Ventive Hospitality Sets IPO Price Range and Subscription Dates

Ventive Hospitality, a joint venture between US-based Blackstone Group and Panchshil Realty, has announced its initial public offering (IPO) with a price range of Rs 610-643 per share. The public subscription will commence on December 22 and remain open until December 24, while anchor investors can bid on December 19.

The IPO consists solely of fresh equity shares totaling Rs 1,600 crore, with no offer-for-sale component. The company plans to use the net proceeds 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, specializes in owning luxury hospitality assets across business and leisure segments in India and the Maldives. As of September 2024, their portfolio includes 11 operational properties with 2,036 keys spanning luxury, upper upscale, and upscale segments. Global operators such as 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 the NSE and BSE.