The IPO of Ventive Hospitality, backed by Blackstone, saw a lukewarm response on its first day of trading, with a subscription of 0.71 times. The IPO, which was priced between ₹610-643, received bids for 1.02 crore shares against 1.44 crore shares on offer. The bidding will continue until December 24.
The allocation of the IPO will be as follows: 75% for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail investors. There is also a discount of ₹30 per share for eligible employees bidding in the employee reservation portion.
The anchor investors have already shown strong interest, with 26 investors receiving 1,11,90,513 shares ahead of the IPO. The company plans to use the proceeds from the IPO to repay or prepay certain borrowings, including accrued interest.
Overall, the response to Ventive Hospitality’s IPO has been moderate, with different investor categories showing varying levels of interest. The company’s future performance will be closely watched by investors as it enters the public market.
This blog post provides an overview of the IPO process and the response it has received so far, offering valuable insights for investors and those interested in the hospitality sector.