Ventive Hospitality Shares: Ventive Hospitality shares which made its debut on the Indian bourses today (December 30), opened to a mixed reception in early trading hours. After a positive start, the company’s stock as of 10:35 AM IST, were trading at Rs 710.25 on the BSE, marking a decline of 1.10 per cent from its listing price of Rs 718.15. On the NSE, the stock was trading at Rs 713.50, down by 0.35 per cent from its debut price of Rs 716.
However, at 10:53 AM IST, the shares bounced back into the green, trading at Rs 724.85, up by 0.93 per cent on the BSE, and at Rs 725, up by 1.26 per cent on the NSE.
Ventive Hospitality listed at a significant premium over its issue price. The shares opened at Rs 718.15 on the BSE, nearly 12 per cent premium over the issue price of Rs 643. Subsequently, on the NSE, the listing price was Rs 716, marking a premium of 11.35 per cent.
IPO Details and Subscription Demand
The Rs 1,600 crore IPO of Ventive Hospitality was open for bidding from December 20 to December 24. The company priced its shares between Rs 610 to Rs 643 apiece, with 23 equity shares in each lot.
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The grey market premium (GMP) of the company’s share prior to the official listing was Rs 80, indicating an estimated listing of 12.44 per cent premium over the issue price.
During the final round of bidding, the issue received a subscription rate of 10.33 times overall. In the Non-Institutional Investors (NII) category, it was subscribed 14.6 times, and in the Qualified Institutional Buyers (QIB) category, it was subscribed 9.58 times. Retail investors subscribed to the issue 6.19 times.
Use of Proceeds
The funds raised through the IPO will be used primarily for debt repayment, including the payment of accrued interest, allowing Ventive Hospitality to strengthen its balance sheet.
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