Juniper Hotels' Rs 1,800 crore IPO to open on February 21. Check details
Juniper Hotels, which runs hotels under the «Hyatt» brand, announced the dates for its maiden public offer on Wednesday. The Rs 1,800-crore issue will open for subscription on February 21 and close on February 23.
The IPO with a face value of Rs 10 is entirely a fresh equity with no offer for sale (OFS) component. The price band for the public offer will be announced soon.
About 75% of the IPO is reserved for qualified institutional buyers, 15% for non-institutional investors and the rest 10% for retail investors.
The company proposes to use the net proceeds of Rs 1,500 crore towards repayment, prepayment, or redemption, in full or in part, of certain outstanding borrowings (including payment of the interest accrued thereon) availed by the company and its subsidiaries and for general corporate purposes.
Juniper Hotels is co-owned by Saraf Hotels and Two Seas Holdings, an affiliate of the prominent global hospitality entity, Hyatt Hotels Corp.
It functions as a luxury hotel development and ownership enterprise and owns 20% of the total 1836 Hyatt-affiliated keys in India as of June 2023. The company manages a diverse portfolio consisting of seven hotels and serviced apartments.
The hotels and serviced apartments span across various categories including luxury, upper upscale, and upscale, located across six strategic cities in Mumbai, Delhi, Ahmedabad, Lucknow, Raipur, and Hampi. Notably, the Grand Hyatt Mumbai Hotel and Residences holds the distinction of being the largest hotel in India.
For the fiscal year
