Ventive Hospitality's Stock Soars with IPO Debut

Ventive Hospitality Ltd witnessed a successful stock market debut, with shares rising nearly 10% above the issue price on the BSE and NSE. The company raised funds through a fresh issue IPO to settle debts, backed by its joint venture with Blackstone Group and Panchshil Realty.

Shares of Ventive Hospitality Ltd commenced trading with a notable premium, closing at almost 10% above the issue price of Rs 643.

The stock debuted on the BSE at Rs 718.15, climbing 11.68% from the issue price, and went as high as Rs 748.80 during the day. It ended at Rs 704.55, marking a 9.57% gain.

On the NSE, it opened at Rs 716, showing an 11.35% rise, and closed at Rs 704.35, up by 9.54%. The company's market cap was valued at Rs 16,454.17 crore.

Total traded volumes were 8.42 lakh shares on the BSE and 122.84 lakh shares on the NSE.

The IPO, entirely a fresh issue raising Rs 1,600 crore, received 9.82 times subscription. The funds are intended for debt repayment.

Ventive Hospitality, a joint venture between US-based Blackstone Group and Panchshil Realty, focuses on luxury hospitality in India and the Maldives.

As of September 2024, it operates 11 properties with 2,036 keys, managed by global brands like Marriott and Hilton.

(With inputs from agencies.)