Brigade Hotel Ventures Limited has filed its official statement of deviation or variation in fund utilization for the quarter ended March 31, 2026, pursuant to Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company confirmed no deviation or variation in the utilization of funds raised through both Pre-IPO Placement and Initial Public Offering.

Regulatory Filing Overview

The statement, signed by Company Secretary & Compliance Officer Akanksha Bijawat on April 28, 2026, was submitted to both NSE and BSE. CARE Ratings Limited serves as the monitoring agency for both fundraising initiatives, ensuring compliance with stated fund utilization objectives.

Pre-IPO Placement Fund Utilization

The Pre-IPO Placement, conducted on July 3, 2025, raised ₹126 crore with specific allocation towards general corporate purposes and issue-related expenses. During Q4FY26, the company utilized ₹3.06 crore specifically for expenses related to the Pre-IPO Placement.

IPO Proceeds Deployment Analysis

The Initial Public Offer, completed between July 24-28, 2025, raised ₹759.60 crore across multiple strategic objectives. The Q4FY26 utilization included ₹17.23 crore for general corporate purposes covering salary and electricity expenses, and ₹19.19 crore for issue-related expenses including TDS deductions.

Fund Management and Compliance

The company noted that some payments were routed from the monitoring account to the company's overdraft account, resulting in co-mingling of funds. However, this did not constitute any deviation from stated objectives. The cumulative amount utilized towards general corporate purposes up to Q4FY26 stood at 5% of total gross proceeds.

The Audit Committee reviewed and considered the monitoring agency report in its meeting held on April 28, 2026. CARE Ratings Limited confirmed no deviations from stated objects during the quarter, with all utilizations verified through bank statements and CA certificates.

Strategic Fund Deployment

With major debt repayment of ₹468.14 crore and land acquisition from Brigade Enterprises Limited worth ₹107.52 crore completed in previous quarters, the company maintains substantial unutilized proceeds. The remaining funds continue to be deployed strategically for inorganic growth opportunities and operational requirements while ensuring full regulatory compliance.

Brigade hotel ventures Limited has formally appointed Kfin Technologies Limited as its Registrar and Transfer Agent (RTA), marking a significant administrative development for the hospitality company. The appointment was disclosed to stock exchanges on April 1, 2026, in compliance with regulatory requirements.

Regulatory Compliance and Disclosure

The company made the disclosure pursuant to Regulation 7 of the Securities and Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III of the Listing Regulations. This regulatory framework mandates listed companies to inform stock exchanges about material changes in their administrative arrangements.

Stock Exchange Communication

Brigade Hotel Ventures Limited communicated this development to both major stock exchanges where its shares are listed. The notification was sent to the National Stock Exchange of India Limited and BSE Limited, ensuring comprehensive market disclosure.

About Kfin Technologies Limited

Kfin Technologies Limited, the newly appointed RTA, holds SEBI registration number INR000000221, which authorizes it to provide registrar and transfer agent services to listed companies. The appointment of a SEBI-registered entity ensures compliance with regulatory standards for shareholder services.

Corporate Information Access

The company has also made this information available on its official website at www.bhvl.in , ensuring transparency and easy access for stakeholders. This digital disclosure complements the formal stock exchange notifications, providing multiple channels for investor information access.