Ventive Hospitality, a joint venture between Blackstone Group and Panchshil Realty, has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise Rs 2,000 crore through 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.
Company Name | CMP |
---|---|
Indian Hotel | 854.00 |
EIH | 412.20 |
Chalet Hotels | 977.00 |
Mahindra Holi.&Resor | 360.90 |
Lemon Tree Hotels | 153.55 |
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