Juniper Hotels, a luxury hotel developer operating Hyatt properties in India, is set to launch its initial public offering (IPO) on February 21. Here’s all the information available so far:
The public issue will be open for subscription from February 21 to February 23. The price band for the IPO will be announced shortly. This IPO amounts to ₹1,800 crore and consists entirely of fresh shares.
Juniper Hotels is a leading luxury hotel development and ownership entity in India, holding the largest ownership share of Hyatt-affiliated hotels in the country as of September 30, 2023. The company operates 1,836 keys across luxury, upper upscale, and upscale categories in cities like Mumbai, Delhi, Ahmedabad, Lucknow, Raipur, and Hampi.
About 75% of the IPO is reserved for Qualified Institutional Buyers (QIBs), while up to 10% is reserved for retail investors, and up to 15% is reserved for Non-institutional investors (NIIs).
The proceeds from the IPO, amounting to ₹1,500 crore, will primarily be used to clear existing debts, with the remaining funds allocated for general corporate purposes.
The promoters of Juniper Hotels 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, with Kfin Technologies Limited acting as the registrar for the issue.
Juniper Hotels Limited reported a significant increase in revenue and profit after tax (PAT) for the financial year ending March 31, 2023, with revenue up by 108.66% and PAT rising by 99.2%.
Stay tuned for more updates as the IPO subscription period approaches.