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Business News/ Markets / Ipo/  Juniper Hotels IPO to open for subscription on Feb 21; here's all we know so far
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Juniper Hotels IPO to open for subscription on Feb 21; here's all we know so far

Juniper Hotels intends to allocate the proceeds towards clearing a debt amounting to ₹1,500 crore.

Juniper Hotels operates 1,836 keys across the luxury, upper upscale and upscale categories of hotels across various locations in India. Photo: iStock (iStock)Premium
Juniper Hotels operates 1,836 keys across the luxury, upper upscale and upscale categories of hotels across various locations in India. Photo: iStock (iStock)

Juniper Hotels, a luxury hotel developer operating Hyatt properties in India, is all set to launch its initial public offering (IPO). The public issue will open for subscription on February 21 and closes on February 23.

The price band of the hotel developer's IPO will be declared soon. It is a book-built issue of 1,800 crore and is entirely a fresh issue.

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Juniper Hotels stands as a leading luxury hotel development and ownership entity, boasting the largest ownership share, by the number of keys, of Hyatt-affiliated hotels in India as of September 30, 2023.

"We operated 1,836 keys across the luxury, upper upscale and upscale category of hotels across various locations in India, namely Mumbai, Delhi, Ahmedabad, Lucknow, Raipur and Hampi. We benefit from a unique partnership between Saraf Hotels (and its affiliates) and affiliates of, Hyatt Hotels Corporation," the company said in its RHP.

Not less than 75 per cent of the issue is reserved for Qualified Institutional Buyers (QIBs), not more than 10 per cent of the issue is reserved for retail investors and not more than 15 per cent of the issue is reserved for Non-institutional investors (NIIs).

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Juniper Hotels intends to allocate the proceeds towards clearing a debt amounting to 1,500 crore. The residual funds will be earmarked for various general corporate purposes.

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

Jm Financial Limited, Clsa India Private Limited and ICICI Securities Limited are the book-running lead managers of the Juniper Hotels IPO, while Kfin Technologies Limited is the registrar for the issue.

Juniper Hotels Limited's revenue increased by 108.66 per cent and profit after tax (PAT) rose by 99.2 per cent in the financial year ending March 31, 2023.

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Published: 14 Feb 2024, 07:11 PM IST
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