Brigade Hotel Ventures IPO opened for subscription on July 24 and will end on July 28. The IPO received a healthy response from investors as the issue was subscribed over 1.18 times on the second day of bidding, led by strong demand from retail and non-institutional investors.
On the second day, the retail portion was subscribed 4.61 times, while the non-institutional investor (NII) segment recorded a 97% subscription. Meanwhile, the qualified institutional buyers (QIB) category saw bids for 8% of its allotted quota.
Brigade Hotel Ventures IPO GMP today
The GMP of Brigade Hotel Ventures IPO has fallen to ₹1.5 on Monday, July 28 from ₹2 on a day before, as per investorgain. This means that the shares of Brigade Hotel Ventures IPO is trading at a premium of ₹1.5 in the grey market.
Brigade Hotel Ventures IPO subscription status
On the third day of bidding, Brigade Hotel Ventures IPO has been subscribed over 1.35 times, as of 10:42 am.
The retail portion has been subscribed over 5.22 times, meanwhile NII and QIB have received 1.14 times and 0.08 times subscription. The IPO has received 6,92,58,852 applications, as compared to offered 5,11,93,987 shares.
Brigade Hotel Ventures IPO details
Brigade Hotel Ventures plans to raise ₹759.60 crore through its IPO, consisting entirely of a fresh issue of 8.44 crore equity shares. The IPO has a lot size of 166 shares, with a minimum investment requirement of ₹14,940 for retail investors.
The price band for the offer is set between ₹85 and ₹90 per share. The allotment is expected to be finalized on Tuesday, July 29, 2025, and the shares are likely to be listed on both the NSE and BSE on Thursday, July 31. JM Financial Limited is serving as the book-running lead manager, while Kfin Technologies Limited is appointed as the registrar for the issue.
The company intends to use the IPO proceeds to repay or prepay, either fully or partially, certain borrowings of both the company and its key subsidiary, SRP Prosperita Hotel Ventures Limited. Additionally, the funds will go towards purchasing an undivided share of land from the promoter, supporting inorganic growth through potential acquisitions and strategic initiatives, and for general corporate purposes.
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