Juniper Hotels is all set to make its debut on the stock market with an Initial Public Offering (IPO) on February 21. The minimum number of equity shares that investors may bid on is 40, and they can bid in multiples of 40 after that. March 23 is the last day for the public issue to close. With a maximum value of Rs 1,800 crore, the issue is completely new and does not include an offer to buy. The BSE and NSE are options for the company’s share listing.
Price Band and Subscription Details
Juniper Hotels has fixed a price band of Rs 342 to Rs 360 per equity share for its upcoming IPO. The subscription window opens on February 21 and closes on February 23. Investors can bid for a minimum of 40 equity shares and in multiples of 40 equity shares thereafter, providing flexibility for both small and large investors to participate in the offering.
When it comes to how the money is being allocated, Juniper Hotels intends to use up to Rs 1,500 crore of the net proceeds. Repayment, prepayment, and redemption of some outstanding debts taken on by the business and its subsidiaries—Chartered Hotels Private Limited and Chartered Hampi Hotels Private Limited—are the main areas of focus. A portion of the proceeds will also be used for general business reasons.
Promoters and Affiliates
Juniper Hotels is backed by Saraf Hotels and its affiliate, Juniper Investments, along with Two Seas Holdings Limited—an indirect subsidiary of the globally renowned hospitality giant, Hyatt Hotels Corporation. A potential investor is given confidence by this strategic collaboration, which highlights the company’s strong base.
Financial Performance
Analyzing the financial landscape, Juniper Hotels witnessed a remarkable surge in revenue from operations in the fiscal year 2023. The figures soared by 116.03%, reaching Rs 666.85 crore compared to Rs 308.69 crore in the previous fiscal year. Furthermore, the restated loss for the year narrowed significantly to Rs 1.50 crore in FY23, showcasing the company’s commitment to financial prudence.
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