KUALA LUMPUR, Brigade Hotel Ventures’ ₹7.6 billion (US$88 million) initial public offering (IPO) was fully subscribed by Friday afternoon, the second day of bidding, reflecting growing investor confidence in India’s rapidly expanding hospitality sector.
As of 1:28pm local time, exchange data showed total bids equaled the number of shares available in the fresh issue.
The hotel operator, targeting a market valuation of approximately US$397 million, is scheduled to list on Thursday, July 31.
India’s hospitality sector is seeing a surge in demand, driven by a strong rebound in both business and leisure travel. This momentum is further supported by affluent consumers splurging on luxury goods and services—from high-end accommodations to premium cars, apartments, and designer items.
In response, hospitality groups like ITC Hotels and Schloss Bangalore (owner of Leela Hotels) have turned to public markets over the past two years, banking on continued appetite for premium experiences.
Brigade Hotel Ventures initially filed for a ₹9 billion IPO in October, but the offer size was reduced following partial debt repayments and pre-IPO fundraising efforts.
The company operates nine hotels across five Indian cities, partnering with international brands such as Marriott, Accor, and IHG in the mid- to upscale segments.
