Latest News | Ventive Hospitality IPO Gets Subscribed 1.28 Times on Day 2 of Offer

New Delhi, Dec 23 (PTI) The initial share sale of Ventive Hospitality Ltd got 1.28 times subscription on the day two of bidding on Monday.

The Initial Public Offer (IPO) received bids for 1,84,68,011 shares, as against 1,44,34,453 shares on offer, according to NSE data.

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Retail Individual Investors (RIIs) portion attracted 1.76 times subscription, while the quota for Qualified Institutional Buyers (QIBs) got subscribed 1.22 times. The Non-Institutional Investors part received 1.07 times subscription.

Blackstone-backed Ventive Hospitality on Thursday said it has mobilised Rs 719 crore from anchor investors.

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The issue, with a price band of Rs 610-643 per share, will conclude on December 24.

The IPO is entirely a fresh issue of equity shares of up to Rs 1,600 crore and has 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.

Ventive Hospitality (formerly ICC Realty) is a joint venture between the 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.

It 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 Capital Services Ltd (Formerly known as IIFL Securities Ltd), 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.

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