Brigade Enterprises Limited has informed the Exchange about Brigade Hotel Ventures Limited, a subsidiary of the Company, has filed the red herring prospectus with the Registrar of Companies on July 18, 2025
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Brigade Enterprises Limited announced that its subsidiary, Brigade Hotel Ventures Limited (BHVL), has filed the Red Herring Prospectus (RHP) with the Registrar of Companies, Karnataka on July 18, 2025 for its proposed initial public offering. The issue is a fresh issue of equity shares with a face value of ₹10, aggregating up to ₹7,596 million (around ₹759.6 crore). A portion of the issue is reserved for employees of BHVL, its subsidiary SRP Prosperita Hotel Ventures Limited, and the promoter and shareholders of Brigade Enterprises. The IPO subscription window will open on July 24, 2025 and close on July 28, 2025, with the price band to be announced at least two working days before the issue opens.
This is a value-unlocking event for Brigade Enterprises shareholders, as the listing of its hotel subsidiary could lead to a re-rating of the parent company's stake value. Brigade Enterprises will continue to remain the promoter of BHVL post-listing, retaining control while accessing fresh capital for the subsidiary's growth.