The grey market premium (GMP) for Ventive Hospitality’s IPO, operator of JW Marriott properties, has risen to ₹45 on the final day of subscription. This represents a 7% premium over the upper IPO price band of ₹643.
Key Details:
- IPO Size: Entirely a fresh issue of up to ₹1,600 crore; no Offer-for-Sale (OFS).
- Subscription Status: As of Day 2, the IPO was subscribed 1.28 times.
- Price Band: ₹610 to ₹643 per share.
- GMP Today: ₹45, up from ₹35 on Monday.
Important Dates:
- Allotment Date: December 26, 2024.
- Listing Date: December 30, 2024, on NSE and BSE.
Company Highlights:
Ventive Hospitality, a joint venture between Blackstone Group (40%) and Panchshil Realty (60%), operates a portfolio of 11 assets, including JW Marriott properties in India and the Maldives. The IPO proceeds will primarily be used to reduce debt and associated interest costs.
This IPO marks a significant step in the company’s growth, leveraging its robust portfolio of business and luxury hotels.
