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Business News/ Markets / Ipo/  Juniper Hotels IPO: Price band set at 342-360 per share; check GMP, key dates, issue details, more
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Juniper Hotels IPO: Price band set at ₹342-360 per share; check GMP, key dates, issue details, more

Juniper Hotels IPO price band fixed at ₹342 to ₹360 per equity share. Juniper Hotels IPO subscription to take place from February 21 to February 23.

Juniper Hotels IPO price band has been set at ₹342 to ₹360 per equity share. (https://juniperhotels.com/)Premium
Juniper Hotels IPO price band has been set at 342 to 360 per equity share. (https://juniperhotels.com/)

Juniper Hotels IPO price band: The Juniper Hotels IPO price band has been fixed in the range of 342 to 360 per equity share of the face value of 10. The Juniper Hotels IPO date of subscription is scheduled for Wednesday, February 21, and will close on Friday, February 23. The allocation to anchor investors for the Juniper Hotels IPO is scheduled to take place on Tuesday, February 20.

The floor price is 34.2 times the face value of the equity shares and the cap price is 36.0 times the face value of the equity shares. The Juniper Hotels IPO lot size is 40 equity shares and in multiples of 40 equity shares thereafter.

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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 to open for subscription on Feb 21; here's all we know so far

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 Institutional Investors (NII), and not more than 10% of the offer is reserved for retail investors.

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 following refund. Juniper Hotels share price is likely to be listed on BSE and NSE on Wednesday, February 28.

Juniper Investments Limited, Two Seas Holdings Limited, Arun Kumar Saraf, and Saraf Hotels Limited are the company's promoters.

Also Read: Entero Healthcare Solutions IPO allotment finalised; Latest GMP, steps to check Entero IPO allotment status

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.

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.

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).

Also Read: Polysil Irrigation Systems IPO allotment finalised: Latest GMP, how to check allotment status

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.

 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.

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 GMP today

Juniper Hotels IPO GMP or grey market premium was 0, which meant shares were trading at their issue price of 360 with no premium or discount in the grey market.

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

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 decision.

 

 

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Published: 15 Feb 2024, 08:34 AM IST
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