Ventive Hospitality Sets IPO Price Band for Luxury Hospitality Expansion

Ventive Hospitality announces its IPO priced between Rs 610-643 per share, opening for public subscription soon. Backed by Blackstone and Panchshil Realty, proceeds will address debt payments. The company owns luxury hospitality assets in India and Maldives, operated by brands like Marriott and Hilton.

Ventive Hospitality has revealed the price band for its imminent initial public offering (IPO), set between Rs 610 and Rs 643 per share. Scheduled to open for public subscription this Friday, the IPO will run until December 24. Anchor investors will have an early bidding window on December 19, according to the company.

This IPO represents a fresh issue of equity shares valued at up to Rs 1,600 crore, with no offer-for-sale component present. The company plans to utilize the net proceeds to reduce its debt, including interest payments accrued over time. Interested investors can place bids starting at 23 shares, with subsequent bids in multiples of 23.

Currently, Ventive Hospitality is a venture between the US-based Blackstone Group and India's Panchshil Realty. Panchshil holds a 60% stake, while Blackstone owns the remaining 40%. The company's substantial portfolio consists of luxury hospitality assets across India and the Maldives, operated by prestigious global brands like Marriott and Hilton.

(With inputs from agencies.)