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.

Next Story
Real Estate

We are executing data-centre projects in MMR region: Paradigm Realty

Certain areas of Mumbai showcase tremendous opportunity for redevelopment, as Parthh K Mehta, CMD, , explains. He speaks about his company’s plans for this region, adherence to quality, use of technology and its strategies and plans for data centres and further expansion going forward. Excerpts:According to a Knight Frank India report, there's been a noteworthy rise in property registrations in Central and South Mumbai and Bandra and Worli showcase the opportunity for redevelopment. Does the group have any plans for this region? We recognise that Mumbai as a city is continuall..

Next Story
Real Estate

Windows to world

India’s current crop of tall and super tall buildings has an advantage over predecessors: openable windows. Codal provisions and ensuing market developments are behind this change. “Until a decade or so ago, we lacked designs and products enabling openable windows for glass façades,” explains Rajan Govind, Director, Facade+Construction Tech Specialist, BES Consultants. “It is only more recently that the National Building Code 2016 has released detailed façade requirements, which make openable windows mandatory.”The National Building Code 2016 mandates 10 per cent openable..

Next Story
Real Estate

New Terminal Building – Kolhapur Airport

On 10 March 2024, Prime Minister Narendra Modi officially inaugurated the new terminal building at Kolhapur Airport. The terminal is part of a broader development initiative valued at about Rs 2.56 billion, which includes the construction of the terminal, runway extensions, new apron and parking bays. Designed by Gian P Mathur Architects & Planners (GPM), the terminal's architecture draws inspiration from Kolhapur’s heritage and has earned a four-star GRIHA rating.Design and featuresDiscussing the design brief, Anil Shinde, Kolhapur Airport Director, Airports Authority of India (AAI), sa..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000