Upcoming IPO: Ventive Hospitality IPO to open on December 20; GMP, price band and other details in 10 key points

Upcoming IPO: Ventive Hospitality’s initial public offering (IPO) will open for public subscription on Friday, December 20, and will remain open till Tuesday, December 24. The mainboard IPO aims to raise ₹1,600 crore through a fresh issue of 2.49 crore shares, which the company wants to use for the payment of its certain borrowings and general corporate purposes. As the name suggests, Ventive Hospitality operates in the hospitality segment, and it offers luxury offerings across business and leisure segments.

Ventive Hospitality IPO key details

As the mainboard issue opens for subscription on Friday, let’s take a look at the 10 key details of the Ventive Hospitality IPO:

1. Ventive Hospitality IPO GMP: According to stock market sources, the current grey market premium (GMP) of the Ventive Hospitality IPO is nil. This means the stock is trading at par with its issue price in the grey market.

2. Ventive Hospitality IPO price band: The issue’s price band has been set at ₹610 to ₹643 per share.

3. Ventive Hospitality IPO date: The mainboard IPO is opening for subscription on Friday, December 20, and will conclude on Tuesday, December 24.

4. Ventive Hospitality IPO size: The issue has no offer for sale (OFS) component and is entirely a fresh issue of 2.49 crore shares to raise ₹1,600 crore.

5. Ventive Hospitality IPO lot size: The minimum lot size for an application is 23 Shares. With the issue’s upper price band at ₹643, the minimum amount of investment required by retail investors is ₹14,789.

6. Ventive Hospitality IPO allotment date: According to SEBI’s T+3 rule, a company must list its shares three business days after the IPO closing date. Accordingly, share allotment has to be finalised on a T+1 basis. Since the Ventive Hospitality IPO is closing on December 24, the company will finalise the share allotment on Thursday, December 26, as December 25 is a Christmas holiday.

7. Ventive Hospitality IPO book-running lead managers and registrar: 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 book-running lead managers of the IPO, while KFin Technologies is the registrar for the issue.

8. Ventive Hospitality IPO listing: The company’s shares will be listed on the BSE and the NSE on Monday, December 30.

9. Object of the issue: According to the company’s RHP, it wants to use the net proceeds from the issue to pay certain borrowings availed by it and its step-down subsidiaries- SS & L Beach Private Limited and Maldives Property Holdings Private Limited. It will use the net proceeds for general corporate purposes as well.

10. Ventive Hospitality business overview: According to the company’s RHP, it focuses on luxury offerings across business and leisure segments. “All of our hospitality assets are operated by or franchised from global operators, including Marriott, Hilton, Minor and Atmosphere,” it said.

The company’s revenue from operations for FY22 stood at ₹2,291.70 million, which rose to ₹4,308.13 million in FY23 and ₹4,779.80 million in FY24. For the six months ended 30 September of the current financial year, the company’s revenue from operations was ₹3,727.78 million.

Total comprehensive income for FY22, FY23 and FY24 came at ₹297 million, ₹1,312.02 million and ₹1,666.82 million, respectively. However, for the six months ended 30 September of the current financial year, the company suffered a loss of ₹348.66 million.

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