Ventive Hospitality IPO fully subscribed on day 2 as retail investors, QIBs lead; check key details

Ventive Hospitality IPO: The initial public offer of Ventive Hospitality, which is backed by investment management firm Blackstone, received 1.16 times subscription till 3:05 pm on the second day of bidding on Monday.

According to the consolidated NSE data, the IPO received bids for 1,67,51,498 shares against 1,44,34,453 equity shares on offer.

The portion for qualified institutional buyers (QIBs) received 1.22 times subscription as it received bids for 95,74,233 shares against 78,63,934 shares on offer.

The non-institutional investors category got subscribed 84% with bids for 32,92,956 shares compared to 39,31,967 on offer.

Retail investors' part has been booked 1.46 times as bids were received for 38,15,286 shares against 26,21,311 shares reserved.

Last week, before the IPO, Ventive Hospitality secured ₹719 crore from anchor investors.

The IPO, with a price range of ₹610-₹643 per share, is exclusively a fresh issue worth ₹1,600 crore with no offer-for-sale component.

The funds raised will be used to clear debt and corporate general purposes.

Ventive Hospitality IPO lot size

An investor can bid for at least 23 shares, needing an investment of ₹14,789.

The book-running lead managers are Axis Capital, JM Financial, IIFL Capital Services Ltd, Kotak Mahindra Capital Company, ICICI Securities, HSBC Securities and Capital Markets (India) Pvt Ltd, and SBI Capital Markets. Kfin Technologies is the registrar.

Ventive Hospitality (earlier called ICC Realty) is a joint venture (JV) between the Blackstone Group and Panchshil Realty. Currently, Panchshil holds a 60% stake in Ventive, while the remaining 40% stake is with Blackstone.

The company is a hospitality asset owner that focuses on luxury offerings in the business and leisure segments in India and the Maldives.

It has a portfolio of 11 operational properties, comprising 2,036 keys across the upscale, upper upscale and luxury segments. These assets are operated by or franchised by key operators, including Hilton, Marriott, Atmosphere and Minor.