Ventive Hospitality IPO To Go Live Tomorrow: What GMP Trend Indicates Ahead Of Launch

Blackstone-backed Ventive Hospitality Ltd. will launch its initial public offering on Friday. A day ahead of the subscription going live, Ventive Hospitality IPO struggled to garner much interest in the unlisted market as indicated by its grey market premium.

Ventive Hospitality IPO GMP was nil at 7:23 a.m. on Thursday, according to InvestorGain. This indicates a flat listing over the issue price, meaning the shares may debut on the stock exchanges at Rs 643 per share at the upper end of the price band.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

The Ventive Hospitality IPO is set to open for bidding on Dec. 20 and will remain open until Dec. 24. The share allotment of the issue is expected to be finalised on Dec. 26.

The Rs 1,600-crore issue is an entirely fresh issue of 2.49 crore shares with no offer-for-sale component. 

Ventive Hospitality IPO price band has been set at Rs 610 to Rs 643 per share.  

Retail investors are required to apply for a minimum of 23 shares in a single lot. This takes the minimum investment to subscribe to the issue is Rs 14,789 for each application.

Kfin Technologies Ltd. has been appointed as the registrar for the issue. The book-running lead managers of the offer are JM Financial Ltd., Axis Capital Ltd., HSBC Securities and Capital Markets Pvt., ICICI Securities Ltd., IIFL Securities Ltd., Kotak Mahindra Capital Co., and SBI Capital Markets Ltd.

Shares of Ventive Hospitality Ltd. are likely to list on BSE and NSE on Monday, Dec. 30.

Ventive Hospitality will use Rs 1,400 crore from the fresh proceeds to repay and prepay its debts. The remaining proceeds will be used for general corporate purposes.

Ventive Hospitality Ltd. is a hospitality asset owner specialising in luxury offerings within both the business and leisure segments in India and the Maldives.

The company operates a portfolio of 2,036 hotel keys spanning the luxury, upper upscale, and upscale categories. Its properties include Marriott Suites, DoubleTree by Hilton, Marriott Aloft Whitefield, and Marriott Aloft ORR in Bengaluru.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.