Brigade Hotel Ventures To Raise ₹1.26 Billion From 360 ONE Alternates

Brigade Enterprises Ltd. on Thursday said its subsidiary Brigade Hotel Ventures Ltd. has signed an investment agreement with 360 ONE Alternates Asset Management Ltd. to raise up to ₹1.26 billion.

Under the deal, Brigade Hotel Ventures will allot 14 million equity shares to 360 ONE Alternates, the company said in an exchange filing.

Both Brigade Hotel Ventures and 360 ONE Alternates are subsidiaries of Brigade Enterprises. Following the allotment, Brigade Enterprises’ stake in Brigade Hotel Ventures will fall to 95.26%, and the latter will cease to be a wholly-owned subsidiary.