Juniper Hotels IPO opens on February 21; the price band for the IPO will be disclosed shortly

Juniper Hotels, a luxury hotel developer operating Hyatt properties in India, is preparing for its initial public offering (IPO). The IPO will commence on February 21 and conclude on February 23. The price band for the IPO will be disclosed shortly. The offering amounts to ₹1,800 crore and comprises entirely of fresh shares.

Juniper Hotels operates 1,836 hotel rooms across luxury, upper upscale, and upscale categories in various Indian locations including Mumbai, Delhi, Ahmedabad, Lucknow, Raipur, and Hampi. As of September 30, 2023, it holds the largest ownership share of Hyatt-affiliated hotels in India.

The IPO allocates at least 75% for Qualified Institutional Buyers (QIBs), up to 10% for retail investors, and up to 15% for Non-Institution

al Investors (NIIs).

The primary objective of the IPO is to clear a debt of ₹1,500 crore, with the remaining funds earmarked for general corporate purposes. The promoters of the company include Arun Kumar Saraf, Saraf Hotels Limited, Two Seas Holdings Limited, and Juniper Investments Limited.

Jm Financial Limited, Clsa India Private Limited, and ICICI Securities Limited are the book-running lead managers for the IPO, with Kfin Technologies Limited serving as the registrar.

Juniper Hotels recorded a significant increase in revenue by 108.66% and profit after tax (PAT) by 99.2% in the fiscal year ending March 31, 2023.

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