Brigade Hotels IPO opens on July 24: Key details here
Brigade Hotel Ventures (BHVL) is opening its IPO from July 24-28, 2023, aiming to raise ₹759.6 crore by offering shares priced at ₹85-90 each.
Most shares (75%) go to big institutional investors, while the rest are set aside for retail and non-institutional buyers.
BHVL operates 9 hotels across India
BHVL runs nine hotels across Bengaluru, Chennai, Kochi, Mysuru, and GIFT City under global brands like Marriott and Accor.
With 1,604 rooms in total, they're planning to use most of the IPO money—₹468 crore—to clear debt and another chunk for buying land from their promoter.
IPO details and use of funds
They're eyeing five new hotels in South India, including some luxury spots. The leftover funds will help with acquisitions and other business needs.
Shares are expected to list on NSE and BSE around July 31. JM Financial and ICICI Securities are leading the IPO process.
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