Juniper Hotels, owned by Saraf Hotels and its affiliate Juniper Investments, and Two Seas Holdings, an indirect subsidiary of Hyatt Hotels Corporation, has raised Rs 810 crore from several anchor investors ahead of IPO, on February 20.
The public issue will open for subscription on February 21 and the closing date will be February 23.
Marquee investors including Fidelity Funds, Government Pension Fund Global, Camrignac Portfolio, The Prudential Assurance Company, HSBC Global Investment Funds, Nedgroup Investment Funds, Marshall Wace Investment Strategies, Natixis International Funds, Schroder International, GAM Multistock, Goldman Sachs, and Societe Generale participated in the anchor book.
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Further, Kotak Mahindra Trustee, Tata Mutual Fund, Quant Mutual Fund, Ashoka Whiteoak ICAV, Baroda BNP Paribas Mutual Fund, ICICI Prudential Life Insurance Company, HDFC Life Insurance Company, Invesco India Equity Fund, Jupiter India Fund, Aditya Birla Sun Life Insurance Company, Bandhan Mutual Fund, Avendus, and Tata AIA Life Insurance, also, invested in the Hyatt hotel chain.
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Juniper Hotels in its filing to exchanges said it has finalised allocation of 2.25 crore equity shares to anchor investors, at a price of Rs 360 per equity share.
Out of the total allocation to anchor investors, 75 lakh shares were allocated to seven mutual funds which have applied through a total of 15 schemes, it added
The Saraf group and Hyatt Hotels Corporation-backed luxury hotel developer intends to raise Rs 1,800 crore through an initial public offering (IPO), which is entirely a fresh issue with no offer-for-sale component.
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The price band for the issue has been fixed at Rs 342-360 per share.
Juniper Hotels will use the proceeds to repay a debt of Rs 1,500 crore, while the remaining funds will be utilised for general corporate purposes.
The Mumbai-based hotel chain operates 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.
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