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15 Days Price Change

Brigade Hotel Ven. IPO

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WEBSITE Inc. Year: 2016 Industry: Hotel, Resort & Restaurants Listed Page

Profile
Issue Size 460.75 Cr
Profile
Price Range 85  to  90 per share
Profile
Min Investment ₹90
Profile
Lot Size 1
Profile
Face Value ₹10
Profile
Draft Prospectus
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Profile
  • Basic Info
  • IPO Tentative Timetable
  • IPO Lot Size
  • Subscription Status
  • Financials
  • Profit & Loss
  • Balance Sheet
  • Cash Flow
  • Ratios
  • Growth Rates
  • Other info

Overview

We are an owner and developer of hotels in key cities in India primarily across South India. We are the second largest owner of chain-affiliated hotels and rooms in South India (comprising the states of Kerala, Andhra Pradesh, Tamil Nadu, Karnataka, Telangana, and the Union territories Lakshadweep, Andaman and Nicobar Islands and Pondicherry) among major private hotel asset owners (i.e., owning at least 500 rooms pan India) as of June 30, 2024 (Source: Horwath HTL Report). Our Promoter, Brigade Enterprises Limited (“BEL”) entered into the hospitality business in 2004 with the development of our first hotel Grand Mercure Bangalore, which commenced operations in 2009. As of the date of this Draft Red Herring Prospectus, we have a portfolio of nine operating hotels across Bengaluru (Karnataka), Chennai (Tamil Nadu), Kochi (Kerala), Mysuru (Karnataka) and the GIFT City (Gujarat) with 1,604 keys. Our hotels are operated by global marquee hospitality companies such as Marriott, Accor and InterContinental Hotels Group and are in the upper upscale, upscale, upper-midscale, and midscale segments (Source: Horwath HTL Report). Our hotels provide a comprehensive customer experience including fine dining and specialty restaurants, venues for meetings, incentives, conferences, and exhibitions (“MICE”), lounges, swimming pools, outdoor spaces, spas, and gymnasiums. Our hotels have been recognized for their quality and have received several awards. For example, our hotel Sheraton Grand Bangalore at Brigade Gateway was awarded the ‘City Hotel of the Year 2022-2023’ at the Luxury Travel Guide Globe Awards, our hotel Holiday Inn Chennai OMR IT Expressway was awarded the ‘Best Five Star Hotel of the year’ for 2019 by Tamil Nadu Tourism and our hotel Four Points by Sheraton Kochi Infopark was awarded the ‘Vajra Award of the Year’ in 2023 by the Department of Labour and Skills, Government of Kerala in recognition of the highest category ranking for overall performance in labour relations and compliance. Read More

Basic Info

Face Value 10 per share

Price 85  to  90 per share

P/E (x) 128.6

Sales( Cr.) 468

PAT( Cr.) 24

EPS 0.7

Draft Prospectus

Exchange BSE-NSE

Promoter

Company Promoters

Brigade Enterprises Ltd.

Pre Issue Share Holding 100%

Post Issue Share Holding 74.09%

Listing Details:

Listing Price: 82

Listing Gain: -9.76%

Current Price: 61.4

Gain On Issue: 61.4 | 0%

GMP: --

GMP %: -- %

IPO Tentative Timetable

Opening Date Jul 24, 2025
Closing Date Jul 28, 2025
Allotment Jul 29, 2025
Refund Jul 30, 2025
Delivery of Shares Jul 30, 2025
Listing Date Jul 31, 2025

IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 166 14,940
Retail (Max) 13 2158 194,220
S-HNI (Min) 14 2324 209,160
S-HNI (Max) 66 10956 986,040
B-HNI (Min) 67 11122 1,000,980

Objective of the Issue

1. Repayment/ prepayment, in full or in part, of certain outstanding borrowings availed by our: (i) Company (ii) Material Subsidiary, namely, SRP Prosperita Hotel Ventures Limited 2. Payment of consideration for buying of undivided share of land from our Promoter, BEL 3. Pursuing inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes.

Issue

Category Nos Bid Bid (x)
QIB 25468941 138149848 5.4x
NII 12734470 24391708 1.9x
Retail 8489647 54365498 6.4x
EMP 926341 868346 0.9x
Total 51193987 229514588 4.5x

Net Sales (in cr.)

Total Income (in cr.)

Operating Profit (in cr.)

Net Profit (in cr.)

Shareholder Funds (in cr.)

Total Assets (in cr.)

Brigade Hotel Ven. Profit & Loss

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 146 350 402 468
Other Income 5 6 3 2
Total Income 152 356 405 471
Total Expenditure 136 253 260 304
Operating Profit 16 103 145 167
Interest 62 69 69 73
Depreciation 58 49 44 50
Exceptional Income / Expenses -11 11 0 0
Profit Before Tax -115 -5 32 45
Provision for Tax -32 -1 1 21
Profit After Tax -83 -3 31 24
Adjustments 6 -1 -6 -3
Profit After Adjustments -77 -4 25 20
Adjusted Earnings Per Share -765 -38.4 248.7 0.7

Brigade Hotel Ven. Balance Sheet

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 40 42 67 87
Minority's Interest 5 6 12 15
Borrowings 587 501 549 493
Other Non-Current Liabilities -11 0 52 92
Total Current Liabilities 168 212 128 202
Total Liabilities 789 762 809 890
Fixed Assets 670 628 652 732
Other Non-Current Assets 37 44 89 71
Total Current Assets 82 90 68 88
Total Assets 789 762 809 890

Brigade Hotel Ven. Cash Flow

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 9 10 -13 4
Cash Flow from Operating Activities -13 108 155 149
Cash Flow from Investing Activities -11 1 -45 -95
Cash Flow from Financing Activities 25 -132 -92 -82
Net Cash Inflow / Outflow 1 -23 17 -28
Closing Cash & Cash Equivalent 10 -13 4 -24

Brigade Hotel Ven. Ratios

# Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) -765 -38.4 248.7 0.72
CEPS(Rs) -243.2 462.6 747.8 2.61
DPS(Rs) 0 0 0 0
Book NAV/Share(Rs) -2500.8 -2481.1 -2231.8 2.74
Core EBITDA Margin(%) 7.44 27.64 35.22 35.12
EBIT Margin(%) -36.28 18.45 25.14 25
Pre Tax Margin(%) -78.3 -1.3 7.99 9.51
PAT Margin (%) -56.47 -0.88 7.75 5.05
Cash Profit Margin (%) -16.6 13.21 18.62 15.69
ROA(%) -10.48 -0.4 3.97 2.79
ROE(%) 0 0 0 0
ROCE(%) -7.41 9.34 15.23 17.27
Receivable days 31.27 17.32 19.29 17.45
Inventory Days 6.4 3.61 4.67 4.92
Payable days 422.37 262.04 265.92 266.86
PER(x) 0 0 0 0
Price/Book(x) 0 0 0 0
Dividend Yield(%) 0 0 0 0
EV/Net Sales(x) 6.39 2.53 2.15 1.87
EV/Core EBITDA(x) 57.16 8.59 5.97 5.26
Net Sales Growth(%) 0 139.09 14.7 16.57
EBIT Growth(%) 0 221.6 56.23 15.95
PAT Growth(%) 0 96.26 1107.77 -24.02
EPS Growth(%) 0 94.98 747.66 -99.71
Debt/Equity(x) 21.52 18.7 10.23 7.85
Current Ratio(x) 0.49 0.42 0.53 0.44
Quick Ratio(x) 0.47 0.4 0.48 0.4
Interest Cover(x) -0.86 0.93 1.47 1.61
Total Debt/Mcap(x) 0 0 0 0

Sihora Industries Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 16% 47% 0% 0%
Operating Profit CAGR 15% 119% 0% 0%
PAT CAGR -23% 0% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR NA% NA% NA% NA%
ROE Average 0% 0% 0% 0%
ROCE Average 17% 14% 9% 9%

Company Contact Information

Brigade Hotel Ventures Ltd.

Akanksha Bijawat

+91 80 4137 9200

investors@bhvl.in

29th & 30th Floor, World Trade Center Brigade Gateway Campus, 26/1, Dr. Rajkumar Road Malleswaram Rajajinagar

IPO Lead Manager(s)

Brigade Hotel Ventures Ltd.

JM Financial Ltd.

ICICI Securities Ltd

Registrar Info

Brigade Hotel Ventures Ltd.

K FIN Technologies Ltd.-(Karvy Fintech Pvt Ltd.)

Karvy Selenium Tower B, Plot 31-32 Gachibowli,Financial District, Nanakramguda Hyderabad – 500032 Tel. No. 040 67161500 Fax. No. 040 23001153 E-mail: einward.ris@karvy.com Website: www.karvy.com Toll Free No. of exclusive Call Centre:1-800-345001

040 - 67162222/18003094001

einward.ris@kfintech.com

https://www.kfintech.com

Frequently Asked Questions

All You Need To Know About IPO

When you leave without vesting, generally unvested ESOPs are cancelled. Vested ESOPs usually can be exercised after you depart, often within 3 to 6 months, depending on the company's ESOP plan.

For companies listed on a stock exchange, you can sell the shares any time after you exercise the ESOP option and the shares are in your demat account. If the company is unlisted or otherwise a startup, you can only sell the shares if and when the company announces a buyback or has a process for secondary sales.

Whenever you exercised your options to hold shares, you entered into a market risk situation, and if the valuation of the company drops, so do the shares.

Yes. ESOPs are valuable to the employer in that the employer is able to retain the best talent, align employee interests with company goals, and preserve cash while rewarding performance.

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