Vantive Hospitality IPO 78% Subscribed on Day 2 So Far: Check Key Dates, Price Band, GMP & Review

Vantive Hospitality’s initial public offer (IPO), which opened for subscription on Friday, has been 78% subscribed so far on the second day of the process, attracting the highest demand from qualified institutional buyers (QIBs).

Around 10:45 am, the issue was subscribed 1.05 times by QIB, followed by 86% subscription by retail investors. Meanwhile, Non-Institutional Investors (NII) subscribed 19% in the issue.

Rs. 1,600 crore issue, which is a fresh equity sale of fully 2.48 shares, will be available for bidding till December 24.

The proceeds from the offering will be used for repayment of debt, payment of accrued interest in stepped-down subsidiaries and for general corporate purposes.

Vantive Hospitality IPO: Price Band

The company paid Rs. A price band of 610-643 has been set, where investors can bid for 23 shares in a lot, and in multiples thereafter.

Vantive Hospitality IPO: GMP today

Prior to the launch of the issue, Vantive Hospitality raised Rs. was commanding a GMP of 29-32, implying a premium of 5% over the issue price.

Vantive Hospitality IPO: A Review

Analysts advised investors to subscribe to the issue as it offers investors an opportunity to invest in the luxury hotel business across business and leisure segments.

Also Read: Unimech Aerospace IPO Opens Check key dates, price bands, GMP and reviews

On valuation, issue Rs. Seeking a market cap of 15,016 crores. Based on FY24 earnings, the company is seeking 90 times PE which is full price.

Anand Rathi said, “We believe the company is well positioned to benefit from relatively low new supply in its core markets and growing hospitality demand coupled with a growing tourism industry. We assign a long-term rating to the issue.”

Vantive Hospitality IPO: Opening Date, Allotment and Listing Date

The Vantive Hospitality IPO opened for public subscription on December 20 and the issue closes on December 24. Meanwhile, the allotment for the IPO is expected to be decided on December 26 and the listing of shares will take place on December 30.

About Vantive Hospitality IPO

Vantive Hospitality is a hospitality asset owner with a primary focus on luxury offerings across business and leisure segments. All hospitality assets are managed or franchised by global operators including Marriott, Hilton, Minor and Atmosphere.

Luxury hospitality assets include JW Marriott, Pune, The Ritz-Carlton, Pune, Conrad, Maldives, Anantara, Maldives and Raya by Atmosphere, Maldives. The portfolio comprises 11 operational hospitality assets in India and the Maldives, totaling 2,036 keys in the luxury, upper upscale and upscale segments as of March 2024.

Also Read: Vedanta shares to trade ex-dividend tomorrow Rs. 8.5 Last Day for Dividend Eligibility

The company has a proven track record of developing and acquiring marquee hotel assets in various geographies and various hospitality segments. Through growth and acquisition-led expansion, they have increased the portfolio and entered new geographies like Bengaluru, Varanasi and Maldives in the last few years.

In FY24, the company’s revenue from operations grew 11% year-on-year to Rs. 478 crore, while profit after tax increased by 27% to Rs. 166 crores.

(disclaimer: Recommendations, suggestions, opinions and views given by experts are their own. (These do not represent the views of The Economic Times)