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Business News/ Markets / Ipo/  Juniper Hotels IPO: GMP, subscription status to review. Should you apply?

Juniper Hotels IPO: GMP, subscription status to review. Should you apply?

Juniper Hotels IPO GMP: Market observers see improvement in the grey market sentiment after ther trend reversal on Dalal Street

Juniper Hotels IPO subscription status: After two days of bidding, the public issue has been booked 0.23 times. (Photo: Courtesy company website)Premium
Juniper Hotels IPO subscription status: After two days of bidding, the public issue has been booked 0.23 times. (Photo: Courtesy company website)

Juniper Hotels IPO: The initial public offering of Juniper Hotels Ltd opened for subscription on 21st February 2024 and the public issue will end on 23rd February 2024. This means, that primary market investors have just one day in hand to apply for this book build issue, which is proposed for listing on BSE and NSE. The luxury hotel company has a fixed price band of its initial offer at 342 to 360 per equity share.

Meanwhile, on the last date of Juniper Hotels IPO, shares of the luxury hotel company are trading at par, which means the stock is neither trading at any premium nor any discount. As per the Juniper Hotels IPO subscription status after two days of bidding, the book build issue is yet to get fully subscribed as it has been booked only 23 percent.

Juniper Hotels IPO GMP

According to stock market observers, Juniper Hotels shares are trading at par in the grey market today. This means the stock is neither giving any premium nor any discount in the grey market. However, they maintained that there could be some positive movement visible in the grey market regarding Juniper Hotels IPO as the secondary market witnessed a trend reversal on Thursday.

Juniper Hotels IPO subscription status

In the first two days of bidding, Juniper Hotels IPO subscribed 0.23 times whereas its retail portion subscribed 0.87 times. The NII portion of the public offer was booked 0.14 times whereas its QIB portion has been booked 0.06 times.

By 12:18 PM on day 3 of bidding, the public issue was booked 0.41 times whereas its retail portion was booked 1.04 times. The NII segment of the public issue was subscribed 0.27 times while the QIB portion of the book build issue was booked 0.27 times.

Infographic: Courrtesy mintgenie
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Infographic: Courrtesy mintgenie

Juniper Hotels IPO review

Giving a 'subscribe' tag to the public issue, Ventura Securities said, "The company’s unique partnership backed by strong and well-recognized parentage and robust asset management capabilities with a focus on enhancing operating efficiency and profitability is expected to drive growth. At the IPO price of INR 360 (upper price band), Juniper Hotels is valued at EV/EBITDA multiple of 22.6."

Advising investors to apply for the long term, SMIF report said, "IF report said, "The company reported total revenue of INR 3374.30 million in H1FY24 along with EBITDA of INR 1245.95 million. The company’s inventory grew 30.58% YoY in H1FY24. In FY23 the company’s net sales grew 116.03% YoY along with EBITDA growth of 217.70% YoY. As the recent capacity additions (~30%) start to contribute we expect the earnings to register decent growth, add to that at par valuations and the premium category tag - offering scope for increasing occupancy and ARR improvements could lead to very strong growth in the bottom line, recommend to subscribe as a good long term investment."

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Asit Manohar
Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 23 Feb 2024, 08:55 AM IST
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