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    Ventive Hospitality files draft prospectus with Sebi for Rs 2,000 crore IPO

    Synopsis

    Ventive Hospitality has filed its draft red herring prospectus with Sebi for a Rs 2,000 crore IPO. The company, owning luxury assets operated by global brands like Marriott and Hilton, features 11 assets across India and Maldives.

    Ventive Hospitality files draft prospectus with Sebi for Rs 2,000 crore IPOETMarkets.com
    Ventive Hospitality, a hospitality asset owner with a primary focus on luxury offerings across business and leisure segments, has filed its draft red herring prospectus with market regulator Sebi to raise funds through an IPO.

    The company’s IPO comprises a fresh equity issue of up to Rs 2000 crore.

    Ventive Hospitality is a hospitality asset owner with a primary focus on luxury offerings across business and leisure segments. All of the hospitality assets are operated by or franchised from global operators, including Marriott, Hilton, Minor and Atmosphere.

    The luxury hospitality assets comprise JW Marriott, Pune, The Ritz-Carlton, Pune, Conrad, Maldives, Anantara, Maldives and Raaya by Atmosphere, Maldives. The portfolio comprises 11 operational hospitality assets in India and Maldives, totalling 2,036 keys across the luxury, upper upscale and upscale segments as at March 2024.

    The company has a proven track record of developing and acquiring marquee hotel assets across various geographies and different hospitality segments. Through the development and acquisition-led expansion, they have scaled up the portfolio and forayed into new geographies such as Bengaluru, Varanasi and the Maldives within the past few years.
    Growfast

      In addition to the luxury hospitality assets, they have developed and acquired assets in upper upscale and upscale segments, which serve as complementary offerings in the business hubs of Pune and Bengaluru in India. As of March 2024, the operating portfolio consists of seven hospitality assets with 1,331 keys which were developed by them and four hospitality assets with 705 keys which were acquired by them.

      The luxury hospitality assets collectively contributed to over 80% of the pro forma revenue from hotel operations for FY24, FY23 and FY22. The pro forma revenue and pro forma EBITDA were the highest among listed hospitality asset owners in India in FY24, FY23 and FY22.

      The company believes that they are well-positioned to benefit from growing hospitality demand in conjunction with relatively low new supply in the key markets.

      JM Financial, Axis Capital, HSBC Securities and Capital Markets (India), ICICI Securities, IIFL Securities, Kotak Mahindra Capital Company, SBI Capital Markets are the book running lead managers to the issue.


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      (You can now subscribe to our ETMarkets WhatsApp channel)

      (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2024 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

      Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

      Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

      ...more
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