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Brigade Enterprises (BEL) has approved to issue share warrants worth ₹180 crore to a promoter entity

ICICIdirect Research 16 Jul 2026 DISCLAIMER

News: Brigade Enterprises (BEL) has approved to issue share warrants worth ₹180 crore to a promoter entity, the warrants are exercisable in the next 18 months. The warrants are issued at a price of ₹526 per warrant a 6.2% discount as against the closing price of ₹561 per share on Wednesday. The company has also approved to raise ₹1500 through non convertible debentures on private placement basis. 

View: The fund infusion by the promoters and through NCDs is likely to provide requisite growth capital to the company for its ongoing capex in annuity business, new business development and ongoing project execution. As of FY26 Brigade had net debt of ₹ 2278 crore and net debt equity ratio of 0.27x. The gross debt for the Leasing business forms 90% of total gross debt and rest 10% is from the real estate business. For the leasing business the company is undergoing a capex of ₹ 1636 crore of which ₹ 921 crore is yet to be incurred. Moreover it has a land bank of 551 acre with a cost of ₹ 4769 crore of which ₹880 crore is payable. The company aspires to achieve 20% YoY growth in pre-sales in FY27E and targets to grow leasing rentals to ₹2000 crore in 6 years from ₹1300 crore in FY26.

Impact: Positive

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