Ventive Hospitality IPO gets subscribed 71% on Day 1; QIBs, retail lead; Check GMP

Ventive Hospitality shares are likely to be allotted on December 26, while the listing is proposed to take place on December 30.

Ventive Hospitality IPO opened for the public subscription in the primary market on December 20.

The initial share sale of Blackstone-backed Ventive Hospitality received bids for 1.02 crore shares against 1.44 crore shares on offer, reflecting 71 percent public subscription, as per NSE data.

Retail individual investors (RIIs) part attracted 61 percent subscription while the quota for non-institutional investors got subscribed 10 percent. The category for qualified institutional buyers (QIBs) received 1.05x subscription.

Earlier, it mobilised Rs 719 crore from anchor investors.

The issue, with a price band of Rs 610-643 per share, opened for public subscription on December 20 and will conclude on December 24.

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The IPO is entirely a fresh issue of equity shares of up to Rs 1,600 crore and no offer-for-sale component.

The company proposes to utilise the net IPO proceeds towards funding the debt payment, including payment of interest accrued thereon.

Bids can be made for a minimum of 23 equity shares and in multiples thereafter.

Ventive Hospitality (formerly ICC Realty) is a joint venture between US-based Blackstone Group and Panchshil Realty. At present, Panchshil holds a 60 percent stake in Ventive, while Blackstone owns the remaining 40 per cent stake.

It is a hospitality asset owner primarily focused on luxury offerings across business and leisure segments in India and the Maldives.

Ventive Hospitality shares are likely to be allotted on December 26, while the listing is proposed to take place on December 30.

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