The initial public offering (IPO) of Ventive Hospitality, which opened for subscription on Friday, has been subscribed by 1.28 times on the second day of the issue, attracting the highest demand from retail individual investors (RIIs).The issue was subscribed 1.22 times by the QIBs, followed by 1.07 times subscription by the non-institutional investors. Meanwhile, the retail investors had subscribed to the issue by 1.76 times.The Rs 1600 crore issue, which is entirely a fresh equity sale of 2.48 shares, will be available for bidding till December 24.The proceeds from the offer will be used for repayment of debt, payment of interest accrued in step-down subsidiaries and general corporate purposes.Ventive Hospitality IPO: price bandThe company has fixed a price band of Rs 610-643 per share, where investors can bid for 23 shares in one lot and in multiples thereafter.Ventive Hospitality IPO: GMP todayVentive Hospitality was commanding a GMP of Rs 27 per share at the closing time on Day 2 versus Rs 29-32, at the start of the day which indicates a premium of 4% over the issue price.Ventive Hospitality IPO: ReviewAnalysts advised investors to subscribe to the issue as it brings investors an opportunity to invest in luxury hotel business across business and leisure segments.Also Read: Unimech Aerospace IPO opens. Check key dates, price band, GMP and reviewOn valuation, the issue is asking for a market cap of Rs 15,016 crore. Based on FY24 earnings, the company is asking a PE of 90x times which is fully priced."We believe that the company is well-positioned to benefit from growing hospitality demand in conjunction with relatively low new supply in their key markets and growing tourism industry. We assign subscribe for long term rating for the issue," said Anand Rathi.Ventive Hospitality IPO: Opening Date, Allotment and Listing DateVentive Hospitality IPO opened for public subscription on December 20 with the issue closing on December 24. Meanwhile, the allotment for the IPO is expected to be finalised on December 26 and the listing of shares will be on December 30.About Ventive Hospitality IPOVentive Hospitality is a hospitality asset owner with a primary focus on luxury offerings across business and leisure segments. All of the 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. The portfolio comprises 11 operational hospitality assets in India and Maldives, totalling 2,036 keys across the luxury, upper upscale and upscale segments as at March 2024.Also Read: Vedanta shares to trade ex-dividend tomorrow. Last day for Rs 8.5 dividend eligibilityThe company has a proven track record of developing and acquiring marquee hotel assets across various geographies and different hospitality segments. Through the development and acquisition-led expansion, they have scaled up the portfolio and forayed into new geographies such as Bengaluru, Varanasi and the Maldives within the past few years.In FY24, the company's revenue from operations increased 11% year-on-year to Rs 478 crore, while profit after tax rose 27% to Rs 166 crore.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)