Ventive Hospitality Limited, a luxury hospitality company, has received approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO).
BRE Asia acquires Ventive Hospitality in 2017
The company plans to issue equity shares worth up to INR 2,000 crore. Ventive Hospitality was founded as the hospitality division of Panchshil Realty, a real estate conglomerate based in Pune. In 2017, BRE Asia, an affiliate of Blackstone, acquired a 50% stake in the company.
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Notably, Ventive Hospitality owns and operates luxury hospitality assets across India and the Maldives, with properties managed by global operators such as Marriott, Hilton, Minor, and Atmosphere.
Its portfolio includes 11 operational assets with 2,036 keys, a significant increase from just 83 keys in 2007. Key assets include JW Marriott Pune, The Ritz-Carlton Pune, Conrad Maldives, Anantara Maldives, and Raaya by Atmosphere Maldives.
The company has expanded its footprint by developing and acquiring properties in new regions, including Bengaluru, Varanasi, and the Maldives. Ventive Hospitality’s luxury hospitality assets have contributed over 80% of its pro forma revenue from hotel operations in FY24, FY23, and FY22.
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Ventive Hospitality expands portfolio with 367 keys
Meanwhile, the company plans to expand its portfolio by 367 keys, or 18.02%, by FY2028 through new development projects in Varanasi, Uttar Pradesh, Bengaluru, Karnataka, and Sri Lanka. The IPO will be managed by several leading investment banks, including JM Financial Limited, Axis Capital Limited, and ICICI Securities Limited.
