New Delhi, July 28 -- Brigade Hotel Ventures IPO Day 3: The initial public offering (IPO) of Brigade Hotel Ventures, which kicked off on July 24, closed for subscription today, July 28. The mainboard issue managed to sail through thanks to stellar retail and QIB demand. The grey market premium trend for Brigade Hotel Ventures IPO turned muted by the end of the bidding period.

The Rs.759 crore IPO was entirely a fresh issue of 8.44 crore shares. The price band for Brigade Hotel Ventures IPO was set at Rs.85 to Rs.90 per share. The lot size was for 166 shares, requiring a minimum investment of Rs.14,110 by the retail investors.

The company plans to use the funds raised for repayment of certain outstanding borrowings availed by the company...