Ventive Hospitality shares soar nearly 12% in market debut
New Delhi: Shares of Ventive Hospitality Ltd listed with a premium of nearly 12 per cent against the issue price of Rs 643 on Monday.
The stock made its debut at Rs 718.15, a surge of 11.68 per cent from the issue price on the BSE. It later jumped 16.45 per cent to Rs 748.80.
At the NSE, it listed at Rs 716, rallying 11.35 per cent.
The company’s market valuation stood at Rs 16,931.77 crore.
Ventive Hospitality’s initial public offer garnered 9.82 times subscription on the last day of the share sale on Tuesday.
The initial share sale had a price band of Rs 610-643 per share.
The IPO was entirely a fresh issue of equity shares of up to Rs 1,600 crore and had 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.
Ventive Hospitality (formerly ICC Realty) is a joint venture between the US-based Blackstone Group and Panchshil Realty.
It is a hospitality asset owner primarily focused on luxury offerings across business and leisure segments in India and the Maldives.
As of September 2024, the company’s portfolio has 11 operational properties, comprising 2,036 keys across the luxury, upper upscale and upscale segments. All of its assets are operated by or franchised by global operators, including Marriott, Hilton, Minor and Atmosphere.
About the Author
