Ventive Hospitality Limited Receives SEBI Nod for INR 2,000 Cr IPO The IPO is managed by a syndicate of top-tier book-running lead managers, including JM Financial, Axis Capital, HSBC Securities, ICICI Securities, IIFL Securities, Kotak Mahindra Capital, and SBI Capital Markets.
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Ventive Hospitality Limited, formerly ICC Realty (India) Private Limited, has secured approval from the Securities and Exchange Board of India (SEBI) for its proposed INR 2,000 crore initial public offering (IPO). The IPO comprises a fresh issuance of equity shares with a face value of INR 1 each.
Founded as the hospitality arm of Panchshil Realty, a Pune-based real estate conglomerate, Ventive Hospitality has emerged as a prominent player in luxury hospitality assets. In 2017, Blackstone affiliate BRE Asia acquired a 50% stake in the company, underscoring its appeal to global investors.
The company operates a diverse portfolio of luxury hotels and resorts, managed by prestigious global brands such as Marriott, Hilton, Minor, and Atmosphere. Its flagship properties include JW Marriott and The Ritz-Carlton in Pune, Conrad and Anantara in the Maldives, and Raaya by Atmosphere in the Maldives. As of March 31, 2024, Ventive's portfolio spans 11 operational assets across India and the Maldives, with a combined capacity of 2,036 keys—significantly up from just 83 keys in 2007.
Ventive's focus on luxury assets has driven over 80% of its pro forma revenue from hotel operations for FY24, FY23, and FY22. The company reported one of the highest pro forma revenue and EBITDA figures among listed hospitality players in India during this period.
To sustain its growth momentum, Ventive plans to add 367 keys—an 18.02% increase—to its portfolio by FY28. Upcoming projects include expansions in Varanasi, Bengaluru, and Sri Lanka's Pottuvil region near Yala East National Park.
The IPO is managed by a syndicate of top-tier book-running lead managers, including JM Financial, Axis Capital, HSBC Securities, ICICI Securities, IIFL Securities, Kotak Mahindra Capital, and SBI Capital Markets.
