Ventive Hospitality IPO to open on December 20, 2024

Ventive Hospitality Limited has announced the opening of its bid/offer in relation to its initial public offer of equity shares on December 20, 2024. The Anchor Investor Bidding Date is one working day prior to bid/offer opening date, December 19, 2024. The bid/ offer closing date is Tuesday, December 24, 2024.

The total offer size of equity shares (face value of Rs 1 each) comprises a fresh Issue of aggregating up to a total offer size of Rs 16,000 million. The price band of the issue is fixed at Rs 610 to Rs 643 per equity share.

A discount of Rs 30 per equity share is being offered to eligible employees bidding in the employee reservation portion. Bids can be made for a minimum of 23 equity shares and in multiples of 23 equity shares thereafter.

The company proposes to utilise the net proceeds towards funding the following objects – the repayment/prepayment, in part or full, of certain of borrowings availed by the Company including payment of interest accrued thereon.

Atul I Chordia, Chairman, Panchshil Realty and Executive Director, Ventive Hospitality Limited said, “The proposed IPO of Ventive Hospitality Limited is a key milestone for Panchshil and Blackstone in its journey to transform regional hospitality.”
Tuhin Parikh, Head of Real Estate – India, Blackstone, added, “We are pleased to work with our long-time partner, Panchshil Realty in the upcoming IPO of Ventive Hospitality Limited – having a portfolio of premium hospitality assets that are operated by global hospitality brands.”

Further, five per cent of the net QIB portion shall be available for allocation on a proportionate basis to Mutual Funds only and the remainder of the net QIB portion shall be available for allocation on a proportionate basis to all QIBs including Mutual Funds, subject to valid bids being received at or above the issue price. However, if the aggregate demand from Mutual Funds is less than five per cent of the net QIB portion, the balanced Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining QIB Portion for proportionate allocation to QIBs.

Further, not more than 15 per cent of the net issue shall be available for allocation to Non- Institutional Bidders of which one third portion shall be reserved for Bidders with application size of more than Rs 200,000 and up to Rs 1,000,000; and two-thirds of the portion shall be reserved for Bidders with application size of more than Rs one million, provided that the unsubscribed portion in either of such sub-categories may be allocated to bidders in other sub-category of the NIBs in accordance with SEBI ICDR Regulations and not more than 10 per cent of the Net Issue shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid bids being received from them at or above the issue price.

JM Financial Limited, Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, IIFL Securities Limited, Kotak Mahindra Capital Company Limited and SBI Capital Markets Limited are the book running lead managers to the issue.