Brigade Enterprises Seeks Shareholder Approval to Raise Borrowing Limit to ₹10,000 Crore at 31st AGM

Brigade Seeks Shareholder Nod for ₹10,000 Crore Borrowing Increase

Brigade Enterprises Limited has convened its thirty-first Annual General Meeting for August 13, 2026 in Bengaluru. At the gathering, the company is seeking shareholder approval to enhance the board's borrowing powers under Section 180(1)(c) of the Companies Act, 2013, lifting the limit to ₹10,000 crore from various lending institutions.

Current Borrowing Position and Capital Needs

Shareholders will vote on increasing the company's borrowing power to ₹10,000 crore from its current total borrowing of ₹3,007 crore as of March 31, 2026. The company is asking shareholders to approve raising the board's borrowing limit to ₹10,000 crore, signaling plans to preserve financial flexibility for future real estate growth.

The enhanced borrowing limit is intended to fund expansion plans and develop its land bank, which stands at 57 million square feet.

Parallel Capital-Raising Initiatives

Beyond the borrowing limit approval, the company plans to issue Non-Convertible Debentures (NCDs) up to ₹1,500 crore and is introducing 'Brigade ESOP 2026' with 6,000,000 options. The NCD issuance is a strategic move to comply with 'Large Corporate' regulations, requiring 25% of qualified borrowings to be funded via debt securities.

A proposed preferential warrant issuance to the promoter group has since been withdrawn. The promoter group entity, Mysore Holdings Private Limited, withdrew its subscription request voluntarily to respect public shareholder sentiments.

Dividend and Governance Matters

At the AGM, shareholders will consider adoption of the audited standalone and consolidated financial statements for the year ended March 31, 2026 and the declaration of a final dividend of ₹2 per equity share. The agenda also includes the rotational reappointment of directors Pradyumna Krishna Kumar and Pavitra Shankar, reinforcing board continuity and adherence to governance norms.

About Brigade Enterprises

Brigade Group (Brigade Enterprises Limited), a listed Bengaluru developer founded in 1986 with 80-plus million sq.ft. delivered, 250-plus projects, and a zero-project-abandonment record. Brigade differentiates through multi-segment integration: no other listed developer combines residential + office + retail + hospitality + the World Trade Center franchise in a single Bengaluru-headquartered listed group, plus a separately-listed hospitality subsidiary (BHVL).

The company has developed many projects in Bengaluru, Chennai, Hyderabad, Mysuru, Kochi, Thiruvananthapuram, and GIFT City. Brigade's FY26 pre-sales were ₹7,424 crore, positioning it as a significant regional player in South India's real estate market.