Brigade Hotel IPO disease: Brigade Hotel Vicures is scheduled to launch the initial offering of public (IPO) next week to increase markets of Rs 759.6 from capital markets. The issue is open for public subscriptions on July 24 and close to July 28, as in red herring prefecpectus (RHP).
This is a new issue or ofs?
IPO consists of a fresh issue with equity features of a face value of Rs 10 each. No offer is sold (OFS) substance, which means the full income from offering directly goes to the company for business purposes.
The company is expected to inform official price size and IPO size on Monday, July 21, at its scheduled press conference.
Using IPO continuously
Company plans to use net gocts in IPO and pre-IPO placement funds for:
- Rs 468 crore toward payment of borrowers
- Rs 107.5 crore for buying inexpensive parts of the land from its promoter company
- Remaining funding for the oral growth opportunities, strategic acquisition, and general corporate purposes
Until May 31, 2025, Brigade hotel captives have general consolidation borrowing Rs 619 crore.
Brlms
JM Financial and ICICI securities act as book managers running the IPO.
About Brigade Hotel Hotels
Brigade Hotel Vicrees is the owner and developer of hotels in Indian cities, with one foot throughout India. This is a thoroughly owned subsidiary of Brigada Enterprises Ltd. (Bel), a leading real estate developer in India.
Company has owned a portfolio of hotels related to the southern state chain of Karnataka, Kerala, Temilesh, Step
Until June 30, 2024, Hotel Hotel Brigades are one of the main hotel owners at the Hotel India hotel, who owns at least 500 Pan-Indian rooms.
