Brigade Hotel Ventures files DRHP papers with SEBI for an IPO worth Rs. 900 Crores. The company is the owner and developer of hotels in South India. The chain of hotels is currently running in Kerala, Andhra Pradesh, Tamil Nadu, Karnataka, and UTs Lakshadweep, Andaman & Nicobar, and Pondicherry. Let us uncover more details about Brigade Hotel Ventures DRHP and IPO below.
Brigade Hotel Ventures Is Going To Launch An IPO Soon
Brigade Hotel Ventures IPO is going to be released soon. The company has already filed its DRHP papers. The IPO will have only fresh equity shares at the face of Rs. 10 per share. While the company will be raising Rs. 900 crores in total. The IPO date is not announced yet. However, the company has specified its motives behind this fundraiser. Let us uncover how the company will use this money for its growth.
Brigade Hotel Ventures will use Rs. 481 Crores from the IPO to pay back its borrowed funds. The company utilise the other half of the money for the acquisition of some assets. It aims to expand in the hospitality further. There will be a scope of growth and profitability with the expansion. Another question arises as to whether the company is profitable to invest. In terms of hotels and hospitality, we count its growth with the growth in its number of keys. The company claims to be the second-largest chain of affiliated hotels in South India.
Now what do we mean by affiliated hotel chain? It means that global hospitality companies like Marriot, Accor, and InterContenental Hotel Groups operate the company’s hotels. These brands belong to upper-midscale and upper-scale hotels. Thus, the company is also growing among luxury stays. It has 1,604 keys or rooms as of 30 September 2024. If we talk about its profitability, Brigade Hotel Ventures has been a profitable company since 2024.
It has made a profit of Rs. 31.14 Crores in the fiscal year 2023-24. While it was at a loss of Rs. 3.09 crores in the financial year 2022-23. It has grown out of loss over the past two years. Thus, it is a great opportunity to invest in its IPO. It projects profitability in the coming months. KFin Technologies will be the registrar. Thus, you will be able to check your allotment status from there. While JM Financial and ICICI Securities will work as the book-running lead managers. There will be a total of Rs. 900 crores IPO. Stay tuned for more information on our website.