Ventive Hospitality shares jump nearly 10 pc in market debut

     New Delhi, Dec 30 (PTI) Shares of Ventive Hospitality Ltd ended with a premium of nearly 10 per cent against the issue price of Rs 643 on Monday.
     The stock made its debut at Rs 718.15, a surge of 11.68 per cent from the issue price on the BSE. During the day, it jumped 16.45 per cent to Rs 748.80. Shares of the firm ended at Rs 704.55 apiece, up 9.57 per cent.
     On the NSE, it listed at Rs 716, rallying 11.35 per cent. The stock ended at Rs 704.35, climbing 9.54 per cent.
     The company's market valuation stood at Rs 16,454.17 crore.
     In volume terms, 8.42 lakh shares of the firm were traded on the BSE and 122.84 lakh shares on the NSE during the day.
     Ventive Hospitality's initial public offer garnered 9.82 times subscription on the last day of the share sale on Tuesday.
     The initial share sale had a price band of Rs 610-643 per share.
     The IPO was entirely a fresh issue of equity shares of up to Rs 1,600 crore and had no offer-for-sale component.
     The company proposes to utilise the net IPO proceeds towards funding the debt payment, including payment of interest accrued thereon.
     Ventive Hospitality (formerly ICC Realty) is a joint venture between US-based Blackstone Group and Panchshil Realty.
     It is a hospitality asset owner primarily focused on luxury offerings across business and leisure segments in India and the Maldives.
     As of September 2024, the company's portfolio has 11 operational properties, comprising 2,036 keys across the luxury, upper upscale and upscale segments. All of its assets are operated by or franchised by global operators, including Marriott, Hilton, Minor and Atmosphere.

(This story has not been edited by THE WEEK and is auto-generated from PTI)