Juniper Hotels Launches IPO at price band INR342-INR360 per share

Juniper Hotels Limited, a luxury hotel development and ownership company and the largest owner of ‘Hyatt’ affiliated hotels in India by the number of keys, has revealed its plan to go public through an Initial Public Offering (IPO). The IPO will offer equity shares priced in the range of ₹342 to ₹360 per share.
The Issue of the company will open on February 21, 2024, for subscription and close on February 23, 2024. Investors can bid for a minimum of 40 Equity Shares and in multiples of 40 Equity Shares thereafter.
The Issue is entirely of a fresh issue of up to ₹ 18,000.00 million with no offer for sale component.
Of the total net proceeds to be raised through the Issue, the Company proposes to utilise up to ₹15,000.00 million towards repayment/ prepayment/ redemption, in full or in part, of certain outstanding borrowings availed by the Company and Subsidiaries, namely Chartered Hotels Private Limited and Chartered Hampi Hotels Private Limited along with general corporate purposes.
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 serviced apartments and operates a total 1,836 keys of “Hyatt” affiliated hotel keys in India as of September 30, 2023.
For the Fiscal Year 2023, the revenue from operations of the Company increased by 116.03% to ₹ 6,668.54 million against ₹ 3,086.89 million in Fiscal Year 2022. The restated loss for the year narrowed to ₹ 14.97 million in Fiscal Year 2023 from ₹ 1,880.31 million in Fiscal Year 2022.
For the six months ended September 30, 2023 revenue from operations of the Company stood at ₹ 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. The Equity Shares are proposed to be listed on the BSE and NSE.

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