Brigade Hotel Ventures IPO GMP Increases Before Public Issue Opens For Subscription

Brigade Hotel Ventures IPO GMP: Brigade Hotel Ventures IPO bidding window will open on July 24. The subscription window for the hotel chain operator's public issue is slated to close on July 28. Here's a look at the key dates, offer size, price band, Grey Market Premium (GMP) and other important details of the public issue:

Brigade Hotel Ventures IPO GMP Today

Brigade Hotel Ventures GMP rose to Rs 19 according to websites which monitor the grey market activity of IPO-bound stocks. In the last four sessions the GMP has increased from Rs 6 on July 19 to Rs 19 on July 23.

Brigade Hotel Ventures IPO price has been fixed between Rs 85 to Rs 90 per share. At the upper end of the price band, the grey market price of Brigade Hotel Ventures shares is Rs 109 (Rs 90 + Rs 19). At the grey market price, the stock is trading at a premium of 28.23 per cent to the issue price.

GMP refers to the price which investors are willing to pay for an unlisted security. Investors typically observe the GMP for IPO-bound stocks before the scrip lists on the exchanges. While GMP serves as an indicator of investor interest, it is an unofficial measure and not the only factor responsible for determining how a stock will list on the exchanges.

Brigade Hotel Ventures IPO Offer Size

Brigade Hotel Ventures IPO is worth Rs 759.6 crore and consists of a completely fresh issuance of 8.44 crore shares.

Brigade Hotel Ventures IPO Price Band

Brigade Hotel Ventures' IPO price band has been fixed at Rs 80 to Rs 95 apiece. Retail individual investors can apply for Brigade Hotel Ventures IPO by placing bids for 1 lot consisting of 166 shares. Retail investors can apply for Brigade Hotel Ventures IPO by making a minimum investment of Rs 14,110.

Brigade Hotel Ventures IPO Key Dates

Brigade Hotel Ventures IPO subscription window will open on July 24 and is scheduled to close on July 28. Subsequent to the closure of the bidding window, the basis of allotment of Brigade Hotel Ventures IPO will be finalised on July 29. Brigade Hotel Ventures Ltd stocks will make their debut on the NSE and BSE on July 31.

Brigade Hotel Ventures IPO: Objective

Brigade Hotel Ventures plans to use Rs 468.14 crore out of the money raised from the public issue for repayment or prepayment of its outstanding borrowings. A portion of the proceeds, Rs 107.52 crore will also be used for buying a share of land from the company's promoter Brigade Enterprises Ltd. The proceeds will also be used for pursuing inorganic growth via acquisitions and other initiatives.

About Brigade Hotel Ventures

Brigade Hotel Ventures operates hotels across India and has a strong presence in regions in Southern India. Brigade Hotel Ventures is a subsidiary of real estate developer Brigade Enterprises Ltd.