Ventive Hospitality files draft IPO papers with Sebi to raise Rs 20 billion
ECONOMY & POLICY

Ventive Hospitality files draft IPO papers with Sebi to raise Rs 20 billion

Ventive Hospitality, a joint venture between Blackstone Group and Panchshil Realty, on Tuesday filed preliminary papers with capital markets regulator Sebi to raise Rs 20 billion through an initial public offering. The Pune-based company's IPO is completely a fresh issue of equity shares with no offer-for-sale (OFS) component, according to the draft red herring prospectus (DRHP).

Also, the company may consider a pre-IPO placement aggregating up to Rs 4 billion. If such placement is undertaken, the issue size will be reduced. Proceeds of the IPO to the tune of Rs 160 billion e will be used for debt payment. As per the draft papers, Ventive Hospitality has a borrowing of Rs 4.12 billion as of March 2024.

Ventive Hospitality is a hospitality asset owner primarily focused on luxury offerings across business and leisure segments in India and the Maldives. At present, Panchshil holds a 60 per cent stake in Ventive, while Blackstone owns the remaining 40 per cent stake.

As of March 2024, the company's portfolio comprised 11 operational hospitality assets comprising 2,036 keys, of which six are operated by or franchised from Marriott, two are operated by or franchised from Hilton and the remaining three are operated by other hotel operators.

Some of its hospitality assets are Anantara Maldives, Conrad Maldives, JW Marriott, Pune and The Ritz-Carlton, Pune.

JM Financial, Axis Capital, ICICI Securities, IIFL Securities, Kotak Mahindra Capital Company, SBI Capital Markets and HSBC Securities and Capital Markets(India) Private Ltd are the book running lead managers for the issue.

Ventive Hospitality, a joint venture between Blackstone Group and Panchshil Realty, on Tuesday filed preliminary papers with capital markets regulator Sebi to raise Rs 20 billion through an initial public offering. The Pune-based company's IPO is completely a fresh issue of equity shares with no offer-for-sale (OFS) component, according to the draft red herring prospectus (DRHP). Also, the company may consider a pre-IPO placement aggregating up to Rs 4 billion. If such placement is undertaken, the issue size will be reduced. Proceeds of the IPO to the tune of Rs 160 billion e will be used for debt payment. As per the draft papers, Ventive Hospitality has a borrowing of Rs 4.12 billion as of March 2024. Ventive Hospitality is a hospitality asset owner primarily focused on luxury offerings across business and leisure segments in India and the Maldives. At present, Panchshil holds a 60 per cent stake in Ventive, while Blackstone owns the remaining 40 per cent stake. As of March 2024, the company's portfolio comprised 11 operational hospitality assets comprising 2,036 keys, of which six are operated by or franchised from Marriott, two are operated by or franchised from Hilton and the remaining three are operated by other hotel operators. Some of its hospitality assets are Anantara Maldives, Conrad Maldives, JW Marriott, Pune and The Ritz-Carlton, Pune. JM Financial, Axis Capital, ICICI Securities, IIFL Securities, Kotak Mahindra Capital Company, SBI Capital Markets and HSBC Securities and Capital Markets(India) Private Ltd are the book running lead managers for the issue.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code