Ahmedabad: Ventive Hospitality Limited (Formerly known as ICC Realty (India) Private Limited) (“COMPANY”), shall open its Bid/Offer in relation to its initial public offer of Equity Shares on Friday, December 20, 2024. The Anchor Investor Bidding Date is one working day prior to bid/offer opening date, being Thursday, December 19, 2024. The Bid/ Offer Closing Date is Tuesday, December 24, 2024, said the company.

The company in a official statement said, “The total offer size of equity shares (face value of Rs. 1 each) aggregating up to Rs. 16,000 million comprises a Fresh Issue of aggregating up to Rs. 16,000 million  (“Total Offer Size”).Price Band of the issue is fixed at Rs. 610 to Rs. 643 per equity share. (“The Price Band”).”

“A discount of Rs. 30 per Equity Share is being offered to Eligible Employees bidding in the Employee Reservation Portion (“Employee Reservation Portion Discount”). Bids can be made for a minimum of 23 Equity Shares and in multiples of 23 Equity Shares thereafter. (“Bid Lot”).The Company proposes to utilize the Net Proceeds towards funding the following objects – the repayment/prepayment, in part or full, of certain of borrowings availed by the Company including payment of interest accrued thereon,” the company stated.

Atul I. Chordia, Chairman, Panchshil Realty and Executive Director, Ventive Hospitality Limited said: “The proposed IPO of Ventive Hospitality Limited is a key milestone for Panchshil and Blackstone in its journey to transform regional hospitality.”

Tuhin Parikh, Head of Real Estate – India, Blackstone said: “We are pleased to work with our long-time partner, Panchshil Realty in the upcoming IPO of Ventive Hospitality Limited – having a portfolio of premium hospitality assets that are operated by global hospitality brands.”

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 to the issue, the company states.