Ventive Hospitality sets IPO price range between Rs 610-643, subscription opens December 22

NEW DELHI: Ventive Hospitality on Tuesday announced its initial share sale with a price range of Rs 610-643 per share, with public subscription beginning on Friday. The initial public offering (IPO) will remain open until December 24, while anchor investors can bid on December 19.
The IPO consists solely of fresh equity shares totalling Rs 1,600 crore, without any offer-for-sale component.
The company plans to use the net proceeds from the IPO to settle outstanding debts and associated interest payments.
Investors can subscribe to a minimum of 23 equity shares or multiples thereof.
Ventive Hospitality, previously known as ICC Realty, operates as a joint venture between US-based Blackstone Group and Panchshil Realty, with ownership split at 40% and 60% respectively.
"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," said Tuhin Parikh, Head of Real Estate - India at Blackstone.
The company specialises in owning luxury hospitality assets across business and leisure segments in India and the Maldives.
As of September 2024, their portfolio encompasses 11 operational properties with 2,036 keys spanning luxury, upper upscale and upscale segments. Global operators including Marriott, Hilton, Minor and Atmosphere manage or franchise these properties.
The IPO's book-running lead managers include JM Financial, Axis Capital, ICICI Securities, IIFL Securities, Kotak Mahindra Capital Company, SBI Capital Markets and HSBC Securities and Capital Markets (India) Pvt Ltd.
The company intends to list its equity shares on both NSE and BSE.