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Ventive Hospitality IPO is a book-built issue of Rs 1,600.00 crores. The issue is entirely a fresh issue of 2.49 crore shares.
IPO opens for subscription on December 20, 2024, and closes on December 24, 2024. price band is set at ₹610 to ₹643 per share. The minimum lot size for an application is 23 shares.
Company Summary
Incorporated in February 2002, Ventive Hospitality Limited is in the hospitality business, primarily focusing on business and leisure segments. The company primarily focuses on developing and managing high-end luxury hotels and resorts.
As of September 30, 2024, the company has 11 operational hospitality assets in India and the Maldives, with 2,036 keys across various upscale segments.
The company’s hospitality assets are operated by or franchised by global operators such as Marriott, Hilton, Minor and Atmosphere.
The company’s hotels are in prime areas like Pune and Bengaluru, popular tourist spots like the Maldives, and significant spiritual and cultural centers like Varanasi.
The company’s pre-acquisition luxury hospitality asset comprises JW Marriott, Pune, and its post-acquisition luxury hospitality assets comprise JW Marriott, Pune, The Ritz-Carlton, Pune, Conrad, Maldives, Anantara, Maldives and Raaya by Atmosphere, Maldives.
As of September 30, 2024, the company had 2,791 permanent employees and employed 632 personnel on a contract basis across its hospitality assets.
Competitive Strengths
- Premium hospitality assets complemented by Grade A annuity assets
- Established track record of development and acquisition-led growth in India and the Maldives.
- Renowned Promoters with global and local expertise.
- Professional and experienced management team.
- Proven track record of adding value through active asset management.
- Well-positioned to benefit from strong industry tailwinds.
Company Financials
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | _ | 8,794.1 | 8,606.17 | 8,010.41 |
| Revenue | 875.9 | 1,907.38 | 1,762.19 | 1,197.61 |
| Profit After Tax | -137.83 | -66.75 | 15.68 | -146.2 |
| Net Worth | _ | 3,665.83 | 3,657.15 | 3,441.39 |
| Total Borrowing | _ | 3,682.13 | 3,599.66 | 3,291.07 |
Objectives of the company
The Company proposes to utilize the Net Proceeds from the Fresh Issue towards the funding of the following objects:
- Repayment/prepayment, in part or full, of certain borrowings the company availed of.
- For payment of interest accrued thereon.
- Step-down Subsidiaries, namely SS & L Beach Private Limited and Maldives Property Holdings Private Limited, including the payment of interest through investment in such step-down Subsidiaries.
- General corporate purposes.
Promoters of the company
The company’s Promoters are Atul I. Chordia, Atul I. Chordia HUF, Premsagar Infra Realty Private Limited, BRE Asia ICC Holdings Ltd, and BREP Asia III India Holding Co VI Pte. Ltd.
IPO details
| IPO Date | December 20, 2024 to December 24, 2024 |
| Listing Date | Monday, December 30, 2024 |
| Face Value | ₹1 per share |
| Price Band | ₹610 to ₹643 per share |
| Lot Size | 23 Shares |
| Total Issue Size | 2,48,83,358 shares (aggregating up to ₹1,600.00 Cr) |
| Fresh Issue | 2,48,83,358 shares (aggregating up to ₹ 1,600.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
Lot allocation details
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 23 | ₹14,789 |
| Retail (Max) | 13 | 299 | ₹1,92,257 |
| S-HNI (Min) | 14 | 322 | ₹2,07,046 |
| S-HNI (Max) | 67 | 1,541 | ₹9,90,863 |
| B-HNI (Min) | 68 | 1,564 | ₹10,05,652 |
Allotment Schedule
| Basis of Allotment | Thursday, December 26, 2024 |
| Initiation of Refunds | Friday, December 27, 2024 |
| The credit of Shares to Demat | Friday, December 27, 2024 |
| Listing Date | Monday, December 30, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 24, 2024 |
IPO Reservation
| Investor Category | Shares Offered |
| QIB Shares Offered | Not less than 75% of the Net Issue |
| Retail Shares Offered | Not more than 10% of the Net Issue |
| NII (HNI) Shares Offered | Not more than 15% of the Net Issue |
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