Juniper Hotels sets price band at Rs 342-360 for Rs 1,800-cr IPO opening on Feb 21

Juniper Hotels is a luxury hotel development and ownership company, and are the largest owner, by number of keys of “Hyatt” affiliated hotels in India as of September 30, 2023.

Luxury hotel developer Juniper Hotels, which runs some properties under the Hyatt chain in India, has set the price band for its public issue at Rs 342-360 per share of the face value of Rs 10 each. The IPO will be open for subscription from February 21 to 23.

The Rs 1,800-crore IPO comprises a fresh issue, with no offer-for-sale component, with around 10 percent of the issue reserved for retail investors.

Retail investors can bid for a minimum of 40 shares and in multiples of 40 after that. Hence the minimum investment by retail investors would be Rs 13,680. At the upper end, the bidding amount will increase to Rs 14,400.

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Juniper Hotels is a luxury hotel development and ownership company, and are the largest owner, by the number of keys of 'Hyatt' affiliated hotels in India as of September 30, 2023.

"We operated 1,836 keys across the luxury, upper upscale and upscale category of hotels across various locations in India, namely Mumbai, Delhi, Ahmedabad, Lucknow, Raipur and Hampi. We benefit from a unique partnership between Saraf Hotels (and its affiliates) and affiliates of, Hyatt Hotels Corporation," the company said in its RHP.

The company has a portfolio of seven hotels and serviced apartments and as on September 30, 2023.

Juniper Hotels will use the proceeds to repay a debt of Rs 1,500 crore, the documents said. The remaining funds will be utilised for general corporate purposes.

Its net loss for the year ended March FY23 stood at Rs 1.5 crore, down significantly from Rs 188 crore in the previous year. Revenue from operations more than doubled to Rs 666.85 crore, from Rs 308.7 crore during the same period.