Chandigarh, December 21, 2024: Blackstone-backed Ventive Hospitality Limited, has allotted 1,11,90,513 Equity Shares to 26 anchor investors and raised ₹ 719.55 Crores ahead of the company’s proposed IPO at the upper end of the price band at ₹ 643 per equity share (including premium of ₹ 643 per equity shares) with a face value of ₹ 1 per equity share. The anchor has received a 2X subscription.
Out of the total allocation of 1,11,90,513 Equity Shares to the Anchor Investors, 48,21,122 Equity Shares(i.e. 43.08% of the total allocation to Anchor Investors) were allocated to 4 domestic mutual funds through a total of 8 schemes.
The anchor received strong demand from mutual funds, insurance companies, long only funds, and sovereign and domestic wealth funds. It is an optimum mix of domestic and foreign investors. A few of the marquee investors include Government Pension Global Fund, Allspring Global Investment LLC, Tata Absolute Return Fund, Quant Mutual Fund, Aditya Birla India Fund, SBI General Insurance Company Limited, SBI Life Insurance Company Limited, Nuvama, JM Financial Mutual Fund and 360 One Income Opportunities Fund.
The total offer size of equity shares (face value of Rs. 1 each) aggregating up to Rs. 16,000 million comprises a Fresh Issue aggregating up to Rs. 16,000 million (“Total Offer Size”). The Company proposes to utilize the Net Proceeds towards funding the following objects – the repayment/prepayment, in part or full, of certain borrowings availed by the Company including payment of interest accrued thereon.
JM Financial Limited, Axis Capital Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited, IIFL Securities Limited, Kotak Mahindra Capital Company Limited, and SBI Capital Markets Limited are the Book-Running Lead Managers for the issue.