Ventive Hospitality has received the Securities and Exchange Board of India’s (SEBI's) approval to float an initial public offering (IPO). The company's IPO is completely a fresh issue of equity shares with no offer-for-sale (OFS) component. Also, 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 1,600 crore will be used for debt payment. JM Financial, Axis Capital, ICICI Securities, IIFL Securities, Kotak Mahindra Capital Company, SBI Capital Markets and HSBC Securities and Capital Markets (India) are the book running lead managers for the issue.
Ventive Hospitality is a hospitality asset owner primarily focused on luxury offerings across business and leisure segments in India and the Maldives.
