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The initial public offer (IPO) of Ventive Hospitality received bids for 1,02,39,485 shares as against 1,44,34,453 shares on offer, according to stock exchange data at 17:00 IST on Friday (20 December 2024). The issue was subscribed 0.71 times. The issue opened for bidding on 20 December 2024 and it will close on 24 December 2024. The price band of the IPO is fixed between Rs 610 and 643 per share. An investor can bid for a minimum of 23 equity shares and in multiples thereof. The IPO consists of a fresh issue of Rs 1600 crore. Out of the proceeds from the fresh issue, Rs 1400 crore will be used for repayment or prepayment of certain borrowings and the balance towards general corporate purposes. Ahead of the IPO, Ventive Hospitality on Thursday, 19 December 2024, raised Rs 719.54 crore from anchor investors. The board allotted 1.11 crore shares at Rs 643 each to 26 anchor investors. Ventive Hospitality (VHL) is a hospitality asset owner with a primary focus on luxury offerings across business and leisure segments. All of its hospitality assets are operated by or franchised from global operators, including Marriott, Hilton, Minor, and Atmosphere. VHL is a joint venture between Panchshil Realty and Blackstone. The firm reported a consolidated net loss of Rs 137.83 crore and sales of Rs 846.44 crore for the six months ended on 30 September 2024. Powered by Capital Market - Live News
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