26 Mar 2024 , 03:16 PM
On February 20, Juniper Hotels, owned by Saraf Hotels and Juniper Investments, along with Two Seas Holdings, an indirect subsidiary of Hyatt Hotels Corporation, successfully raised ₹810 Crore from various anchor investors ahead of its upcoming IPO.
The public issue is set to open for subscription on February 21 and will close on February 23.
A lineup of esteemed investors participated in the anchor book, including Fidelity Funds, Government Pension Fund Global, Camrignac Portfolio, The Prudential Assurance Company, HSBC Global Investment Funds, and several others. Additionally, well-known names such as Kotak Mahindra Trustee, Tata Mutual Fund, Ashoka Whiteoak ICAV, and many more invested in the Hyatt hotel chain.
Juniper Hotels disclosed in its filing to exchanges that it has allocated 2.25 Crore equity shares to anchor investors at a price of ₹360 per equity share. Among these, 75 lakh shares were allocated to seven mutual funds through a total of 15 schemes.
The luxury hotel developer, backed by the Saraf group and Hyatt Hotels Corporation, aims to raise ₹1,800 Crore through an IPO, which comprises entirely fresh issues with no offer-for-sale component. The price band for the issue has been fixed at ₹342-360 per share.
Proceeds from the IPO will primarily be used to repay a debt of ₹1,500 Crore, with the remaining funds earmarked for general corporate purposes.
Juniper Hotels, headquartered in Mumbai, operates 1,836 keys across luxury, upper upscale, and upscale categories of hotels in various Indian locations, including Mumbai, Delhi, Ahmedabad, Lucknow, Raipur, and Hampi.
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.