The initial public offering (IPO) of Ventive Hospitality Ltd, a hospitality asset owner, opened for subscription on December 21 and will close on December 24. The IPO has garnered attention in the unlisted market, with shares commanding a modest grey market premium (GMP).
IPO Details:
- Issue Type: Entirely a fresh issue
- Issue Size: ₹1,600 crore
- Price Band: ₹610–₹643 per share
- Lot Size: 23 shares (minimum investment: ₹14,789)
- Bidding Period: December 21–24, 2024
Grey Market Premium (GMP):
- As of December 23, Ventive Hospitality shares are trading at a GMP of ₹29 above the upper price band of ₹643.
- Estimated listing price based on GMP: ₹672, reflecting a 4.51% premium.
IPO Allotment and Listing Dates:
- Allotment Date: December 26, 2024
- Credit to Demat Accounts: December 27, 2024
- Listing Date: Likely December 30, 2024
Use of Proceeds:
The company plans to utilize the net proceeds from the IPO for debt repayment, including the interest accrued on its borrowings.
About Ventive Hospitality:
Ventive Hospitality (formerly ICC Realty) is a joint venture between Panchshil Realty (60% stake) and the US-based Blackstone Group (40% stake). The company focuses on luxury hospitality assets across business and leisure segments in India and the Maldives.
- Portfolio as of September 2024:
- 11 operational properties with 2,036 keys.
- Partnerships with global operators such as Marriott, Hilton, Minor, and Atmosphere.
- Properties span luxury, upper-upscale, and upscale segments.
