Latest News | Ventive Hospitality's Rs 1,600-cr IPO to Open on Dec 20; Price Band at Rs 610-643 Per Share
Get latest articles and stories on Latest News at LatestLY. Ventive Hospitality on Tuesday fixed a price band of Rs 610-643 per share for its initial share sale, which will open for public subscription on Friday.
New Delhi, Dec 17 (PTI) Ventive Hospitality on Tuesday fixed a price band of Rs 610-643 per share for its initial share sale, which will open for public subscription on Friday.
The initial public offering (IPO) is scheduled to conclude on December 24, while the bidding for anchor investors will open for a day on December 19, the company announced.
The IPO is entirely a fresh issue of equity shares of up to Rs 1,600 crore and no offer-for-sale component.
The company proposes to utilise the net IPO proceeds towards funding the debt payment, including payment of interest accrued thereon.
Bids can be made for a minimum of 23 equity shares and in multiples thereafter.
Ventive Hospitality (formerly ICC Realty) is a joint venture between US-based Blackstone Group and Panchshil Realty. At present, Panchshil holds a 60 per cent stake in Ventive, while Blackstone owns the remaining 40 per cent stake.
"We are pleased to work with our long-time partner, Panchshil Realty in the upcoming IPO of Ventive Hospitality Ltd -- having a portfolio of premium hospitality assets that are operated by global hospitality brands," Tuhin Parikh, Head of Real Estate - India, Blackstone, said.
Ventive Hospitality is a hospitality asset owner primarily focused on luxury offerings across business and leisure segments in India and the Maldives.
As of September 2024, the company's portfolio has 11 operational properties, comprising 2,036 keys across the luxury, upper upscale and upscale segments. All of its assets are operated by or franchised from global operators, including Marriott, Hilton, Minor and Atmosphere.
JM Financial, Axis Capital, ICICI Securities, IIFL Securities, Kotak Mahindra Capital Company, SBI Capital Markets and HSBC Securities and Capital Markets (India) Pvt Ltd are the book-running lead managers for the issue.
The equity shares of the company are proposed to be listed on the NSE and BSE.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)