Mumbai: Pune-based Ventiv Hospitality and Carraro India have announced their initial public offerings (IPOs), both opening on December 20 and closing on December 24, 2024, aiming to raise a total of over ₹2,800 crore.
US-based private equity firm Blackstone-backed Ventu Hospitality, which owns hotel and office space assets in India and the Maldives, plans to raise ₹1,600 crore through a fresh issue of equity shares. The price band for the IPO is set at ₹ 610 to ₹ 643 per share with a face value of ₹ 1. The company intends to use the proceeds to repay ₹1,400 crore of debt and accrue interest to itself and its subsidiaries.
Carraro India, promoted by Italy-based Carraro International and specializing in manufacturing axles and transmission gears for tractors and construction equipment, aims to raise ₹ 1,250 crore. The IPO is an offer for sale by Carraro International, priced at ₹ 668 and face value of ₹ 1 per share at ₹ 704. Established in 1997, Carraro India operates two manufacturing facilities and a research and development center near Pune.
Both the IPOs are expected to attract huge investor interest during the busy period of the capital market.