Juniper Hotels IPO to open on 21 February: Issue price, lot size & more

IPO of Juniper Hotels, a luxury hotel development and ownership company, will be open for subscription between 21 to 23 February 2024. Here are the key things to know before you apply for this IPO:

• Juniper Hotels is a luxury hotel operator jointly held by Saraf Hotels and its affiliate, Juniper Investments and Two Seas Holdings, which is an indirect subsidiary of HHC (Hyatt Hotels Corporation).

• The company has presence across the luxury, upper upscale and upscale categories of hotels in Mumbai, Delhi, Ahmedabad, Lucknow, Raipur and Hampi. As of 30 September 2023, the company operated seven hotels and serviced apartments with 1,836 rooms.

• The company benefits from its longstanding brand tie-up with Hyatt Hotels Corporation (HHC), its understanding of the hospitality market, operational excellence, and shareholder experience.

• Between FY21 and FY23, the company saw a CAGR rise of 58% in its revenue from operations. Meanwhile, its revenue per available room grew substantially from ₹1,936 in 2021 to ₹7,479 in 2023. Despite this, the company has witnessed losses between FY21 and Q2FY24. However, the hotel sector’s GDP contribution is estimated to increase from $40 billion in 2022 to $68 billion by 2027, which could benefit the company.

• Juniper Hotels plans to raise ₹1,800 crore through the IPO. The public offer is entirely a fresh issue. The price band for the issue has been fixed at ₹342 – ₹360 per share. Lot size for this IPO is 40 equity shares, investors can bid in multiples of 40 shares.

• The money raised through the fresh issue will be utilised to repay borrowings, and for general corporate purposes. Its shares will be listed on the NSE and the BSE.

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