Juniper Hotels Limited IPO Opens On February 21. Check IPO Details Issue Date Price

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Juniper Hotels Limited IPO Opens On February 21. Check IPO Details Issue Date Price

February 21, 2024
Juniper Hotels Limited IPO Opens On February 21. Check IPO Details Issue Date Price

Juniper Hotels Limited is coming out with a public issue to raise Rs 1800 crores from the market.

Below are the details of the Juniper Hotels Limited IPO:

  • Issue opens – February 21 (Wednesday)
  • Issue closes – February 23 (Friday)
  • Issue size – Rs 1800 crores
  • Price band – Rs 342 to 360 per equity share
  • Bid lot – 40 shares and in multiples thereof

And here are some details of the company and further details on the IPO.

Company Details:

  • Juniper Hotels Limited are a luxury hotel development and ownership company, and are the largest owner, by number of Keys of “Hyatt” affiliated hotels in India as of September 30, 2023. (source: Horwath Report) They have a portfolio of seven hotels and serviced apartments and operate a total of 1,836 keys as of September 30, 2023. They benefit from a unique and longstanding partnership of over 40 years between Saraf Hotels (including erstwhile and current affiliates, collectively referred to as the “Saraf Group”), a hotel developer with a strong and well established track record in India, and affiliates of a globally recognized premier hospitality brand, Hyatt Hotels Corporation (NYSE: H) (“HHC”) (collectively with its affiliates “Hyatt”).
  • They are the only hotel development company in India with which Hyatt has a strategic investment. They own 19.6% of Hyatt group affiliated hotel rooms and apartments in India as on September 30, 2023 (source: Horwath Report) and have extensive experience in identifying opportunities in hospitality destinations, developing high-end hotels in these locations and nurturing them through active asset management. They are also focused on providing quality guest experience, while operating their assets efficiently.
  • Their hotels and serviced apartments are present across the luxury, upper upscale and upscale category of hotels and are established landmarks in Mumbai, Delhi, Ahmedabad, Lucknow, Raipur and Hampi. Besides Grand Hyatt Mumbai Hotel and Residences being the largest luxury hotel in India, the Hyatt Regency Lucknow and Hyatt Regency Ahmedabad are the largest upper upscale hotels in their respective markets and Hyatt Raipur is the only upper upscale hotel in Raipur (source: Horwath Report).
  • Company is jointly held by Saraf Hotels and its affiliate, Juniper Investments and Two Seas Holdings (an indirect subsidiary of HHC). The partnership between their key stakeholders has been built over several decades. Saraf Group, led by Arun Kumar Saraf, have over 40 years of industry experience and have developed a number of hotels across South Asia. HHC is a global hospitality company with widely recognized, industry-leading brands and a tradition of innovation developed over 65 years, with a hotel portfolio consisting of 1,310 hotels and 313,257 rooms, across full service hotels and resorts, all-inclusive resorts, select service hotels, lifestyle hotels and other properties, as of September 30, 2023. They benefit from the experience of their key shareholders and are able to leverage their long-standing brand heritage, in-depth market understanding, operational experience, and the World of Hyatt loyalty program with approximately 42 million members as of September 30, 2023.

Issue Size: Rs. 1800 crores

Issue Break-up:

QIB – 75% of the offer – Rs 1350.00 crores

NIB – 15% of the offer – Rs 270.00 crores

RET – 10% of the offer – Rs 180.00 crores

Listing: BSE and NSE

Registrar: KFin Technologies Limited

UPI: All Retail & NII bidders' (bids up to Rs. 5,00,000) applications through brokers are compulsorily in UPI Mode.

Note:

Application made using third-party UPI or ASBA Bank A/c are liable to be rejected.

The UPI Mandate acceptance time for Retail and NII Bidders (bids up to Rs 5,00,000) shall expire at 5 PM on the closing day of the IPO i.e. Friday, February 23, 2024

Not an Espresso customer, but still want to apply for the IPO? Become an Espresso customer in just 15 mins* by tapping here and take it from there! (* T&C apply)

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