Juniper Hotels IPO: As of February 22, the second day of bidding, investors’ response to Juniper Hotels’ public offering has been muted, with only 13% of investors subscribing. High net-worth people purchased 0.07 times the allotment, while retail investors bid 63%.
The company intends to issue an additional 5 crore shares to raise Rs 1,800 crore. The issue has a price range of Rs 342-360 per share and is scheduled to close on February 23. The money raised will be used by the business to pay back its debts as well as those from its most recent purchases, CHPL and CHHPL. The money that is left over will be applied to basic business needs.
The anchor book opened for a single day on February 20, during which the company garnered Rs 810 crore from multiple anchor investors. Notable participants in the anchor book included Fidelity Funds, Government Pension Fund Global, Camrignac Portfolio, The Prudential Assurance Company, HSBC Global Investment Funds, Nedgroup Investment Funds, Marshall Wace Investment Strategies, Natixis International Funds, Schroder International, GAM Multistock, Goldman Sachs, and Societe Generale.
Juniper Hotels IPO
Juniper Hotels’ net loss fell to Rs 1.5 crore in FY23, from Rs 188 crore in FY22, while revenue more than quadrupled to Rs 666.85 crore. However, for the six months ended September 2023, the net loss increased to Rs 26.5 crore from the previous year’s period. The total borrowings during the same period were 2,252.74 crore.
JM Financial, CLSA India, and ICICI Securities act as the book-running lead managers for the issuance, while Kfin Technologies fulfills the role of registrar. The company’s promoters include Arun Kumar Saraf, Saraf Hotels, Two Seas Holdings, and Juniper Investments.
As of September 30, 2023, Juniper Hotels, a premium hotel development and ownership company, held the most number of keys among Hyatt-affiliated hotels in India. The company offers seven serviced flats and motels in its portfolio.
