December 30, 2024
New Delhi, India
Ventive Hospitality
Ventive Hospitality shares made a strong debut on Monday, listing at ₹718.15 on the BSE, a 12% premium over the IPO issue price of ₹643. On the NSE, the stock opened at ₹716, reflecting an 11.35% premium.
The IPO, which concluded on December 24, 2024, garnered significant investor interest, achieving an overall subscription of 10.33 times. Retail investors subscribed 6.19 times their allotment, while qualified institutional buyers and non-institutional investors subscribed 9.58 and 14.6 times, respectively.
IPO Details and Listing Highlights
- Issue Period: December 20–24, 2024
- Issue Size: ₹1,600 crore (entirely fresh equity issuance)
- Price Band: ₹610–643 per share
- GMP: ₹80, indicating a 12.44% listing premium
- Allotment Date: December 26, 2024
The IPO proceeds will primarily be used to repay or prepay borrowings, including interest accrued, for the company and its subsidiaries, SS & L Beach Private Limited and Maldives Property Holdings Private Limited. Funds will also support general corporate purposes.
Business Overview
Ventive Hospitality, formerly ICC Realty, is a joint venture between Blackstone Group (40% stake) and Panchshil Realty (60% stake). The company specializes in luxury and upscale hospitality assets in India and the Maldives.
As of September 2024, its portfolio includes 11 operational properties with 2,036 keys, managed by global hospitality giants such as Marriott, Hilton, Minor, and Atmosphere.
Key Takeaways
Ventive Hospitality’s successful market debut underscores robust investor confidence, driven by its strategic portfolio, strong brand partnerships, and plans to reduce debt while focusing on growth.
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