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<keyword id="23031470" type="General" weightage="20" keywordseo="ventive-hospitality" source="keywords">Ventive Hospitality</keyword>, a joint venture between Blackstone Group and <keyword id="21088756" type="General" weightage="20" keywordseo="panchshil" source="keywords">Panchshil</keyword> Realty, on Tuesday filed preliminary papers with capital markets regulator Sebi to raise Rs 2,000 crore through an initial public offering (IPO). The Pune-based company's IPO is completely a fresh issue of equity shares with no offer-for-sale (OFS) component, according to the draft red herring prospectus (DRHP). Also, the company may consider a pre-IPO placement aggregating up to Rs 400 crore. If such placement is undertaken, the issue size will be reduced. Proceeds of the IPO to the tune of Rs 1,600 crore will be used for debt payment. As per the draft papers, <keyword id="23114126" type="General" weightage="20" keywordseo="ventive" source="keywords">Ventive</keyword> Hospitality has a borrowing of Rs 412.60 crore as of March 2024. Ventive Hospitality is a hospitality asset owner primarily focused on luxury offerings across business and leisure segments in India and the <keyword id="19926427" type="General" weightage="20" keywordseo="maldives" source="keywords">Maldives</keyword>. At present, Panchshil holds a 60 per cent stake in Ventive, while Blackstone owns the remaining 40 per cent stake. As of March 2024, the company's portfolio comprised 11 operational hospitality assets comprising 2,036 keys, of which six are operated by or franchised from Marriott, two are operated by or franchised from Hilton and the remaining three are operated by other hotel operators. Some of its hospitality assets are Anantara Maldives, Conrad Maldives, JW Marriott, Pune and The Ritz-Carlton, Pune. JM Financial, Axis Capital, ICICI Securities, IIFL Securities, <keyword id="20424038" type="General" weightage="20" keywordseo="kotak-mahindra-capital-company" source="keywords">Kotak Mahindra Capital Company</keyword>, <keyword id="19951017" type="General" weightage="20" keywordseo="sbi-capital-markets" source="keywords">SBI Capital Markets</keyword> and HSBC Securities and Capital Markets(India) Private Ltd are the book running lead managers for the issue. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/ather-energy-looks-to-raise-3100-crore-files-ipo-papers-with-sebi/articleshow/113214971.cms">Ather Energy looks to raise ₹3,100 crore, files IPO papers with SEBI</a> <a href="https://www.businessinsider.in/tech/mobile/news/iphone-16-pro-iphone-16-pro-max-india-price-specifications/articleshow/113204340.cms">iPhone 16 Pro and iPhone 16 Pro Max with bigger displays, A18 Pro chipset launched starting at ₹1,19,900</a> <a href="https://www.businessinsider.in/tech/mobile/news/apple-iphone-16-iphone-16-plus-price-specs/articleshow/113203568.cms">iPhone 16, iPhone 16 Plus with A18 chipset launched starting at ₹79,900</a>

Ventive Hospitality files papers with Sebi to raise Rs 2,000-cr via IPO

New Delhi, Apr 10 () Panchshil Realty on Friday said it will provide 10,000 personal protection equipment (PPE) kits to medical personnel handling coronavirus cases in hospitals across Pune. Panchshil Foundation is also providing food hampers containing basic essential rations like rice, dal, cooking oil and eggs to daily wage earners who have been affected because of lockdown to control this disease. The foundation will provide 10,000 PPE kits over the next few weeks to medical personnel handling COVID-19 cases in hospitals in Pune, the company said in a statement. "...Medical personnel treating Covid-19 patients need more PPE kits and, the foundation will start providing them with these kits soon," said Atul Chordia, Chairman, Panchshil Realty. To provide relief to workers, the foundation has provided over 12,000 food hampers in the last 12 days across various areas in Pune in coordination with local administration. The target is to continue to distribute 8,000 hampers per week for the next six weeks. These food hampers are being coordinated through its four hotels. The foundation has partnered with 5th battalion of the National Disaster Response Force (NDRF) to raise awareness about Covid-19. A team of seven experts from NDRF has already carried out a community education drive at two labour camps in Wagholi. Panchshil Realty's main business verticals are commercial office space, hospitality and residential real estate. A significant chunk of Panchshil Realty's office portfolio is anchored by global investment fund Blackstone Group. MJH ANSANS

Panchshil Realty to provide 10,000 PPE kits to medical personnel handling Covid-19 cases in Pune

US President-elect <keyword id="6354484" type="PERSON" weightage="20" keywordseo="Donald-Trump">Donald Trump</keyword> has abandoned his association with realty projects in several countries, including one in India and it attracted intense scrutiny soon after his election. 
 
Trump’s orgianisation will not be continuing "exploratory" talks over projects in Pune and in Buenos Aires, Argentina, the President-elect's attorney Alan Garten was quoted telling US media outlets. 
 Earlier, the <keyword id="293550" type="ORGANIZATION" weightage="20" keywordseo="Trump-Organization">Trump Organization</keyword> had called off licensing deals for hotels in Brazil, Azerbaijan and Georgia. 
 
Realestate developer Pan- chshil Realty said the plan for a second project with Trump Organization in Pune had been dropped long back. 
 "We dropped the project long back. The environment in Pune is not conducive for sale of luxury projects. Nobody buys a Rs 20 crore flat here," <keyword id="247802" type="PERSON" weightage="20" keywordseo="Atul-Chordia">Atul Chordia</keyword>, chairman, Panchshil Realty, told ET. 
 
He said the group has begun focusing more on commercial real estate. 
 In August 2014, impressed by the sample flat on the first floor of the 23-floor <keyword id="420191" type="PERSON" weightage="20" keywordseo="Trump-Towers">Trump Towers</keyword> built by Panchshil Ralty in Kalyaninagar in Pune, Donald Trump had said his organisation could be open to future investments in the city. 
 
"I don't know what happens now with so many questions raised. Yes, he was interested at that point. Now we don't know what will happen," Sagar Chordia, Atul's brother and director of the group, told ET.

Donald's firm dumps Pune realty project, scraps other projects globally too

Mumbai, Mar 4 () The USD 572-billion private equity giant Blackstone, which has pumped in USD 15.5 billion into scores of companies in the country since its entry 15 years ago, is bullish on the Indian market which has given it the strongest results globally. Of the USD 15.5 billion of total investments it has made into 40 companies (and only six record-breaking profitable exits), as much as USD 6 billion flowed into the country in 2019 alone, a record high for the firm. Addressing a select group of media over lunch here, Stephen A Schwarzman, the chairman, chief executive and co-founder of Blackstone, said, "India has given us the strongest results across the world. And am optimistic this (will) continue going forward." But Schwarzman, known for his 'don't lose money' way of risk taking, did not quantify the returns he has made from the India investments. Since his last formal visit to India in 2006, Schwarzman, who is spending hundreds of millions of dollars on philanthropy, education and the arts, also said the India he visited then is not the India of today. The country has "changed enormously. India is a highly unusual market... despite the problems it is facing today, which is exacerbated by the crisis in the banking system, this market can come around for the better." "India's education sector is doing well, producing seven times more engineers than the US does annually. So it means it has all the preconditions for expansive growth as the economy has reached an inflection point," said Schwarzman, who founded Blackstone 30 years ago with USD 400,000, which has since grown to a USD 572 billion Wall Street gorilla. "Despite some hiccups, growth is happening at a good pace. Last year was a record for us with USD 6 billion investments. I see the same level of investment growth happening this year as well," said Amit Dixit, one of the senior managing directors at Blackstone Advisors India. The PE giant's largest exit was Intelenet Global Services, which was sold to French outsourcing giant Teleperformance for USD 1 billion in August 2018. Blackstone acquired it in 2013 for around USD 385 million and the return was its largest exit in Asia then. Blackstone invested in Intelenet twice in the last decade. It first picked up a stake in 2007 before selling to Selco in 2011. In late 2015, it bought the company back for USD 385 million.Blackstone pumped in USD 6 billion into India 2019 when it picked up companies like Aadhar Housing Finance from the troubled DHFL group for Rs 3,000 crore, stake in Essel Propack from the debt-laden Zee Group for Rs 3,211 crore, Akash Education, Indiabulls realty arm (Rs 1,600 crore), the tony One BKC property (Rs 2,500 crore) and Future Lifestyle. Blackstone is the largest realty investor in the country through its joint venture with the Embassy group, having launched the country's first REITs. Embassy Office Parks, the JV of Blackstone and Embassy, launched the first real estate investment trust (REIT) in March 2019, raising Rs 4,000 crore. Embassy Office Parks has a portfolio over 33 million sq ft comprising seven business parks and four city-centric buildings spread across Mumbai, Bengaluru, Pune and Noida. Besides the Embassy Group, Blackstone has also partnered with developers like Salarpuria Sattva Group, Indiabulls Real Estate, Panchshil Realty and K Raheja Corp, among others, totalling over USD 10 billion investments in realty sector alone. BEN ABMABM

India has given us the strongest results globally: Blackstone chairman

MUMBAI: American <keyword id="6354553" type="COMPANY" weightage="20" keywordseo="real-estate">real estate</keyword> tycoon <keyword id="6354484" type="PERSON" weightage="20" keywordseo="Donald-Trump">Donald Trump</keyword> plans to <keyword id="47916" type="UNKNOWN" weightage="20" keywordseo="invest">invest</keyword> in the upcoming uber-luxury residential project in Mumbai to which he has lent his name. While the quantum of equity stake is still being negotiated, the move will mark the 68-year-old billionaire’s first investment in India. 
 After two non-starter projects in Mumbai and Bangalore, Trump’s bet on India’s realty sector has finally materialized with the business magnate tying up with <keyword id="45817" type="COMPANY" weightage="20" keywordseo="Lodha">Lodha</keyword> Developers for a complex in Worli. “India is a great place to invest, especially after the elections, and this project (Trump Tower) speaks well about the prospects for the country,” said Trump, adding that several Indians reside in his towers globally. Indian rules allow a foreigner to invest $5 million in a joint venture with a three-year lock-in period. 
 Trump earns billions of dollars by licensing his name to various residential and hospitality projects across the world. Besides Lodha’s Trump Tower in Worli, the chairman and president of <keyword id="1002277" type="UNKNOWN" weightage="20" keywordseo="The-Trump-Organization">The Trump Organization</keyword> has licensed his name to a 22-storey residential complex in Pune, which is being developed by Panchshil Realty. 
 
Trump said that he has been looking at India for many years but it is only now that he found the right partner and the right opportunity. According to him, the partnership with Lodha is like “seeing a beautiful person and falling in love”. “Getting into partnership is like getting into marriage — chemistry is very important,” said Trump. 
 The 75-plus-storey Trump Tower, which entails an investment of Rs 2,300 crore, comprises 3-, 4- and 6-BHK apartments, priced between Rs 9 crore and Rs 18 crore. Already 100 units out of the 300 have been sold, claimed <keyword id="167433" type="PERSON" weightage="20" keywordseo="Abhishek-Lodha">Abhishek Lodha</keyword>, MD of the Rs 8,700-crore Lodha Developers. Non-resident Indians from Hong Kong and the Middle East form a good chunk of the buyers. Lodha expects to earn revenues of up to Rs 5,000 crore from the Worli project.

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