Announcement under Regulation 30 - Price Band Intimation for the initial public offering of Brigade Hotel Ventures Limited, a subsidiary of the Company
BRIGADE · price
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Awaiting price reaction for this filing.
Brigade Enterprises has informed exchanges that the price band for the IPO of its subsidiary Brigade Hotel Ventures Limited (BHVL) has been fixed at ₹85 to ₹90 per equity share of face value ₹10. The minimum bid lot has been set at 166 shares, with applications accepted in multiples of 166 thereafter. The issue includes a reservation portion for eligible employees and eligible shareholders of Brigade Enterprises, and a discount on the issue price may be offered to employees bidding in the employee reservation portion, subject to approvals. The red herring prospectus was filed on July 18, 2025, with JM Financial Limited and ICICI Securities Limited acting as book running lead managers.
This is a positive development for Brigade Enterprises shareholders as it marks a key step towards listing and potential value unlocking of its hotel subsidiary. The final issue price within the band will determine the value Brigade can realize from the IPO and the dilution impact on its holding in BHVL.