The Ventive Hospitality IPO is a book-built offering with a total issue size of ₹1,600 crore. This comprises a fresh issue of 2.49 crore shares.
The IPO subscription period begins on December 20, 2024, and concludes on December 24, 2024. The allotment of shares is scheduled for finalization on December 26, 2024, while the listing is expected to occur on December 30, 2024, on both the BSE and NSE.
The price band for the IPO is set between ₹610 and ₹643 per share. Retail investors can apply with a minimum lot size of 23 shares, requiring an investment of ₹14,789. For small non-institutional investors (sNII), the minimum application size is 14 lots (322 shares), amounting to ₹2,07,046, while for big non-institutional investors (bNII), it is 68 lots (1,564 shares), requiring an investment of ₹10,05,652.
The book-running lead managers for the Ventive Hospitality IPO include JM Financial Limited, Axis Capital Limited, HSBC Securities & Capital Markets Pvt Ltd, ICICI Securities Limited, IIFL Securities Ltd, Kotak Mahindra Capital Company Limited, and SBI Capital Markets Limited. KFin Technologies Limited serves as the registrar for the issue.
Ventive Hospitality 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) |
| Employee Discount | 30.00 |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 20,86,57,830 shares |
| Share Holding Post Issue | 23,35,41,188 shares |
Ventive Hospitality IPO Timeline (Tentative Schedule)
| IPO Open Date | Friday, December 20, 2024 |
| IPO Close Date | Tuesday, December 24, 2024 |
| Basis of Allotment | Thursday, December 26, 2024 |
| Initiation of Refunds | Friday, December 27, 2024 |
| 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 |
Ventive Hospitality IPO Lot Size
Investors are required to bid for at least 23 shares, with additional bids to be placed in multiples of this number. The table below illustrates the minimum and maximum investment limits for retail investors and High Net-Worth Individuals (HNIs) in terms of both the number of shares and the corresponding amount.
| 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 |
Ventive Hospitality 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 |
Category Reservation Detail Table
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Up to Rs 5 Lakhs | Yes |
| Employee + RII/NII |
|
Yes for shareholder/RII |
Ventive Hospitality IPO Promoter Holding
The promoters of the company include 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.
| Share Holding Pre Issue | 99.59% |
| Share Holding Post Issue |
About Ventive Hospitality Limited
Ventive Hospitality Limited, established in February 2002, operates in the hospitality sector, focusing on both business and leisure markets. The company specializes in developing and managing luxury hotels and resorts.
As of September 30, 2024, Ventive Hospitality Limited manages 11 operational properties across India and the Maldives, offering 2,036 keys in various premium categories.
The company’s hospitality assets are managed or franchised by renowned global operators, including Marriott, Hilton, Minor, and Atmosphere. These properties are strategically located in prime urban centers like Pune and Bengaluru, popular tourist destinations such as the Maldives, and cultural and spiritual hubs like Varanasi.
The luxury portfolio includes the pre-acquisition asset JW Marriott, Pune, and post-acquisition assets like JW Marriott, Pune; The Ritz-Carlton, Pune; Conrad, Maldives; Anantara, Maldives; and Raaya by Atmosphere, Maldives.
By September 30, 2024, the company employed 2,791 permanent staff members and 632 contractual personnel across its properties.
Competitive Advantages
- High-end hospitality portfolio with Grade A annuity assets
- Strong track record of growth through development and acquisitions in India and the Maldives
- Experienced promoters with local and global expertise
- A professional and seasoned management team
- Demonstrated success in enhancing asset value through active management
- Positioned to capitalize on favorable industry trends
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 | |||||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
The market capitalization of Ventive Hospitality’s IPO stands at ₹15,016.70 crore, based on key performance indicators as of Sunday, March 31, 2024.
| KPI | Values |
|---|---|
| RoNW | -1.82% |
| Price to Book Value | 3.66 |
Objects of the Issue (Ventive Hospitality IPO Objectives)
- Repayment or prepayment, either partially or fully, of specific borrowings taken by the company.
- Payment of accrued interest on these borrowings.
- Investments in its step-down subsidiaries, SS & L Beach Private Limited and Maldives Property Holdings Private Limited, to cover their borrowings and associated interest payments.
- Allocation for general corporate purposes.
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