Mumbai: Juniper Hotels Limited announced their Initial Public Offering (IPO) that has been priced between Rs 342 to Rs 360 per equity share, and will be opening on February 21, 2024 and closing on February 23, 2024.
The Equity Shares are proposed to be listed on the BSE and NSE.
Juniper is a luxury hotel development and ownership company and the largest owner – by number of keys — of “Hyatt” affiliated hotels in India as of September 30, 2023.
Arun Kumar Saraf, CMD, Juniper Hotels Limited, said the Rs 1800 crore IPO would be utilized towards repayment/prepayment/redemption, in full or part, of certain outstanding borrowings availed by the Company and Subsidiaries, besides general corporate purposes.
“Our growth strategy includes: refurbishment of our rooms, creating very high MICE space, creation of 317 more rooms, ‘Greenfield’ development, increasing market share and focus on select geographies.
The Company is promoted by Saraf Hotels Limited and its affiliate, Juniper Investments Limited and Two Seas Holdings Limited – an indirect subsidiary of a global hospitality company – Hyatt Hotels Corporation.
The Company owns and manages a portfolio consisting of seven hotels and service apartments and operates total 1,836 keys of “Hyatt”-affiliated hotel keys in India as of September 30, 2023. Its hotels and service apartments are classified under: Luxury, Upper Upscale and Upscale.
The Company’s Revenue for fiscal 2023 increased by 116.03% to Rs 6,668.54 million against Rs 3,086.89 million in fiscal 2022. The revenue for six months ended September 30, 2023 stood at Rs 3,361.12 million.
JM Financial Limited, CLSA India Private limited and ICICI Securities Limited are the book-running lead managers to the issue and KFin Technologies Limited is the registrar to the issue.
