Brigade Hotel Ventures IPO shares to make market debut today; check latest GMP

Brigade Hotel Ventures, a prominent hotel developer in South India, is set to list its shares on the BSE and NSE today, July 31. The company offered its shares in a price band of Rs 85-90, with a minimum lot size of 166 shares. The IPO, which ran from July 24 to July 28, raised Rs 759.60 crore through a fresh issue of 8,44,00,000 equity shares. JM Financial and ICICI Securities acted as the book-running lead managers for this issue.

The primary objective of the IPO was to bolster the company's capital base. However, market sentiments have been mixed, with the grey market premium (GMP) showing a sharp decline. Initially, the GMP was Rs 8-10, but as of the last update, it indicated no premium, suggesting a flat listing.

Brigade Hotel Ventures operates several hotels in key Indian cities, particularly in South India, with operations managed by global players like Marriott, Accor, and InterContinental Hotels Group. The company, which owns over 500 rooms across India, has been a significant player in the private hotel asset market. However, the company's latest performance on the grey market, combined with its current financial metrics, point to a cautious outlook.

The IPO saw an overall subscription of 4.48 times, gathering over 2.93 lakh applications. The Qualified Institutional Buyers (QIBs) segment witnessed a subscription of 5.42 times, while Non-Institutional Investors (NIIs) subscribed 1.92 times. The retail portion enjoyed a higher enthusiasm, being oversubscribed 6.40 times, whereas the employee segment saw a nearly full subscription at 94 per cent.

Despite the mixed responses, brokerage firms have varied opinions on the IPO, reflecting the ambiguous investor sentiment. Analysts suggest that prospective investors manage their expectations, given the fluctuating interest in the company's shares and the broader market conditions.

Key dates for investors to note include the listing date of July 31, with shares expected to start trading on both BSE and NSE today. Investors are advised to stay informed about further market updates to make informed decisions.