|
Private Sector | Multi State - India | PID: 203793
|
Ventive Hospitality, part of the Pune-based relator Panchshil Realty, has received Securities and Exchange Board's (Sebi) nod for its proposed initial public offering (IPO). The offer is a fresh issue worth Rs 2,000 crore.
The company has a presence across the commercial, retail, luxury residential and data centre segments and plans to have around 2,400 keys by FY28 through planned development and expansion initiatives in Varanasi, Bengaluru as well as Pottuvil and Arugam Bay Beach in Sri Lanka.
Ventive’s hospitality assets are operated by or franchised from global operators, including Marriott, Hilton, Minor and Atmosphere. The luxury hospitality assets comprise JW Marriott Pune, The Ritz-Carlton Pune, Conrad Maldives, Anantara Maldives and Raaya by Atmosphere Maldives.
In 2017, following acquisition of a 50 percent stake in the company, BRE Asia (formerly known as Xander Investment Holding), which is an affiliate of Blackstone, became a 50 percent shareholder in the real estate company. As of March 2024, Ventive manages 11 hospitality assets totaling 2,036 keys across India and the Maldives, a significant leap from its modest 83-key portfolio in 2007. Seven of these assets were developed by the company, while four were acquired, showcasing its dual strategy of organic growth and acquisition. Notably, since 2019, Ventive has added 1,070 keys, which now account for over 50 percent of its total portfolio.
Through the development and acquisition-led expansion, it has forayed into new geographies such as Bengaluru, Varanasi and the Maldives within the past few years.
| Updated on: 21 - Dec - 2024
|
|
|
|