Brigade Enterprises Limited has informed the Exchange about Intimation under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Acquisition of equity shares by the Company
BRIGADE · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Brigade Enterprises Limited has completed the acquisition of securities in Vibrancy Real Estates Private Limited (VREPL), a former wholly-owned subsidiary. Under the Securities Subscription Agreement with GSS India Opportunities AIF Scheme I (investor represented by Bain Capital), VREPL allotted securities resulting in Brigade and the investor each holding 50% stake. The Company acquired 25,31,706 equity shares and 10,00,000 OCRPS for a total cost of approximately Rs. 137.43 crore. VREPL ceases to be a subsidiary and is now a joint venture company effective April 29, 2026. VREPL plans to develop an integrated office and hotel project of around 2 million sq. ft. The transaction is a related party transaction as VREPL was formerly a wholly-owned subsidiary, and was carried out at arm's length based on valuation reports.
The deal reduces Brigade's ownership in VREPL from 100% to 50%, converting it from a subsidiary to a joint venture. This is a strategic deconsolidation that brings in Bain Capital-backed capital for a large real estate project while retaining equal co-control.