Brigade Hotel Ventures Files DRHP for Rs 900 Crore IPO in Hospitality Industry
Brigade Hotel Ventures IPO Details
Brigade Hotel Ventures Limited, a wholly-owned subsidiary of Brigade Enterprises, has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI) with the objective of raising Rs 900 crore through an initial public offering (IPO). The company plans to allocate the Net Proceeds for several strategic purposes including to fully or partially repay certain outstanding debt incurred by both the Company and its Material Subsidiary.
Strategic Growth Plans
In addition to debt repayment, Brigade Hotel Ventures aims to acquire a proportionate share of land from its Promoter, BEL, and pursue organic growth opportunities through acquisitions and other strategic initiatives. The proposed IPO involves a fresh issuance of equity shares at a face value of Rs 10 each, as detailed in the submission to the Bombay Stock Exchange (BSE).
New Developments in Hospitality
The firm intends to develop five additional hotels under global hospitality companies, and diversify its geographical footprint. Plans include expanding to regions such as Goa and South India, which are expected to reduce exposure to seasonal fluctuations and attract a diversified guest base.
- Luxury Beach Resort: Planned in Chennai, in partnership with Hyatt.
- Upper Midscale Hotels: To be developed in Bengaluru with Marriott.
- InterContinental Brand: New luxury hotel under development in Hyderabad.
- Wellness Resort: In Kerala, covering 14.70 acres.
Brigade Hotel Ventures is strategically positioned in the hospitality sector, having launched its first property in 2004 and currently operating nine hotels across key locations, boosting its presence in the market significantly.
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