Hey Pune folks, get ready for some exciting news! Ventive Hospitality Limited, formerly known as ICC Realty (India) Private Limited, is all set to open its initial public offer of Equity Shares on Friday, December 20, 2024. The Anchor Investor Bidding Date is on Thursday, December 19, 2024, just a day before the offer opens. And mark your calendars because the Bid/Offer Closing Date is on Tuesday, December 24, 2024.
The company is looking to raise funds with an offer size of equity shares aggregating up to Rs. 16,000 million. The price band for the issue is set at Rs. 610 to Rs. 643 per equity share, with a discount of Rs. 30 per Equity Share for Eligible Employees in the Employee Reservation Portion.
Atul Chordia, Chairman of Panchshil Realty and Executive Director of Ventive Hospitality Limited, expressed excitement about the upcoming IPO, calling it a key milestone for both Panchshil and Blackstone in their journey to transform regional hospitality. Tuhin Parikh, Head of Real Estate – India at Blackstone, also shared his enthusiasm for working with Panchshil Realty on this venture.
The issue is being made through the Book Building Process, with a significant portion allocated to Qualified Institutional Buyers (QIBs) and Anchor Investors. The company plans to utilize the net proceeds to repay/prepay certain borrowings and interest accrued thereon.
So, if you’re looking to invest, keep an eye out for more details on the IPO from 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, and SBI Capital Markets Limited, who are the Book Running Lead Managers to the issue.
Disclaimer: This announcement is for publication in India only and not for distribution in the United States. The Equity Shares have not been registered under the U.S. Securities Act and may only be offered and sold in compliance with applicable laws. So, stay tuned for more updates on this exciting opportunity!
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