Brigade Hotel Ventures Sets IPO Price Band: A Fresh Investment Opportunity

Brigade Hotel Ventures Ltd, owning hotels in South India, announces an IPO with a price band of Rs 85-90 per share. Aims to raise Rs 759.6-crore, with proceeds funding debt repayment, land purchases, and strategic initiatives. Share listing is anticipated on July 31.

Brigade Hotel Ventures Ltd, a key player in the hospitality sector in South India, announced on Monday the pricing range for its much-anticipated Initial Public Offering (IPO). The shares are priced between Rs 85-90 each, aiming to raise Rs 759.6-crore.

The company, which operates luxury hotels in major cities like Bengaluru and Chennai, plans to open its IPO window from July 24 to July 28. The anchor investors are poised to bid on July 23, ahead of the general offering. The company intends to use the funds to reduce debt and purchase land from its promoter, BEL.

With no Offer For Sale (OFS) component, the IPO is exclusively a fresh issue, highlighting Brigade Hotel Ventures Ltd's commitment to expanding its market presence. Interested investors can look forward to the share listing on the stock exchanges on July 31.

(With inputs from agencies.)