The demerger is estimated to take 10 to 12 months to complete, depending on clearances from shareholders, stock exchanges, and SEBI.
The hotel will have 80 rooms, a restaurant, a rooftop lounge bar, a swimming pool, a fitness facility, banquet spaces and other common facilities.
Sinclairs Palace Retreat Udaipur is a large resort spread across 5 acres of land on Haldighati Road, around 35 kilometres from Udaipur.
The company has already secured ₹810 crore from anchor investors ahead of the issue opening.
The public issue, valued at ₹1,800 Crore, witnessed a subscription of 2.08 times during the period of February 21-23.
Juniper Hotels IPO offered in the price band of ₹342-360 per share with a lot size of 40 equity shares
On Wednesday, February 21, the Juniper initial public offering (IPO) went live, and it ends today, Friday, February 23.
The company aims to raise ₹1,800 Crore through a fresh issuance of 5 Crore shares
On February 20, the company raised ₹810 Crore from multiple anchor investors during the first day of the anchor book.
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