Ventive Hospitality Ltd. was incorporated in Mumbai on February 12, 2002. It is a hospitality asset owner focused on luxury offerings in both business and leisure segments. All assets are operated by or franchised by global brands like Marriott, Hilton, Minor, and Atmosphere, including JW Marriott Pune, The Ritz-Carlton Pune, and several properties in the Maldives.
| Bidding Dates |
|---|
| 20 Dec 2024 - 24 Dec 2024 |
| Subscription |
|---|
| 9.8x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,030 | 1 | 13 | 23 | 24.9 M | ₹610 - ₹643 | 88.98 % | ₹15178.8 M - ₹16000.0 M | RHP DOC |
Ventive Hospitality Ltd. IPO SUBSCRIPTION STATUS
24 Dec '24Ventive Hospitality Ltd. IPO overall subscription rate was 9.8 times the total available shares
Ventive Hospitality Ltd. IPO retail subscription rate was 5.87 times in the retail segment
Ventive Hospitality Ltd. IPO non-institutional investor subscription rate was 13.85 times in the non-institutional investor category
Ventive Hospitality Ltd. IPO Qualified Institutional Bidder subscription rate was 9.08 times the available shares for Qualified Institutional Bidder
Ventive Hospitality Ltd. IPO Employees subscription rate was 9.49 times in the Employees category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers | Employees |
|---|---|---|---|---|
| Category Reservation | 10% | 15% | 75% | - |
24 Dec 2024 (Day 3) | 5.87x | 13.85x | 9.08x | 9.49x |
23 Dec 2024 (Day 2) | 1.76x | 1.07x | 1.22x | 4.91x |
20 Dec 2024 (Day 1) | 0.61x | 0.1x | 1.05x | 1.82x |
Ventive Hospitality Ltd. FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY25 | -207.6 | 3,727.8 | 1,308.7 | 1,165.1 | 46.4% |
| FY24 | 1,663.2 | 4,779.8 | 2,650.6 | 2,531.0 | 60.8% |
| FY23 | 1,312.7 | 4,308.1 | 2,152.2 | 1,996.3 | 56.6% |
| FY22 | 294.3 | 2,291.7 | 1,288.9 | 1,183.7 | 52.5% |
Ventive Hospitality Ltd. IPO SUBSCRIPTION STATUS DETAILS
Ventive Hospitality Ltd. had 24.9 M shares on offer
Ventive Hospitality Ltd. IPO offer price was in the range ₹610 - ₹643
Ventive Hospitality Ltd. IPO minimum Investment was ₹14030
Ventive Hospitality Ltd. IPO issue size was ₹ 15178.8 M - ₹ 16000.0 M
Ventive Hospitality Ltd. had a minimum lot size of 23 Shares per application
Ventive Hospitality Ltd. NUMBER OF SHARES ON OFFER
Ventive Hospitality Ltd. IPO IMPORTANT DATES
| Issue Open Date | 20 Dec 2024 |
| Issue close Date | 24 Dec 2024 |
| Allotment Date | 26 Dec 2024 |
| Refund Date | 27 Dec 2024 |
| Demat Account Credit Date | 27 Dec 2024 |
| Listing Date | 30 Dec 2024 |
| Listing on Exchange(s) | NSE and BSE |
| Ventive Hospitality Ltd. Allotment Status | Exchange |
Ventive Hospitality Ltd. IPO subscription opened on 20 Dec 2024, and closed on 24 Dec 2024
IPO allotment for Ventive Hospitality Ltd. was finalized on Thursday, 26 Dec 2024
IPO listing for Ventive Hospitality Ltd. was on NSE and BSE on Monday, 30 Dec 2024
Ventive Hospitality Ltd. IPO LISTING GAINS
| Issue Price (adjusted) | 643.0 |
| Listing Open Price | 716.0 |
| Listing Close Price | 704.4 |
| Listing Gain% | 11.3% |
| Current Gain% | -6.7% |
Ventive Hospitality Ltd. Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Ventive Hospitality Ltd. | 599.9 | 14010.1 | 29.2 | 0.2 | 5.6 | 7.7 | 4 | 2666.1 | 59.4 | 425.6 | 253.8 | 20.5 | 134 |
| Indian Hotels Company Ltd. | 731 | 104052.9 | 48.5 | 5 | 10.4 | 16 | 10.3 | 9971.4 | 16.4 | 2084.4 | 9.3 | 15.1 | 9.7 |
| ITC Hotels Ltd. | 170.6 | 35546 | 41.1 | 1.5 | 8.3 | 7 | 6 | 4331.3 | 19.4 | 816.9 | 28.7 | 4.1 | 26.9 |
| EIH Ltd. | 306.6 | 19170.5 | 26.9 | 6 | 6.3 | 11.9 | 9.6 | 3105.7 | 7.9 | 628.3 | -15 | 11.4 | 4.5 |
| Chalet Hotels Ltd. | 859.7 | 18826.9 | 35.6 | 0.4 | 7.9 | 17.4 | 8.8 | 2812.4 | 60.3 | 645.1 | 352.5 | 24.1 | 85.3 |
| Leela Palaces Hotels & Resorts Ltd. | 518 | 17299 | 39 | 0.2 | 10.8 | 6.3 | 4.5 | 1597.8 | 13.6 | 403.1 | 742.9 | 13.3 | 236.8 |
Ventive Hospitality Ltd. INFORMATION ON IPO ISSUE
About Ventive Hospitality Ltd.
Ventive Hospitality Ltd. was incorporated in Mumbai on February 12, 2002. It is a hospitality asset owner focused on luxury offerings in both business and leisure segments. All assets are operated by or franchised by global brands like Marriott, Hilton, Minor, and Atmosphere, including JW Marriott Pune, The Ritz-Carlton Pune, and several properties in the Maldives.
Object of the Issue
- Re/prepayment in part or full, of certain borrowings.
- General corporate purposes.
Ventive Hospitality Ltd. - PROMOTERS
| Name |
|---|
| Atul I. Chordia |
Ventive Hospitality Ltd. Book Running Lead Managers
JM Financial Limited
ventive.ipo@jmfl.com
Axis Capital Limited
ventive.ipo@axiscap.in
HSBC Securities and Capital Markets (India) Private Limited
ventiveipo@hsbc.co.in
ICICI Securities Limited
ventive.ipo@icicisecurities.com
IIFL Securities Limited
ventive.ipo@iiflcap.com
Kotak Mahindra Capital Company Limited
ventive.ipo@kotak.com
SBI Capital Markets Limited
ventive.ipo@sbicaps.com
Ventive Hospitality Ltd. Registrar to the Issue
KFin Technologies Limited
vhl.ipo@kfintech.com
Ventive Hospitality Ltd. Strengths
Established track record
As of March 31, 2024, the company's portfolio includes seven developed hospitality assets with 1,331 keys and four acquired assets with 705 keys, reflecting its growth through development and acquisitions in India and the Maldives
Well-positioned to benefit from industry tailwinds
The hotel sector significantly boosts India’s economy through GDP growth, investments, employment, foreign exchange earnings, and tax revenues. Demand is fueled by business and leisure travel, staycations, and events like weddings and conferences
Ventive Hospitality Ltd. Risks
Lacks consolidated operating history
The company lacks a consolidated operating history to assess overall performance and has reported pro forma losses in FY24. Failure to successfully integrate and operate acquired properties could negatively impact its business, financial condition, cash flows, and results
Franchisee model
Most of the company's hospitality assets are operated by or franchised by Marriott and Hilton, making up 8 of 11 assets and 78.05% of keys as of March 31, 2024, contributing 50.92% of pro forma income for FY24. Termination or non-renewal of these agreements could adversely affect their business and financial condition
IPO FAQs
The promoter of the company is Atul I. Chordia.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 610.0 - 643.0.
The IPO application opens on Dec 20, 2024 and closes on Dec 24, 2024.
The minimum lot size for the IPO is 23. The maximum lot size for the IPO is 299.
For all category investors, the minimum application amount for this IPO is Rs. 14,030.0, the maximum value for this IPO is Rs 192,257.0.
This IPO will be allotted on Dec 26, 2024.
The refund will be credited to your account on Dec 27, 2024.
The allotted shares will be credited to your demat on Dec 27, 2024.
Ventive Hospitality Ltd.’s shares listed on the stock exchanges on Dec 30, 2024.