Ventive Hospitality Announces Launch of Initial Public Offering

Ventive Hospitality Ltd. has announced public offering of 24883359 shares at a price of Rs 1.00 each for Cash at a Premium of Rs 642.00 per share. The gross proceeds of the issue are expected to be Rs 1,59,962.70 lakhs.

The company's initial public offer (IPO) will open on 20 December 2024 and is expected to close on 24 December 2024, subject to customary closing conditions. The price band of the issue has been fixed at Rs 610.00-643.00 per share.

The IPO includes a fresh Issue of 24883359 Equity Shares of the Company at an price of Rs 643.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 23 shares with bids in multiples of 23.

Ventive Hospitality Ltd. anticipates using the proceeds of the issue for (a) our Company including payment of interest accrued thereon(b) our stepdown Subsidiaries namely SS & L Beach Private Limited and Maldives Property Holdings Private Limited including payment of interest accrued thereon through investment in such stepdown Subsidiaries General corporate purposes.

ICICI SECURITIES LTD,Axis Capital Ltd.,JM Financial Institutional Securities Limited.,Kotak Mahindra Capital Company Ltd.,HSBC Securities and Capital Markets (India) Privat,SBI Capital Markets Ltd. as lead manager(s) & KFin Technologies Ltd. is the registrar, to the issue.

(PTI)