Juniper Hotels IPO receives muted response on day 2; Issue booked 23%, retail portion subscribed 87%
Juniper Hotels IPO: The initial public offering (IPO) of Juniper Hotels continued to receive a tepid response from investors on the second day of subscription. Juniper Hotels IPO has reserved not less than 75 per cent of the shares in the public issue for qualified institutional buyers (QIB), not more than 15 per cent for the non institutional investors (NII), and not more than 10 per cent of the offer is reserved for retail investors. Also Read: Juniper Hotels IPO: Price band set at ₹342-360 per share; check GMP, key dates, issue details, more The issue received bids of 66,08,160 shares against the offered 2,89,47,367 equity shares, at a price band of ₹342-360, according to the data available on the stock exchanges.
The overall issue was subscribed 23 per cent, while the portion reserved for retail investors was booked 87 per cent. The portion reserved for NIIs was booked 0.14 per cent, whereas QIBs' was subscribed 0.06 per cent. On the first day, the issue was booked only 12 per cent.
The issue kicked off for subscription on Wednesday, February 21, 2024 and will close on Friday, February 23, 2024. Juniper Hotels IPO, which is worth ₹1,800 crore, completely comprises a fresh issue, and there is no offer-for-sale component. The lot size is 40 equity shares and in multiples of 40 equity shares thereafter.
A day prior to the opening of the issue, Juniper Hotels Ltd had raised ₹810 crore from anchor investors. Foreign and Domestic Institutions who participated in the anchor were Fidelity, Kotak Mahindra MF, Government Pension Fund (Norges), White Oak, Schroder, The Prudential Assurance Company (MNG), Invesco, ICICI Prudential Life Insurance, HDFC Life Insurance and Quant Mutual Fund. Juniper Hotels Ltd is a luxury hotel
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