Juniper Hotels Sees Modest Entry on Stock Exchange

The highly anticipated debut of Juniper Hotels witnessed a lukewarm reception as it listed at a modest 1.38 percent premium to the IPO price on February 28. The stock opened at INR 365 on the NSE and INR 361.2 on the BSE, slightly above its issue price of INR 360.

Despite initial enthusiasm reflected in a 1 percent premium during the IPO opening on February 21, the stock’s grey market premium was entirely wiped off before its listing. The grey market, an unofficial platform where shares trade before allotment and until the listing day, serves as a barometer for investors gauging potential listing prices.