Ventive Hospitality Gets IPO Approval From SEBI To Raise Rs 2,000 Cr

The Securities and Exchange Board of India (SEBI) has approved Ventive Hospitality Limited's proposed initial public offering (IPO). Previously known as ICC Realty (India) Private Limited, this hospitality asset owner specialises in luxury offerings for both business and leisure segments. A fresh issue of equity shares with a face value of Rs 1 apiece, totalling up to Rs 2000 crores, is part of the company's IPO.

The book-running lead managers for the offer are JM Financial Limited, Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, IIFL Securities Limited, Kotak Mahindra Capital Company Limited, and SBI Capital Markets Limited. Ventive Hospitality plans on funding the growth of its hospitality portfolio using the money raised from the IPO. A draft red herring prospectus for an initial public offering (IPO) of up to Rs 2,000 crore was submitted to the Securities and Exchange Board of India (SEBI) in September 2024 by Ventive Hospitality Ltd, a joint venture between Panchshil Realty and Blackstone.

Luxury offerings in the business and leisure sectors are the main emphasis of Ventive Hospitality Limited, a hospitality asset owner. Global operators such as Marriott, Hilton, Minor, and Atmosphere operate or franchise all of the hospitality assets.

As of March 31, 2024, the operational portfolio includes four hospitality properties with 705 keys that they purchased and seven hospitality assets with 1,331 keys that they established. They have added 1,070 keys since 2019 as part of the company's expansion, which accounts for almost half of the total number of keys in the portfolio as of March 31, 2024.

Through scheduled development and expansion initiatives in Varanasi, Uttar Pradesh and Bengaluru, Karnataka, India, and Pottuvil, near Yala East National Park and Arugam Bay Beach, Sri Lanka, the company intends to grow the number of keys across the hospitality assets by a projected 367 keys, or 18.02%, from 2,036 keys as of March 31, 2024, to approximately 2,403 keys in FY2028. The company intends to continue concentrating on its primary competency of developing luxury and upscale hospitality assets.