| Initial public offer of up to [*] equity shares of face value of Rs.10 each ("equity shares") of Brigade Hotel Ventures Limited ("company" or "issue") for cash at a price of Rs.[*] per equity share (including a share premium of Rs.[*] per equity share) ("issue price") aggregating up to Rs.900.00 crores (the "issue") comprising a fresh issue of up to [*] equity shares aggregating up to Rs.900.00 crores (the "fresh issue").
This issue includes a reservation of up to [*] equity shares of face value of Rs.10 each (constituting [*]% of the post issue paid up equity share capital of the company) aggregating up to Rs.[*] crores for subscription by eligible employees (the "employee reservation portion") and a reservation of up to [*] equity shares of face value of Rs.10 each (constituting [*]% of the post issue paid up equity share capital of the company) aggregating up to Rs.[*] crores, for subscription by bel shareholders (as defined hereinafter) (the "BEL shareholders reservation portion"). The issue less the employee reservation portion and the bel shareholders reservation portion is hereinafter referred to as the "net issue". The issue and the net issue will constitute [*]% and [*]% of the post-issue paid-up equity share capital, respectively.
The company, in consultation with the book running lead managers, may consider a pre-ipo placement aggregating up to Rs.180.00 crores, prior to filing of the red herring prospectus. the pre-ipo placement, if undertaken, will be at a price to be decided by the company, in consultation with the book running lead managers. if the pre-ipo placement is completed, the amount raised pursuant to the pre-ipo placement will be reduced from the issue, subject to compliance with rule 19(2)(b) of the scrr. the pre-ipo placement, if undertaken, shall not exceed 20% of the size of the issue. the utilisation of the proceeds raised pursuant to the pre-ipo placement will be done towards the proposed objects of the issue in compliance with applicable law. prior to the completion of the issue and the allotment pursuant to the pre-ipo placement, the company shall appropriately intimate the subscribers to the pre-ipo placement, that there is no guarantee that the company may proceed with the issue or the issue may be successful and will result into listing of the equity shares on the stock exchanges. further, relevant disclosures in relation to such intimation to the subscribers to the pre-ipo placement (if undertaken) shall be appropriately made in the relevant sections of the red herring prospectus and prospectus.
The face value of equity shares is Rs.10 each. the issue price is [*] times the face value of the equity shares. the price band and the minimum bid lot shall be decided by the company in consultation with the brlms.
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