Ventive Hospitality IPO Day 3 Live Updates: Key Highlights, Subscription Status, and Insights
The Rs 1,600 crore Ventive Hospitality IPO will close on Tuesday, December 24, 2024, after being subscribed to 1.87 times till 11:04 AM. The IPO is a fresh issue of 2.49 crore shares.
Ventive Hospitality IPO: Issue Details
The bidding for Ventive Hospitality IPO started on December 20, 2024, and will conclude today, i.e., December 24, 2024. The allotment date is December 26, 2024, followed by listing on December 30, 2024.
Ventive Hospitality IPO: Subscription Details
December 24, 2024 11:04:10 AM (Day 3)
Ventive Hospitality IPO is offering a total of 2,48,84,119 shares.
Of these,
- 74,60,342 shares (29.98%) are reserved for qualified institutional investors,
- 37,30,171 shares (14.99%) for non-institutional investors,
- 24,86,781 shares (9.99%) for retail investors,
- 16,313 shares (0.07%) for employees, and
- 1,11,90,513 (44.97%) to Anchor investors.
As of the IPO’s third day, the company’s employees had subscribed the most at 6.24 times, followed by Retail Investors with 2.42x. Anchor investors subscribed the least, i.e., 1x, compared to others.
On Day 3, the issue was subscribed 1.87 times with bids for 2,56,09,258 shares against 1,36,93,606 shares offered.
Ventive Hospitality IPO: Price Band and Lot Size
The price band is set between ₹610 to ₹643 per share.
The minimum lot size for an application is 23 shares (1 lot), requiring a minimum investment of ₹14,789 for retail investors. Small Non-Institutional Investors need to invest in at least 14 lots, totalling 322 shares, with a minimum investment of ₹2,07,046. For large Non-Institutional Investors, the minimum investment is 68 lots, equating to 1,564 shares, for a total of ₹10,05,652.
About Ventive Hospitality
Ventive Hospitality is a premier provider of hospitality solutions. It claims to deliver exceptional guest experiences across its hotels, resorts, and serviced apartments in prime locations in India and overseas.
Currently, the company operates 11 hotels and resorts in Pune, Bangalore, and Maldives. These include Courtyard by Marriott, Pune, Marriott Suites, Pune, and Raaya by Atmosphere, Maldives. Their two properties in Varanasi and Sri Lanka are under construction and will soon be operational.
As of March 31st, 2024, the company’s revenue from operations increased by 10.95% to Rs 477.98 crore from Rs 430.81 crore.
The funds raised from the IPO will mainly be used to pay off company borrowings, associated interest, and other costs.
|
Disclaimer: This news is solely for educational purposes. The securities/investments quoted here are not recommendatory. To read the RA disclaimer, please click here |