Ventive Hospitality Shares Surge on Debut

30 Dec 2024 , 03:00 PM

Following its Monday market debut, Ventive Hospitality’s shares surged 4.3% to Rs 749 on the NSE. With an 11.3% premium, or Rs 73, over the IPO price of Rs 643, the stock made its debut on the NSE at Rs 716.

In the meantime, the stock has increased 16.4% from the issue price.

The business listed for Rs 716 a share, a substantial 11% premium over its issue price of Rs 643, making a quiet debut on the stock market. Only listing gains profits are available to those who participated in the initial public offering (IPO).

Investors had responded sluggishly to Ventive Hospitality’s initial public offering (IPO), with an aggregate subscription of slightly more than ten times at closing.

The JW Marriott in Pune, The Ritz-Carlton in Pune, Conrad in the Maldives, Anantara in the Maldives, and Raaya by Atmosphere in the Maldives are among the upscale hospitality assets. As of March 2024, the portfolio includes 2,036 keys in the luxury, upper-upmarket, and upscale classes, spread among 11 active hotel properties in India and the Maldives.

The business has a track record of building and acquiring prestigious hotel properties in a variety of regions and hospitality markets. In recent years, the company has expanded into new regions like Bengaluru, Varanasi, and the Maldives, scaling up its portfolio through development and acquisition-led growth.

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