CAM, Khaitan, Hogan Lovells act on Brigade Hotel Ventures ₹759.6 crore IPO

Brigade Hotel Ventures Limited has made an initial public offering of equity shares aggregating to ₹759.6 crore.

Cyril Amarchand Mangaldas advised Brigade Hotel Ventures on this IPO.

The capital markets team comprised of Reuben Chacko (Partner, Regional Co-Head – Capital Markets – South), Anjali Menon (Principal Associate), Anjini Ganguly (Associate), Arikta Shetty (Associate), Tejaswi Sade (Associate) and Zubin Ronnie (Associate).

Rutu Gandhi (Partner) and Pratiksha Arekar (Senior Associate) advised on the Securities Regulatory aspects of the transaction.

Abhilash Pillai (Partner), with support from Kripa Sankari (Principal Associate), Pavithra Rao (Senior Associate) and Shivani Subbaiah (Associate) advised on Real Estate aspects of the transaction.

The General Corporate team comprised of Pooranimaa Hariharan (Partner), Nimrah Rasheed (Associate) and Prashastha Cormaty (Associate).

Khaitan & Co advised JM Financial Limited and ICICI Securities Limited, the book running lead managers, on this IPO.

The transaction team consisted of Thomas George (Partner), Suman Prabhu (Partner), and Associates Tharun Vadlapatla, Aadhya Singh, Varun Nair, Anand Sivasankaran and Anveeksha Anand.

Hogan Lovells served as the US counsel for BRLMs.

The transaction team was led by Biswajit Chatterjee (Head of the India Practice and Dubai Office Managing Partner) with support from Kaustubh George (Counsel), Varun Jetly (Counsel), Suchisubhra Sarkar (Senior Associate), Aditya Rajput (Senior Associate), Aditya Dsouza (Associate), Sanjana Ravjiani (Associate), Komal Israni (Associate) and Purva Mishra (Associate).

Brigade Hotel Ventures Limited is an owner and developer of hotels in India, primarily across South India. It’s portfolio of hotels include Sheraton Grand Bangalore at Brigade Gateway and hotels under the ‘Grand Mercure’ and ‘Holiday Inn’ brands. The Company is a wholly-owned subsidiary of Brigade Group, which is one of the leading real estate developers in India.

The IPO was oversubscribed by 4.48 times, with the retail investors’ portion being oversubscribed by 6.4 times, the QIB portion being oversubscribed by 5.42 times, the NII portion being oversubscribed by 1.92 times and the employee reservation portion being oversubscribed by 0.94 times.

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