Ventive Hospitality is likely to finalise the basis of allotment of its shares on Thursday, December 26. Applicant bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Friday, December 27. The hospitality chain saw a decent response from the investors during the bidding process.
The IPO of Pune-based Ventive Hospitality was open for bidding between December 20 and December 24. It had offered its shares in the price band of Rs 610-643 per share with a lot size of 23 shares. The company raised a total of Rs 1,600 crore via IPO, which was entirely a fresh share sale of 2,48,83,358 equity shares.
The issue was overall subscribed a solid 9.80 times. The allocation for the qualified institutional bidders (QIBs) was subscribed 9.08 times The portion allocated for non-institutional investors (NIIs) was subscribed 13.85 times. Allocations for retail investors and employees were booked 5.87 times and 9.49 times, respectively during the three-day bidding process.
The grey market premium (GMP) of Ventive Hospitality has risen following a decent bidding for the pharma player. Last heard, the company was commanding a premium of Rs 70-75 in the unofficial market, suggesting a listing gains of around 11-12 per cent for the investors. The GMP stood at Rs 50-55 on the first day of the bidding.
Incorporated in 2002, Pune-based Ventive Hospitality is in the hospitality business, primarily focusing on business and leisure segments, which primarily focuses on developing and managing high-end luxury hotels and resorts. It had 11 operational hospitality assets in India and the Maldives, with 2,036 keys across various upscale segments as of September 30, 2024.
JM Financial, Axis Capital, HSBC Securities & Capital Markets, ICICI Securities, IIFL Securities, Kotak Mahindra Capital and SBI Capital Markets are the book running lead managers of the Ventive Hospitality IPO, while Kfin Technologies is the registrar for the issue. Shares of the company shall be listed at both BSE and NSE on Monday, December 30.
Investors, who had bid for the issue of Ventive Hospitality, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Ventive Hospitality Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit search button
Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.
1) Go to the web portal of KFin Technologies Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.