Ventive Hospitality Seeks to Raise Rs 2000 Cr via IPO to Repay Debt
Ventive Hospitality, a joint venture of Blackstone and Panchshil Realty, files IPO papers with Sebi to raise Rs 2000 crore for debt repayment. Its hospitality assets include Anantara Maldives, Conrad Maldives, JW Marriott, Pune and The Ritz-Carlton, Pune.
Ventive HospitalityIpoSebiBlackstone GroupPanchshil RealtyHospitality AssetsReal Estate PuneSep 10, 2024
The Pune-based company's IPO is completely a fresh issue of equity shares with no offer-for-sale (OFS) component. The company may consider a pre-IPO placement aggregating up to Rs 400 crore. If such placement is undertaken, the issue size will be reduced.
Proceeds of the IPO to the tune of Rs 1600 crore will be used for debt payment. As of March 2024, Ventive Hospitality has a borrowing of Rs 412.60 crore.
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 2036 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.
About Blackstone Group Blackstone Group is a global private equity firm that invests in various sectors including real estate, private equity, and hedge funds.
About Panchshil Realty Panchshil Realty is a real estate company that develops and manages luxury properties in India. The company has a strong presence in Pune and has developed several iconic projects in the city.
Ventive Hospitality is a joint venture between Blackstone Group and Panchshil Realty. The company is a hospitality asset owner primarily focused on luxury offerings across business and leisure segments in India and the Maldives.
Frequently Asked Questions
What is the purpose of Ventive Hospitality's IPO?
The IPO is to raise Rs 2000 crore for debt repayment.
Who are the book running lead managers for the issue?
JM Financial, Axis Capital, ICICI Securities, IIFL Securities, Kotak Mahindra Capital Company, SBI Capital Markets and HSBC Securities and Capital Markets (India) Private Ltd.
What is the current stake of Panchshil Realty in Ventive Hospitality?
Panchshil holds a 60 per cent stake in Ventive.
How many operational hospitality assets does Ventive Hospitality have?
The company has 11 operational hospitality assets comprising 2036 keys.
Who is the private equity firm that has invested in Ventive Hospitality?
Blackstone Group is the private equity firm that has invested in Ventive Hospitality.
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