Juniper Hotels IPO receives tepid response on day 1; Issue booked 12%, QIB portion left unsubscribed
Juniper Hotels IPO: The initial public offering (IPO) of Juniper Hotels received a tepid response from investors on the first day of subscription. Not much enthusiasm was expressed by the retail investors, and there was very little response from non-institutional investors (NIIs), while the portion reserved for qualified institutional buyers (QIBs) was left unsubscribed.
The issue received bids of 32,50,160 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 11 per cent, while the portion reserved for retail investors was booked 57 per cent.
The portion reserved for NIIs was booked 0.06 times, whereas QIBs are yet to submit their bids. The issue kicked off for subscription on Wednesday, February 21, 2024 and will close on Friday, February 23, 2024.
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.
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