Juniper Hotels Limited raises ₹810 crore from anchor investors ahead of IPO

livemint.com:

₹810 crores from anchor investors ahead of its initial public offering that opens for public subscription on Wednesday, February 21, 2024. The company informed the bourses that it allocated 2,25,00,000 equity shares at ₹360 per share on Tuesday, February 20, 2024, to 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.

Also read: Juniper Hotels IPO opens tomorrow: GMP, issue details, 10 key things to know before subscribing to ₹1,800-crore issue Out of the total allocation of 2,25,00,000 equity shares to the anchor investors, 75,00,000 equity shares were allocated to 7 domestic mutual funds through a total of 15 schemes amounting to ₹270 crore i.e. 33.33% of the total anchor book size. JM Financial Limited, CLSA India Private Limited, and ICICI Securities Limited are the book-running lead managers to the Issue.

The issue is entirely a fresh issue of equity shares aggregating to ₹1,800 crore with no offer for sale component. Also read: Juniper Hotels IPO opens next week. GMP, price, other details of upcoming IPO The Company is proposing to open its initial public offering of equity shares on Wednesday, February 21, 2024, and closes on Friday, February 23, 2024.

The price band for the offer has been determined at ₹342 – ₹360 per equity share. The IPO will fetch ₹1800 crore at the upper end of the price band. Investors can bid for a minimum of 40 equity shares and in multiples of 40 equity shares thereafter.