Brigade Hotel Ventures Ltd, a subsidiary of Bengaluru-based real estate major Brigade Enterprises Ltd, has secured ₹126 crore in a pre-IPO placement ahead of its upcoming public offering. The investment came from 360 ONE Alternates Asset Management Ltd through the allotment of 1.4 crore equity shares at ₹90 per share.
This strategic placement represents 4.74% of Brigade Hotel Ventures&rsquo; pre-offer share capital.
According to the company's Draft Red Herring Prospectus (DRHP), the initial public offering will comprise a fresh issue of shares worth up to ₹900 crore. Of the total proceeds, ₹480 crore will be used for debt reduction, ₹107 crore for land acquisition, while the remaining funds will be allocated towards pursuing inorganic growth opportunities.
Established in 2004, Brigade Hotel Ventures is a leading hospitality player in South India. The company operates nine hotels across Bengaluru, Chennai, Kochi, Mysuru, and GIFT City, with a total inventory of 1,604 keys. These properties are managed by globally renowned hospitality brands including Marriott, AAPC India Hotel Management Pvt Ltd, and InterContinental Hotels Group (India) Pvt Ltd. 
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Source : Business-standard

Brigade Hotel Ventures Ltd, a subsidiary of Bengaluru-based real estate major Brigade Enterprises Ltd, has secured ₹126 crore in a pre-IPO placement ahead of its upcoming public offering.

Brigade Hotel Ventures Eyes Growth with ₹126 Cr Pre-IPO Infusion