Upcoming IPO: Brigade Hotel Ventures Files DRHP With SEBI To Raise Rs 900 Cr Via IPO

Among the top private hotel asset owners in South India, Brigade Hotel Ventures Limited is the second-largest owner of chain-affiliated hotels and rooms. The company has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI), the market regulator. A fresh issue of equity shares with a face value of Rs 10 apiece, totalling up to Rs 900 crores, is part of the company's IPO. The issue's Book Running Lead Managers are ICICI Securities Limited and JM Financial Limited.

The owner and developer of hotels in major Indian cities, mostly in South India, is Brigade Hotel Ventures Limited. As of June 30, 2024, they rank second among major private hotel asset owners (i.e., owning at least 500 rooms pan India) of chain-affiliated hotels and rooms in South India, which includes the states of Kerala, Andhra Pradesh, Tamil Nadu, Karnataka, Telangana, and the Union territories of Lakshadweep, Andaman and Nicobar Islands, and Pondicherry.

One of the top Indian real estate developers, Brigade Enterprises Limited, is the parent company of Brigade Hotel Ventures Limited. In 2004, BEL made its first into the hospitality industry by building its first hotel, the Grand Mercure Bangalore, which opened for business in 2009. With 1,604 keys, the firm owns a portfolio of nine operational hotels in Bengaluru, Karnataka; Chennai, Tamil Nadu; Kochi, Kerala; Mysuru, Karnataka; and GIFT City, Gujarat. The hotels are in the upper-upscale, upscale, upper-midscale, and midscale categories and are run by well-known international hospitality businesses including Marriott, Accor, and InterContinental Hotels Group.

To raise up to Rs 12,500 crore through an IPO, HDB Financial Services Ltd. submitted its draft red herring prospectus to the Securities and Exchange Board of India. Both a fresh issue and an offer for sale (OFS) are included in the deal. As a fresh offering, the financial services company would offer shares worth Rs 2,500 crore, each with a face value of Rs 10. The promoter, HDFC Bank, would sell 10,000 crore rupees worth of shares in the subsidiary at a face value of Rs 10. A CAGR of 55.98% between the fiscal years 2022 and 2024 was demonstrated by HDB Financial Services' Rs 2,460 crore profit in the fiscal year 2023-2024, according to the DRHP.

In order to raise Rs 4,000 crore through an initial public offering (IPO), defense equipment producer SMPP Ltd submitted preliminary papers to capital markets regulator Sebi last month. According to the draft red herring prospectus (DRHP) submitted, the IPO consists of an offer for sale (OFS) of equity shares valued at up to Rs 3,420 crore by promoter Shiv Chand Kansal, as well as a fresh issuance of equity shares totalling up to Rs 580 crore. The issue's book-running lead managers are Motilal Oswal Investment Advisors, JM Financial, IIFL Securities, ICICI Securities, and Axis Capital. SMPP will be listed on both main-board exchanges i.e. BSE/NSE.