Ventive Hospitality sets price band of Rs 610-643 a share for its Rs 1,600-cr IPO

The Pune-based hospitality asset owner will utilise Rs 1,400 crore out of net IPO proceeds for repaying the debt

Ventive Hospitality Ltd, backed by Blackstone and Panchshil Realty, has set a price band of Rs 610-643 a share for its initial public offering that will open on December 20.

The anchor bidding will start on December 19 and the issue will close on December 24. Basis of allotment will be on December 26, refunds and credit of equity shares will be done on December 27. The stock will list on exchanges on December 30.

The issue will be a pure fresh worth Rs 1,600 crore. Real estate developer Panchshil Realty and investment firm Blackstone as promoters own 80.9 percent in the company.

The Pune-based hospitality asset owner will utilise Rs 1,400 crore out of net IPO proceeds for repaying the debt. The total debt on its books as of September 2024 was Rs 3,609.5 crore.

With 11 operational hospitality assets in India and Maldives, totalling 2,036 keys across the luxury, upper upscale and upscale segments. Ventive Hospitality competes with several listed peers like Chalet Hotels, Samhi Hotels, Juniper Hotels, Indian Hotels Company, EIH, Lemon Tree Hotels, and Apeejay Surrendra Park Hotels.

Ventive Hospitality has posted a net loss of Rs 66.7 crore for the fiscal 2024, against a profit of Rs 15.7 crore in the previous year. Revenue during the financial year ended March 2024 stood at Rs 1,842 crore, up 8.4 percent compared to Rs 1,699.4 crore in FY23.

The merchant bankers handling the public issue are JM Financial, Axis Capital, HSBC Securities and Capital Markets (India), ICICI Securities, IIFL Capital Services, Kotak Mahindra Capital Company, and SBI Capital Markets.