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With domestic stock markets trading around their highest levels, Blackstone Inc – the largest private equity (PE) investor in India with bets worth $50 billion (over Rs 4 trillion) -- has started the process to list two of its portfolio companies: Ventive Hospitality, a joint venture with Panchshil Group, and International Gemological Institute (IGI), a diamond grading company.
Ventive Hospitality submitted its draft prospectus to the Securities and Exchange Board of India (Sebi) on Tuesday, weeks after IGI filed its papers to go public. In May this year, the American private equity major-backed Aadhar Housing Finance had