Law firms CAM, Khaitan, and Hogan Lovells provide legal services for Brigade Hotel Ventures' ₹759.6 crore initial public offering (IPO)

Law firms CAM, Khaitan, and Hogan Lovells provide legal services for Brigade Hotel Ventures' ₹759.6 crore initial public offering (IPO)

Brigade Hotel Ventures Limited, a prominent hotel owner and developer in India, has successfully completed its initial public offering (IPO) of equity shares, raising ₹759.6 crore. The offering, which was oversubscribed by 4.48 times, marks a significant milestone for the company.

The IPO saw strong participation from various categories of investors. Retail investors showed a particular interest, with their portion being oversubscribed by 6.4 times. Qualified institutional buyers (QIB) also participated robustly, with their portion being oversubscribed by 5.42 times. The non-institutional investors (NII) and employee reservation portions were also oversubscribed, albeit to a lesser extent.

Legal advisory for the IPO was provided by a team of experts from Cyril Amarchand Mangaldas, Khaitan & Co, and Hogan Lovells.

At Cyril Amarchand Mangaldas, the company counsel was led by Partners Harish Salve and Anand Shah. Senior associates including Divya Ramachandran and Bhavna Gandhi provided support. The team handled the corporate compliance aspects of the IPO.

Khaitan & Co served as the lead counsel to the book running lead managers (BRLMs), JM Financial and ICICI Securities. The team was headed by Partner Sanjay Topraj and senior associates Rohit Nair and Meera Menon.

Hogan Lovells served as the US counsel for the BRLMs in this IPO. The team was led by Partners Paul Gordon and Anjali Desai, with associates Michael Chan and Kavita Rao providing support.

At Brigade Hotel Ventures Limited, Thomas George, Suman Prabhu, and associates Tharun Vadlapatla, Aadhya Singh, Varun Nair, Anand Sivasankaran, and Anveeksha Anand were part of the transaction team.

Brigade Hotel Ventures Limited's IPO also saw contributions from other members of the legal teams. Pooranimaa Hariharan, Nimrah Rasheed, and Prashastha Cormaty were part of the General Corporate team at Cyril Amarchand Mangaldas. Anjali Menon, Anjini Ganguly, Arikta Shetty, Tejaswi Sade, and Zubin Ronnie were associates on the capital markets team at Cyril Amarchand Mangaldas. Abhilash Pillai, with support from Kripa Sankari, Pavithra Rao, and Shivani Subbaiah, advised on Real Estate aspects of the transaction at Cyril Amarchand Mangaldas.

Reuben Chacko, Partner, Regional Co-Head - Capital Markets - South, was part of the capital markets team at Cyril Amarchand Mangaldas. Rutu Gandhi and Pratiksha Arekar advised on the Securities Regulatory aspects of the transaction at Cyril Amarchand Mangaldas.

The collaborative effort across Indian and international law firms ensured comprehensive legal advisory for the IPO, covering corporate compliance, representation of underwriters, and international legal considerations related to the offering on Indian stock exchanges.

With this successful IPO, Brigade Hotel Ventures Limited continues to solidify its position as a significant player in the Indian hotel industry. The company's portfolio includes notable properties such as the Sheraton Grand Bangalore at Brigade Gateway, hotels under the 'Grand Mercure' and 'Holiday Inn' brands.

[1] For more information about the IPO, please refer to the official announcement from the stock exchanges.

[1] Investors, both retail and qualified institutional buyers (QIB), showed a robust interest in the IPO of Brigade Hotel Ventures Limited, with their portions being oversubscribed multiple times.

[2] With the IPO proceeds, Brigade Hotel Ventures Limited plans to invest in expanding its existing real-estate portfolio, which includes hotels under the Sheraton Grand, Grand Mercure, and Holiday Inn brands.

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