Ventive Hospitality Files DRHP for Rs.2,000 Crore IPO

Ventive Hospitality Ltd., a joint venture between Panchshil Realty and Blackstone Group, has filed a draft red herring prospectus (DRHP) with SEBI for an initial public offering (IPO) worth Rs.2,000 crore. This Pune-based luxury hospitality firm will raise funds exclusively through a fresh issue of shares, with no offer-for-sale (OFS) component.

IPO & Utilization of Funds

Ventive has big plans for the Rs.2,000 crore it aims to raise. Out of this, Rs.1,600 crore is going to be used for paying down debt, which currently stands at Rs.412.60 crore as of March 2024. There’s also the possibility of a pre-IPO placement of up to Rs.400 crore, which could trim the final issue size. The rest of the funds will be directed toward general corporate purposes.

Ventive’s Portfolio & Operations

Ventive isn’t just another hospitality company — it’s focused on luxury, managing 2,036 hotel keys across 11 operational properties in India and the Maldives. From the JW Marriott and The Ritz-Carlton in Pune to Conrad and Anantara in the Maldives, its portfolio screams luxury. And the growth isn’t stopping anytime soon. Projects in the pipeline include a 167-key Marriott hotel in Varanasi, The Ritz-Carlton Reserve in Sri Lanka, and an expansion of 120 keys at Marriott Aloft in Bengaluru’s Whitefield.

Management & Lead Managers

Panchshil Realty holds a 60% stake in Ventive Hospitality, while Blackstone Group owns the remaining 40%. The IPO is being managed by JM Financial, Axis Capital, ICICI Securities, IIFL Securities, Kotak Mahindra Capital, SBI Capital Markets, and HSBC Securities. KFin Technologies has been appointed as the registrar for the issue.

Conclusion: With a strong portfolio of luxury assets and well-thought-out partnerships with global brands, Ventive Hospitality’s Rs.2,000 crore IPO aims to strengthen its financial position by reducing debt and expanding its reach. The IPO will be listed on both the BSE and NSE, further positioning the company for growth.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.