Ventive Hospitality fixes IPO price band at Rs 610 to Rs 643 per share

Ventive Hospitality Ltd. (Formerly known as ICC Realty (India) Private Ltd.) has announced to enter the capital market with an Initial Public Offer (IPO) of its equity share in the price band of ₹610 to ₹643 per equity share with a face value of ₹1 each.

The IPO at the upper price band will fetch the company ₹1,600 crore. The issue will open on Friday, December 20, 2024 and will close on Tuesday, December 24, 2024.

A discount of ₹30 per equity share is being offered to eligible employees bidding in the Employee Reservation Portion. Bids can be made for a minimum of 23 equity shares and in multiples of 23 shares thereafter. 

The company proposes to utilise the net proceeds towards funding the repayment/prepayment, in part or full, of certain of borrowings availed by the company including payment of interest accrued thereon.

Atul I. Chordia, Chairman, Panchshil Realty and Executive Director, Ventive Hospitality Ltd said: “The proposed IPO is a key milestone for Panchshil and Blackstone in its journey to transform regional hospitality.”

Tuhin Parikh, Head of Real Estate, India, Blackstone said, “We are pleased to work with our long-time partner, Panchshil Realty in the upcoming IPO of Ventive Hospitality having a portfolio of premium hospitality assets that are operated by global hospitality brands.”