Ventive Hospitality's IPO Subscription Details on Day 1

20 Dec 2024 , 11:54 AM

Ventive Hospitality’s public issue to raise ₹1,600 crore opened for subscription on December 20, 2024, by a fresh issue of 24.9 million shares. The IPO price band has been set at ₹610-₹643 per share. The minimum lot size is 23 shares. A retail investor will need a minimum of ₹14,789 to place a bid for one lot (23 shares).

At the time of writing at 11:42 am, on December 20, 2024, Ventive Hospitality IPO has received a total subscription of 0.05 times, the Retail Individual Investors (RII) portions has subscribed 0.25 times, the Non Institutional Investors received a total bid of 0.03 times, and the Qualified Institutional Buyers are yet to be subscribed.

The subscriptions for the IPO close on 24 December 2024. Allotments shall be held on 26 December 2024. Share Credits to your respective demat accounts in all likelihood to happen by December 27, 2024.

The equity shares are proposed to be listed on BSE and NSE on December 30, 2024. Ventive Hospitality has raised ₹719.55 crore from anchor investors prior to the IPO on December 19, 2024.

The proceeds will be utilized for repayment of borrowings of the company and its subsidiaries SS & L Beach Private Limited and Maldives Property Holdings and general corporate purposes. IPO stakeholders also include the registrar Kfin Technologies, lead managers including JM Financial, Axis Capital, HSBC Securities, ICICI Securities and others.