Brigade Enterprises has raised ₹200 crores through commercial papers to meet its short-term funding requirements. The real estate developer disclosed this issuance to stock exchanges on December 19, 2025, in compliance with SEBI regulations.

Key Highlights of the Issuance

The commercial papers were allotted on December 18, 2025, with a 90-day maturity period ending on March 18, 2026. The instruments carry a face value of ₹100 per security and a discounting rate of 6.83%. The commercial papers have been assigned an A1+ credit rating, reflecting the company's strong creditworthiness and minimal credit risk. The issuance has been identified with ISIN INE791I14012 for tracking purposes.

The entire issue of ₹200 crores has been subscribed by Kotak Mahindra Bank Limited, demonstrating strong institutional confidence in Brigade's financial health. The instruments are unsecured in nature, meaning no assets have been pledged as collateral, which is typical for highly-rated issuers with strong credit profiles.

Understanding Commercial Papers

Commercial papers are short-term debt instruments that companies use to manage working capital needs. Brigade's issuance at 6.83% represents a cost-effective borrowing option compared to traditional bank loans. The A1+ rating—the highest for short-term debt—indicates the highest degree of safety regarding timely payment of financial obligations and strong repayment capability.

With a 90-day tenor, this issuance aligns with typical working capital cycles in the real estate sector, providing the company with flexibility without long-term debt commitments. The payment of principal is scheduled at the end of maturity on March 18, 2026, allowing Brigade Enterprises to effectively manage its cash flows over the next quarter.

Regulatory Compliance

The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Brigade Enterprises trades under the symbol 'BRIGADE' on the National Stock Exchange of India and carries scrip code 532929 on BSE Limited. The commercial papers will not be listed on any stock exchange, which is standard practice for such short-term debt instruments.

P. Om Prakash, Company Secretary and Compliance Officer of Brigade Enterprises Limited, authorized the disclosure. The company has confirmed that there are no special rights, interests, or privileges attached to the instrument, and no delays or defaults in payment are applicable. Complete details about the issuance are available on the company's website at www.brigadegroup.com .

Financial Implications

This fundraise allows Brigade Enterprises to optimize its capital structure while maintaining adequate liquidity for operational requirements. The competitive discounting rate of 6.83% reflects the company's strong market standing and ability to access funds at favorable terms. The unsecured nature of the issuance, combined with the A1+ rating, underscores the market's confidence in the company's financial stability and operational performance in the real estate sector.

Brigade Hotel Ventures Limited has disclosed to stock exchanges that the Income Tax Department conducted a survey at its registered office from December 9 to December 13, 2025. The company made the disclosure under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Survey Details and Timeline

The Income Tax Department initiated the survey under Section 133A of the Income Tax Act, 1961. The survey operations spanned five days at the company's registered office located at World Trade Center, Brigade Gateway Campus, Bengaluru.

Company Response and Operations

Brigade Hotel Ventures extended its full cooperation with the authorities throughout the survey period. The company provided all necessary documents requested by the Income Tax Department officials. The hospitality company emphasized that its business operations continued as usual during the survey period and were not impacted by the proceedings.

Current Status and Regulatory Compliance

The company has made mandatory disclosures as required under SEBI regulations. The disclosure was made in compliance with Regulation 30 of the SEBI Listing Regulations, read with Para A of Part A of Schedule III, and SEBI Master Circular dated November 11, 2024.

The intimation was signed by Nirupa Shankar, Managing Director, and communicated to both NSE and BSE. The company has also hosted the information on its official website at www.bhvl.in as per regulatory requirements. Brigade Hotel Ventures operates in the hotels and restaurants sector and is listed on both the National Stock Exchange and Bombay Stock Exchange.