Ventive Hospitality IPO opens on December 20; check price band, lot size & more

The initial public offering (IPO) of Ventive Hospitality opens for bidding on Friday, December 20. The company shall be offering its shares in the range of Rs 610-643 apiece. Investors can apply for a minimum of 23 equity shares and its multiples thereafter. Bidding for the issue shall conclude on Tuesday, December 24.

Incorporated in February 2002, Pune-based Ventive Hospitality is in the hospitality business with a primary focus on business and leisure segments. The company primarily focuses on developing and managing high-end luxury hotels and resorts.

Ventive Hospitality is looking to raise a total of Rs 1,600 crore via its IPO, which is entirely a fresh share sale. The net proceeds from the issue shall be utilized towards repayment/prepayment of certain of borrowings availed by the company and its subsidiaries: for payment of interest accrued; and general corporate purposes.

Ventive Hospitality has 11 operational hospitality assets in India and the Maldives, with 2,036 keys across various upscale segments as of September 30, 2024. The company's hospitality assets are operated by or franchised by global operators such as Marriott, Hilton, Minor and Atmosphere.

The company’s hotels are located in prime areas like Pune and Bengaluru, popular tourist spots such as the Maldives, and significant spiritual and cultural centres like Varanasi. Anchor book for the issue opens on Thursday, December 19.  Shares of the company shall be listed on both BSE and NSE on Monday, December 30.

For the six months ended on September 30, 2024, Ventive Hospitality reported a net loss of Rs 137.83 crore with a revenue of Rs 875.9 crore. The company's net loss came in at Rs 66.75 crore with a revenue of Rs 1,907.38 crore for the financial year 2023-24.

Ventive Hospitality has reserved shares worth Rs 1 crore to the eligible employees of the company, who will get a discount of Rs 30 per share. 75 per cent of the net issue has been reserved for qualified institutional bidders (QIBs), while non-institutional investors (NIIs) will get 15 per cent of allocation. However, retail investors will get the remaining 10 per cent of the net issue.

JM Financial, Axis Capital, HSBC Securities & Capital Markets, ICICI Securities, IIFL Securities, Kotak Mahindra Capital Company, SBI Capital Markets are the book running lead managers of the Ventive Hospitality IPO, while Kfin Technologies is the registrar for the issue.