India's Ventive Hospitality jumps 13% in trading debut

Ventive Hospitality

30/12/2024 06:03

** Shares of Ventive Hospitality  VENE.NS  climb 12.8% to
725.50 rupees, valuing the Blackstone-backed hotel operator at
169.43 bln rupees ($1.98 bln)     
    ** Stock opened at 716 rupees on National Stock Exchange vs
issue price of 643 rupees 
    ** Co, which operates luxury hotels including Marriott and
Hilton, sold only new shares in its 16-bln-rupee IPO 
    ** IPO proceeds to be used for repaying debt which stood at
36.10 bln rupees as of Sept. 2024, prospectus shows
    ** The IPO was subscribed nearly 10x and got bids worth
91.13 billion rupees at the end of the 3 days of bidding which
started on Dec. 20



($1 = 85.4850 Indian rupees)

 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))