Juniper Hotels, a luxurious lodge developer working properties below the Hyatt chain in India, has introduced its preliminary public providing (IPO) with a price band set at Rs 342-360 per share of face worth Rs 10 every. The IPO, valued at Rs 1,800 crore, will probably be open for subscription from February 21 to 23.
This IPO consists solely of a contemporary issue, with none offer-for-sale part, with roughly 10 per cent of the issue reserved for retail traders. Retail traders can bid for at least 40 shares and in multiples of 40 thereafter, requiring a minimal funding of Rs 13,680. At the higher finish of the price band, the bidding quantity will increase to Rs 14,400.
Juniper Hotels, as of September 30, 2023, is the most important proprietor of ‘Hyatt’ affiliated resorts in India, working 1,836 keys throughout numerous luxurious, higher upscale, and upscale resorts in Mumbai, Delhi, Ahmedabad, Lucknow, Raipur, and Hampi. The firm advantages from a partnership between Saraf Hotels (and associates) and Hyatt Hotels Corporation.
The firm’s portfolio consists of seven resorts and serviced residences. The proceeds from the IPO, primarily geared toward repaying a debt of Rs 1,500 crore, may also be utilised for basic company functions. Despite a internet lack of Rs 1.5 crore for the fiscal 12 months ended March FY23, down considerably from Rs 188 crore within the earlier 12 months, the income from operations more than doubled to Rs 666.85 crore from Rs 308.7 crore throughout the identical interval.
