HBI Staff | Hyderabad 
Blackstone backed Ventive Hospitality Limited (Formerly known as ICC Realty (India) Private Limited), a hospitality asset owner with a primary focus on luxury offerings across business and leisure segment has uploaded its RHP
The IPO will open on Friday, 20th December 2024 and close on Tuesday, 24th December 2024. Anchor is scheduled for Thursday, 19th December 2024.
The Company’s initial public offering comprises of a fresh issue of Equity Shares of face value of ₹1 each aggregating up to ₹1600 Crores. The total offer size comprises of up to Equity Shares of face value of ₹1 each aggregating up to ₹1600 Crores.
75% of the Net Issue shall be available for allocation on a proportionate basis to Qualified Institutional Buyers, 15% to Non- Institutional Bidders and 10% to Retail Individual Bidders. The Company in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations.
The net proceeds will be used towards the repayment/prepayment, in part or full, of certain of borrowings availed by our Company including payment of interest accrued thereon; our step- down Subsidiaries namely SS & L Beach Private Limited and Maldives Property Holdings Private Limited including payment of interest accrued thereon through investment in such step-down Subsidiaries amounting to Rs 1600 Crores.
Ventive Hospitality Limited, formerly known as ICC Realty (India) Private Limited was founded as the hospitality division of Panchshil Realty, a real estate conglomerate based in Pune which has a presence across the commercial, retail, luxury residential and data center segments. In 2017, pursuant to the acquisition of a 50% stake in the company, BRE Asia (formerly known as Xander Investment Holding XVI Limited), an affiliate of Blackstone, became 50% shareholder in the company.
The portfolio comprises 11 operational hospitality assets in India and Maldives, totaling 2,036 keys across the luxury, upper upscale and upscale segments as at September 30, 2024. The hospitality portfolio includes marquee luxury assets that are operated by global hospitality brands. The company has a demonstrated track record over the last 15 years in developing marquee hospitality assets, executing landmark acquisitions and utilizing its design capabilities to create value in its acquisitions and establish a presence in desirable destinations across the Indian Ocean Region. The company’s pro forma revenue was the third highest in each of FY24 and FY23 and second highest for FY22 and the pro forma EBITDA was the third highest in FY24 and second highest for each of FY23 and FY22 among listed hospitality companies in India.
The company’s premium hospitality assets and Grade A annuity assets, established track record of development and acquisition-led growth in India and the Maldives, renowned promoters with global and local expertise, professional and experienced management team, proven track record of adding value through active asset management as well as long-term ESG commitment put them in a strong position to benefit from strong industry tailwinds.
JM Financial Limited, Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, IIFL Securities Limited, Kotak Mahindra Capital Company Limited, SBI Capital Markets Limited are the Book Running Lead Managers to the issue.
