Juniper Hotels Ltd IPO: Luxury Hospitality Leader Set to Debut IPO
Juniper Hotels Ltd., a luxury hotel development and ownership company, is set to launch its Initial Public Offering (IPO) for subscriptions starting Wednesday, February 21. With a focus on luxury, upper upscale, and upscale category hotels across multiple Indian cities, Juniper Hotels aims to capitalize on its strong industry partnerships and track record in the hospitality sector.
Company Profile and Partnership
As outlined in the Red Herring Prospectus (RHP), Juniper Hotels operates across prominent Indian cities like Mumbai, Delhi, Ahmedabad, Lucknow, Raipur, and Hampi. The company benefits from a longstanding partnership spanning over 40 years between affiliates of Hyatt Hotels Corporation and Saraf Hotels, known collectively as the "Saraf Group." This partnership positions Juniper Hotels uniquely in the Indian hospitality market.
Financial Performance and Industry Comparison
According to the Horwath Report, as of September 30, 2023, Juniper Hotels owned a significant portion of the rooms and apartments associated with Hyatt in India. In terms of financial performance, between March 31, 2022, and March 31, 2023, the company witnessed impressive growth, with a 99.2% increase in Profit After Tax (PAT) and a remarkable 1086.6% surge in revenue.
Key Details of IPO
Here are the essential details prospective investors need to know about the Juniper Hotels IPO:
- IPO Date: The subscription for the Juniper Hotels IPO opens on February 21 and closes on February 23.
- Price Band: The IPO price band is set between Rs. 342 and Rs. 360 per equity share of face value ₹10.
- Lot Size: The lot size for the Juniper Hotels IPO is 40 equity shares, with multiples of 40 thereafter.
- Anchor Investors: Allocation to anchor investors is scheduled for February 20.
- Issue Size and Objectives: The IPO is valued at Rs. 1,800 crore and comprises a fresh issue, with proceeds aimed at general corporate purposes, debt repayment, and recent acquisitions.
- Listing Date and Allotment: Tentatively, the basis of allotment will be finalized on February 26, with refunds initiated on February 27. Shares are expected to be listed on the BSE and NSE on February 28.
This IPO presents investors with an opportunity to participate in the growth story of a leading player in the Indian hospitality industry. With its strategic partnerships, robust financial performance, and ambitious expansion plans, Juniper Hotels is poised for further success in the burgeoning Indian hospitality market.
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As the IPO subscription window opens, investors will closely monitor the response, anticipating the company's listing and subsequent market performance on February 28.
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