Brigade's Next Stop: IPO & Five New Hotels on the Horizon

Brigade Hotel Ventures Ltd. (BHVL), the hospitality subsidiary of Brigade Group, is set to broaden its hotel portfolio while launching an initial public offering (IPO) worth ₹760 crore.

The company has planned five new hotel developments, including a luxury beachfront resort in Chennai and two upper midscale properties in Bengaluru. “We’ve already secured land and brand tie-ups for five hotels, including three under the Marriott umbrella. For one property, land acquisition is complete, while brand finalisation and key count are still under discussion,” said Nirupa Shankar, Joint Managing Director of Brigade Group.

According to the draft red herring prospectus, ₹90 crore from the IPO proceeds will be allocated to an undisclosed opportunistic asset, while the remaining funds will be used for debt repayment, ongoing project development, and strategic acquisitions.

BHVL currently operates nine hotels with a total inventory of 1,604 keys, spanning Bengaluru, Chennai, Kochi, Mysuru, and GIFT City.

News by Rahul Yelligetti.