Ventive Hospitality raised ₹719 crore from anchor investors

20 Dec 2024 , 11:19 AM

The ₹1600 crore initial public offer (IPO) of Ventive Hospitality has raised ₹719.5 crore from the anchor book on December 19. The issue has opened for subscription from December 20 to December 24. The company has set the issue price for the IPO at ₹610-643 per shares and subscribe 23 shares in a lot.

The Pune-based company has finalised the allocation of 1.11 crore shares to anchor investors at a price of ₹643 per share. The top global investors include Government Pension Fund Global, Florida Retirement System, ABSL Umbrella Ucits Fund, Citigroup Global, Societe Generale, Copthall Mauritius Investment, and Tocu Europe.

The domestic anchor investors included Quant Mutual Fund, SBI General Insurance, SBI Life Insurance, Tata Alternative Investment Fund, JM Financial MF, Nuvama, Samco MF, and Trust MF.

The company aims to use the net proceeds from the IPO towards repayment of debt and for other general corporate purposes.

JM Financial, Axis Capital, HSBC Securities and Capital Markets, ICICI Securities, IIFL Capital Services, Kotak Mahindra Capital Company, and SBI Capital Markets are the book running lead managers to the IPO.