Ventive Hospitality Soars with 12% Premium on Market Debut

Ventive Hospitality Ltd shares surged nearly 12% on their market debut, trading at Rs 718.15 on BSE, significantly above the issue price. The IPO, with a price band of Rs 610-643, attracted 9.82 times subscription and raised Rs 1,600 crore, primarily for debt repayment purposes.

Ventive Hospitality Ltd made a significant entrance into the stock market, listing with nearly a 12% premium over its issue price of Rs 643. The debut saw the stock trading at Rs 718.15 on the BSE, reflecting an 11.68% increase.

On the NSE, shares opened at Rs 716, marking an 11.35% rally. The company's market value reached Rs 16,931.77 crore after receiving 9.82 times subscription in its initial public offering, which concluded on Tuesday.

The IPO, set with a price band of Rs 610-643 per share, aimed to raise Rs 1,600 crore through a fresh issue of equity shares, with proceeds geared towards debt repayment. Ventive, a joint venture between Blackstone Group and Panchshil Realty, boasts a portfolio of 11 luxury properties in India and the Maldives.

(With inputs from agencies.)