Ventive Hospitality IPO: Blackstone-backed company raises ₹719.5 crore from anchor investors ahead of public issue

Ventive Hospitality Limited raised ₹719.5 crore from anchor investors ahead of the public issue, according to a stock exchange filing by the company on Thursday, December 19.

The luxury hospitality provider has allotted 1,11,90,513 or 1.11 crore equity shares to the anchor investors at an allotment price of ₹643 per share, with a face value of Re 1 each.

The pool of anchor investors for the Ventive Hospitality IPO consists of Quant Mutual Fund, Government Pension Global Fund, Allspring Global Investment LLC, Tata Absolute Return Fund, Aditya Birla India Fund, SBI General Insurance Company Limited, SBI Life Insurance Company Limited, Nuvama, JM Financial Mutual Fund and 360 One Income Opportunities Fund, among other top investors.

According to Thursday’s stock exchange filing by the company, Quant Mutual Fund through Quant Small Cap Fund at 20.57 percent, Government Pension Global Fund at 4.17 percent, Maybank Securities Pte Ltd at 15.01 percent, SBI General Insurance Co. at 3.47 percent. percent, JM Financial at 3.47 percent, were among the top allocations for Ventive Hospitality’s IPO.

The global luxury hotel firm also said that 43.08 percent of the allocation to anchor investors was allocated to four domestic mutual funds through a total of eight schemes.

“The company will use it ₹14,000 million to pay down debt, which will help reduce financing costs and improve earnings for the company going forward,” analysts at Anand Rathi said in an IPO note, recommending the IPO to “in writing for the long term.”

Ventive Hospitality IPO GMP

As of December 19, the gray market premium (GMP) for the public issue of Ventive Hospitality is ₹63 per share. With the highest price range of the issue at ₹643, the public issue is expected to be listed on the stock exchanges of ₹706 per share, a premium of 9.8 percent, according to data collected from Investorgain.com.

The gray market premium (GMP) is an indicator of the willingness of investors to pay more for a public offering. The GMP jumped to ₹63 from the previous level of ₹0 or zero on December 19 after the anchor data was known.

Ventive Hospitality IPO details

Ventive Hospitality Limited is offering, through a book-built issue, a brand new issue of equity shares of Rs 2.49 crore as the company aims to ₹1,600 crore from the stock markets.

The company is a catering provider that mainly focuses on the business and recreational segment. Ventive focuses on developing and managing high-quality luxury hotels and resorts. The properties are operated by Marriott, Hilton, Minor and Atmosphere.

The public issue opens for subscription on Friday, December 20 and closes on Tuesday, December 24. The company has set the price range for the public issue at a range of ₹610 to ₹643 per share, with a lot size of 23 shares per lot. The shares are expected to be listed on the stock exchange on Monday, December 30.

JM Financial Limited, Axis Capital Limited, HSBC Securities & Capital Markets Pvt Ltd, ICICI Securities Limited, IIFL Securities Ltd, Kotak Mahindra Capital Company Limited, SBI Capital Markets Limited are the bookrunners for the public issue, while KFin Technologies is the registrar. for the offer.