Juniper Hotels board approves proposal to acquire Novotel Imagicaa hotel for ₹248 crore; shares jump 10% in a month

According to a regulatory filing dated September 16, the proposed transaction comprises acquisition of Novotel Imagicaa, an operating hotel undertaking located in Khopoli, District Raigad, Maharashtra.

The hotel undertaking will be acquired for an aggregate lump-sum purchase consideration of ₹248 crore at approximately ₹86 lakh per key, subject to the terms and conditions of the definitive agreements.

The hotel comprises approximately 11 acres of land, with a built-up area of approximately 2,80,000 sq. ft., comprising 287 guest rooms, along with restaurants, banquet and meeting facilities, recreational amenities and other associated hotel infrastructure.

The proposed acquisition is aligned with Juniper’s hospitality business and adds an established, cash generating, 287-key hotel in the Mumbai–Pune corridor, catering to leisure, social and Meetings, Incentives, Conferences, and Exhibitions (MICE) demand, the company said.

Juniper Hotels further stated that, “based on the information available at present”, the proposed transaction is expected to completed on or before March 31, 2027.

The firm said that the completion of the acquisition is subject to execution of definitive agreements, satisfaction of customary closing conditions, and receipt of any required statutory, regulatory, and other approvals.

Commenting on the acquisition, Arun Kumar Saraf, Chairman & Managing Director, Juniper Hotels Limited said: “At Juniper, our growth journey has always been guided by a simple principle: grow with purpose and create value for the long term. Novotel Imagicaa represents the kind of asset we look for. It is an established hospitality property with scale, a strong destination proposition, and multiple demand generators.”

Saraf further stated that the company’s upcoming developments will significantly expand its scale, adding that it remains focused on owning the ‘Right Assets’ in the right markets, large, capable of generating diversified revenue streams across rooms, F&B, MICE, serviced apartments, commercial spaces and other hospitality offerings.

“We intend to pursue this growth with capital discipline, strong internal cash generation and a healthy balance sheet, and selectively evaluate acquisition opportunities where we see a compelling strategic fit,” Saraf added.

Juniper Hotels stock performance

Shares of Juniper Hotels closed 0.24% lower at ₹214.32 per unit on the National Stock Exchange (NSE) on Wednesday, September 16.

The scrip has gained 10% over the month but lost 15% on a year-to-date (YTD) basis. While the stock hit a 52-week high of ₹312.50 per equity share on September 19, 2025, it touched a year’s low of ₹188.50 apiece on March 30, 2026.

Juniper Hotels has a total market capitalisation of ₹4,768.67 crore as of September 16, 2026.