1.67 |
| sNII (bids below ₹10L) | 2.74 |
| Retail Investors | 6.83 |
| Employees | 0.99 |
| Shareholders | 3.48 |
| Total ** | 4.76 |
Anchor Investors
1
Qualified Institutions
5.74
Non-Institutional Buyers
2.03
bNII (bids above ₹10L)
1.67
sNII (bids below ₹10L)
2.74
Retail Investors
6.83
Employees
0.99
Shareholders
3.48
Total **
4.76
Day Wise Sub
| Day | QIB | NII | NII (> ₹10L) | NII (< ₹10L) | Retail | EMP | Shareholders | Total |
|---|---|---|---|---|---|---|---|---|
| Day 1 Jul 24, 2025 | 0.08 | 0.45 | 0.31 | 0.72 | 2.66 | 0.31 | 0.96 | 0.67 |
| Day 2 Jul 25, 2025 | 0.09 | 1.03 | 0.74 | 1.62 | 4.96 | 0.60 | 1.91 | 1.27 |
| Day 3 Jul 28, 2025 | 5.74 | 2.03 | 1.67 | 2.74 | 6.83 | 0.99 | 3.48 | 4.76 |
DayDay 1
Jul 24, 2025
QIB0.08
NII0.45
NII (> ₹10L)0.31
NII (< ₹10L)0.72
Retail2.66
EMP0.31
Shareholders0.96
Total0.67
DayDay 2
Jul 25, 2025
QIB0.09
NII1.03
NII (> ₹10L)0.74
NII (< ₹10L)1.62
Retail4.96
EMP0.60
Shareholders1.91
Total1.27
DayDay 3
Jul 28, 2025
QIB5.74
NII2.03
NII (> ₹10L)1.67
NII (< ₹10L)2.74
Retail6.83
EMP0.99
Shareholders3.48
Total4.76
Day Wise GMP
| Date | Price | GMP | Estimate List Price |
|---|---|---|---|
| 31-07-2025 | 90.00 | 0(0.00%) | 90 |
| 30-07-2025 | 90.00 | 0(0.00%) | 90 |
| 29-07-2025 | 90.00 | 0(0.00%) | 90 |
| 28-07-2025 | 90.00 | 0(0.00%) | 90 |
| 27-07-2025 | 90.00 | 2(2.22%) | 92 |
| 26-07-2025 | 90.00 | 2(2.22%) | 92 |
| 25-07-2025 | 90.00 | 5(5.56%) | 95 |
| 24-07-2025 | 90.00 | 6(6.67%) | 96 |
| 23-07-2025 | 90.00 | 8(8.89%) | 98 |
| 22-07-2025 | 90.00 | 16(17.78%) | 106 |
| 21-07-2025 | 90.00 | 17(18.89%) | 107 |
| 20-07-2025 | 0(0.00%) | (0.00%) | |
| 19-07-2025 | 0(0.00%) | (0.00%) | |
| 18-07-2025 | 0(%) | (%) |
Date31-07-2025
Price90.00
GMP0(0.00%)
Estimate List Price90
Date30-07-2025
Price90.00
GMP0(0.00%)
Estimate List Price90
Date29-07-2025
Price90.00
GMP0(0.00%)
Estimate List Price90
Date28-07-2025
Price90.00
GMP0(0.00%)
Estimate List Price90
Date27-07-2025
Price90.00
GMP2(2.22%)
Estimate List Price92
Date26-07-2025
Price90.00
GMP2(2.22%)
Estimate List Price92
Date25-07-2025
Price90.00
GMP5(5.56%)
Estimate List Price95
Date24-07-2025
Price90.00
GMP6(6.67%)
Estimate List Price96
Date23-07-2025
Price90.00
GMP8(8.89%)
Estimate List Price98
Date22-07-2025
Price90.00
GMP16(17.78%)
Estimate List Price106
Date21-07-2025
Price90.00
GMP17(18.89%)
Estimate List Price107
Date20-07-2025
Price
GMP0(0.00%)
Estimate List Price(0.00%)
Date19-07-2025
Price
GMP0(0.00%)
Estimate List Price(0.00%)
Date18-07-2025
Price
GMP0(%)
Estimate List Price(%)
IPO Important Dates
| IPO Open Date | Thu, Jul 24, 2025 |
| IPO Close Date | Mon, Jul 28, 2025 |
| Tentative Allotment | Tue, Jul 29, 2025 |
| Initiation of Refunds | Tue, Jul 29, 2025 |
| Credit of Shares to Demat | Wed, Jul 30, 2025 |
| Tentative Listing Date | Thu, Jul 31, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on July 28, 2025 |
IPO Open Date
Thu, Jul 24, 2025
IPO Close Date
Mon, Jul 28, 2025
Tentative Allotment
Tue, Jul 29, 2025
Initiation of Refunds
Tue, Jul 29, 2025
Credit of Shares to Demat
Wed, Jul 30, 2025
Tentative Listing Date
Thu, Jul 31, 2025
Cut-off time for UPI mandate confirmation
5 PM on July 28, 2025
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 166 | ₹14,940 |
| Retail (Max) | 13 | 2,158 | ₹1,94,220 |
| S-HNI (Min) | 14 | 2,324 | ₹2,09,160 |
| S-HNI (Max) | 66 | 10,956 | ₹9,86,040 |
| B-HNI (Min) | 67 | 11,122 | ₹10,00,980 |
ApplicationRetail (Min)
Lots1
Shares166
Amount₹14,940
ApplicationRetail (Max)
Lots13
Shares2,158
Amount₹1,94,220
ApplicationS-HNI (Min)
Lots14
Shares2,324
Amount₹2,09,160
ApplicationS-HNI (Max)
Lots66
Shares10,956
Amount₹9,86,040
ApplicationB-HNI (Min)
Lots67
Shares11,122
Amount₹10,00,980
Financial Information
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 947.57 | 886.78 | 840.67 |
| Revenue | 470.68 | 404.85 | 356.41 |
| Profit After Tax | 23.66 | 31.14 | -3.09 |
| EBITDA | 166.87 | 144.61 | 113.98 |
| Net Worth | 78.58 | 58.74 | 33.81 |
| Total Borrowing | 617.32 | 601.19 | 632.50 |
Period EndedPeriod Ended
31 Mar 202531 Mar 2025
31 Mar 202431 Mar 2024
31 Mar 202331 Mar 2023
Period EndedAssets
31 Mar 2025947.57
31 Mar 2024886.78
31 Mar 2023840.67
Period EndedRevenue
31 Mar 2025470.68
31 Mar 2024404.85
31 Mar 2023356.41
Period EndedProfit After Tax
31 Mar 202523.66
31 Mar 202431.14
31 Mar 2023-3.09
Period EndedEBITDA
31 Mar 2025166.87
31 Mar 2024144.61
31 Mar 2023113.98
Period EndedNet Worth
31 Mar 202578.58
31 Mar 202458.74
31 Mar 202333.81
Period EndedTotal Borrowing
31 Mar 2025617.32
31 Mar 2024601.19
31 Mar 2023632.50
Peers Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) |
|---|---|---|---|---|---|
| Brigade Hotel Ventures Limited | 0.72 | 0.72 | 2.79 | 125.00 | 30.11 |
| The Indian Hotels Company Limited | 13.40 | 13.40 | 87.22 | 56.06 | 16.42 |
| Eih Limited | 11.82 | 11.82 | 75.86 | 32.20 | 16.23 |
| Chalet Hotels Limited | 6.53 | 6.52 | 139.42 | 136.63 | 4.68 |
| Juniper Hotels Limited | 3.20 | 3.20 | 122.55 | 99.48 | 2.61 |
| Lemon Tree Hotels Limited | 2.48 | 2.48 | 22.59 | 62.04 | 13.59 |
| Samhi Hotels Limited | 3.88 | 3.84 | 51.63 | 62.75 | 7.49 |
| Apeejay Surrendra Park Hotels Limited | 3.92 | 3.92 | 60.17 | 42.05 | 6.51 |
| Ventive Hospitality Limited | 6.83 | 6.83 | 252.88 | 115.58 | 0.82 |
| Itc Hotels Limited | 3.05 | 3.05 | 51.55 | 78.20 | 5.94 |
| Schloss Bangalore Limited | 1.97 | 1.97 | 107.95 | 229.34 | 1.32 |
Company NameBrigade Hotel Ventures Limited
EPS (Basic)0.72
EPS (Diluted)0.72
NAV (per share) (Rs)2.79
P/E (x)125.00
RoNW (%)30.11
Company NameThe Indian Hotels Company Limited
EPS (Basic)13.40
EPS (Diluted)13.40
NAV (per share) (Rs)87.22
P/E (x)56.06
RoNW (%)16.42
Company NameEih Limited
EPS (Basic)11.82
EPS (Diluted)11.82
NAV (per share) (Rs)75.86
P/E (x)32.20
RoNW (%)16.23
Company NameChalet Hotels Limited
EPS (Basic)6.53
EPS (Diluted)6.52
NAV (per share) (Rs)139.42
P/E (x)136.63
RoNW (%)4.68
Company NameJuniper Hotels Limited
EPS (Basic)3.20
EPS (Diluted)3.20
NAV (per share) (Rs)122.55
P/E (x)99.48
RoNW (%)2.61
Company NameLemon Tree Hotels Limited
EPS (Basic)2.48
EPS (Diluted)2.48
NAV (per share) (Rs)22.59
P/E (x)62.04
RoNW (%)13.59
Company NameSamhi Hotels Limited
EPS (Basic)3.88
EPS (Diluted)3.84
NAV (per share) (Rs)51.63
P/E (x)62.75
RoNW (%)7.49
Company NameApeejay Surrendra Park Hotels Limited
EPS (Basic)3.92
EPS (Diluted)3.92
NAV (per share) (Rs)60.17
P/E (x)42.05
RoNW (%)6.51
Company NameVentive Hospitality Limited
EPS (Basic)6.83
EPS (Diluted)6.83
NAV (per share) (Rs)252.88
P/E (x)115.58
RoNW (%)0.82
Company NameItc Hotels Limited
EPS (Basic)3.05
EPS (Diluted)3.05
NAV (per share) (Rs)51.55
P/E (x)78.20
RoNW (%)5.94
Company NameSchloss Bangalore Limited
EPS (Basic)1.97
EPS (Diluted)1.97
NAV (per share) (Rs)107.95
P/E (x)229.34
RoNW (%)1.32
IPO Reservation
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 6,01,35,000 (71.23%) | NA |
| − Anchor Investor Shares Offered | 3,60,81,000 (42.74%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 2,40,54,000 (28.49%) | NA |
| NII (HNI) Shares Offered | 1,20,27,000 (14.25%) | NA |
| − bNII > ₹10L | 80,18,000 (9.50%) | 3,450 |
| − sNII < ₹10L | 40,09,000 (4.75%) | 1,725 |
| Retail Shares Offered | 80,18,000 (9.50%) | 48,301 |
| Employee Shares Offered | 8,73,103 (1.03%) | NA |
| Shareholders Shares Offered | 33,76,000 (4.00%) | NA |
| Total Shares Offered | 8,44,29,103 (100.00%) |
Investor CategoryQIB Shares Offered
Shares Offered6,01,35,000 (71.23%)
Maximum AllotteesNA
Investor Category− Anchor Investor Shares Offered
Shares Offered3,60,81,000 (42.74%)
Maximum AllotteesNA
Investor Category− QIB (Ex. Anchor) Shares Offered
Shares Offered2,40,54,000 (28.49%)
Maximum AllotteesNA
Investor CategoryNII (HNI) Shares Offered
Shares Offered1,20,27,000 (14.25%)
Maximum AllotteesNA
Investor Category− bNII > ₹10L
Shares Offered80,18,000 (9.50%)
Maximum Allottees3,450
Investor Category− sNII < ₹10L
Shares Offered40,09,000 (4.75%)
Maximum Allottees1,725
Investor CategoryRetail Shares Offered
Shares Offered80,18,000 (9.50%)
Maximum Allottees48,301
Investor CategoryEmployee Shares Offered
Shares Offered8,73,103 (1.03%)
Maximum AllotteesNA
Investor CategoryShareholders Shares Offered
Shares Offered33,76,000 (4.00%)
Maximum AllotteesNA
Investor CategoryTotal Shares Offered
Shares Offered8,44,29,103 (100.00%)
Maximum Allottees
Information about company
Brigade Hotel Ventures Limited is the owner and developer of hotels in key cities in India, primarily across South India. The company is a wholly-owned subsidiary of BEL, which is one of the leading Indian real estate developers in India.
The company owns chain-affiliated hotels and rooms in South India (comprising the states of Kerala, Andhra Pradesh, Tamil Nadu, Karnataka, Telangana, and the Union territories Lakshadweep, Andaman and Nicobar Islands and Pondicherry) among major private hotel asset owners (i.e., owning at least 500 rooms pan India) as of March 31, 2025.
The hotels provide a comprehensive customer experience, including fine dining and specialty restaurants, venues for meetings, incentives, conferences, and exhibitions (“MICE”), lounges, swimming pools, outdoor spaces, spas, and gymnasiums.
The company have a portfolio of nine operating hotels across Bengaluru (Karnataka), Chennai (Tamil Nadu), Kochi (Kerala), Mysuru (Karnataka) and the GIFT City (Gujarat) with 1,604 keys. The company's hotels are operated by global marquee hospitality companies such as Marriott, Accor and InterContinental Hotels Group.
Objectives of IPO
The Company Brigade Hotel Ventures IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
S.No.
Objects of the Issue
Expected Amount (₹ in crores)
1
Repayment/ prepayment, in full or in part, of certain outstanding borrowings availed by the company and Material Subsidiary, namely, SRP Prosperita Hotel Ventures Limited
468.14
2
Payment of consideration for buying of undivided share of land from the Promoter, BEL
107.52
3
Pursuing inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes
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