Juniper Hotels IPO opens today: GMP, issue details, 10 key things to know before subscribing to ₹1,800-crore issue

Juniper Hotels IPO opens for subscription tomorrow (Wednesday, February 21). Juniper Hotels Ltd is a luxury hotel development and ownership company operating in luxury, upper upscale and upscale category of hotels across various locations in India, namely Mumbai, Delhi, Ahmedabad, Lucknow, Raipur and Hampi.

Also Read: Juniper Hotels IPO: Price band set at ₹342-360 per share; check GMP, key dates, issue details, more

According to the Red Herring Prospectus (RHP), as of September 30, 2023, Juniper Hotels operated 1,836 keys across seven hotels and serviced apartments. The company benefits from a special and long-standing partnership that spans more than 40 years between affiliates of the highly regarded premier hospitality brand Hyatt Hotels Corporation and Saraf Hotels (including former and current affiliates, collectively referred to as the "Saraf Group"), a hotel developer with a solid track record in India.

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Hyatt has a strategic stake solely in Juniper Hotels, the only hotel development firm in India. According to the Horwath Report, as of September 30, 2023, Juniper Hotels owned 19.6% of the rooms and apartments associated with the Hyatt company in India.

Also Read: Juniper Hotels IPO opens next week. GMP, price, other details of upcoming IPO

As per the RHP, the company's listed peers are Chalet Hotels Limited (with a P/E of 84.37), Lemon Tree Hotels Limited (with a P/E of 95.52), The Indian Hotels Company Limited (with a P/E of 66.78), and EIH Limited (with a P/E of 58.71).

Saraf Hotels Limited, Two Seas Holdings Limited, Juniper Investments Limited, and Arun Kumar Saraf are the company's promoters. The corporate promoters own 100% of the equity shares as of the RHP date of February 13, 2024, which is 172,502,384 in total.

Between March 31, 2022, and March 31, 2023, Juniper Hotels Limited's profit after tax (PAT) climbed by 99.2% and its revenue increased by 1086.6%, respectively.

Also Read: IPOs next week: Two mainboard, 3 SME public issues to keep primary market busy

Here are the 10 key things to know about Juniper Hotels IPO:

Juniper Hotels IPO date: Juniper IPO opens for subscription on Wednesday, February 21, and closes on Friday, February 23.

Juniper Hotels IPO price band: Juniper IPO price band has been fixed in the range of ₹342 to ₹360 per equity share of face value of ₹10.

Juniper Hotels IPO lot size: Juniper IPO lot size is 40 equity shares and in multiples of 40 equity shares thereafter.

Anchor investors: The allocation to anchor investors for Juniper Hotels IPO is scheduled to take place today (Tuesday, February 20).

Juniper Hotels IPO details: Juniper Hotels IPO, which is worth ₹1,800 crore, completely comprises a fresh issue, and there is no offer-for-sale component.

Also Read: Juniper Hotels IPO to open for subscription on Feb 21; here's all we know so far

Juniper Hotels IPO objectives: The company plans to utilise the net proceeds of the issue for the following purposes: General corporate purposes; full or partial repayment, prepayment, or redemption of certain outstanding borrowings incurred by the company and our recent acquisitions, Chartered Hotels Private Limited and Chartered Hampi Hotels Private Limited.

Juniper Hotels IPO listing date and allotment details: Tentatively, Juniper Hotels IPO basis of allotment of shares will be finalised on Monday, February 26 and the company will initiate refunds on Tuesday, February 27, while the shares will be credited to the demat account of allottees on the same day. Juniper Hotels IPO shares are likely to be listed on BSE and NSE on Wednesday, February 28.

Also Read: Juniper Hotels gets SEBI approval to raise ₹1,800 crore via IPO

Lead Manager and Registrar of Juniper Hotels IPO: The registrar for the Juniper Hotels IPO is Kfin Technologies Limited, while the book running lead managers are JM Financial Limited, CLSA India Private Limited, and ICICI Securities Limited.

Juniper Hotels IPO reservation: Juniper Hotels IPO has reserved not less than 75% of the shares in the public issue for Qualified Institutional Buyers (QIB), not more than 15% for Non Institutional Investors (NII), and not more than 10% of the offer is reserved for Retail Investors.

Juniper Hotels IPO GMP today: Juniper IPO GMP or grey market premium is +8. This indicates Juniper Hotels share price were trading at a premium of ₹8 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Juniper Hotels share price was indicated at ₹368 apiece, which is 22.2% higher than the IPO price of ₹360.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Juniper Hotels files DRHP with Sebi for ₹1800 crore IPO

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