iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Juniper Hotels Files IPO Draft Documents with Sebi to Raise Rs 1,800 Crore

3 Oct 2023 , 09:32 AM

Juniper Hotels, a company backed by the Saraf Group and Hyatt Hotels Corporation, has submitted a draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (Sebi) for an initial public offering (IPO) aimed at raising Rs 1,800 crore.

The IPO will consist solely of a fresh issue of shares, with no offer-for-sale component. Prior to the DRHP filing with the Registrar of Companies, the company may raise Rs 350 crore through a private placement (pre-IPO placement), and if successful, the issue size will be adjusted accordingly.

Juniper Hotels is jointly owned by Saraf Hotels, Juniper Investments, and Two Seas Holdings, an indirect subsidiary of Hyatt Hotels Corporation. The company operates a portfolio of seven hotels and serviced apartments, offering a total of 1,836 rooms.

The IPO proceeds will primarily be used to repay a debt of Rs 1,500 crore, with the remaining funds allocated for general corporate purposes. As of March 2023, the company and its subsidiary MHPL had outstanding borrowings of Rs 2,045.6 crore, while subsidiaries CHPL and CHHPL had a debt of Rs 201.8 crore.

Juniper Hotels recently acquired a 100% shareholding in CHPL on September 20, integrating it and its subsidiary CHHPL into its operations.

Despite having the largest inventory of upper-tier branded serviced apartments in Mumbai and New Delhi, including properties like the Grand Hyatt Mumbai Hotel and Residences and Andaz Delhi, the company has reported losses, as indicated in the DRHP.

JM Financial Ltd, CLSA India Private Ltd, and ICICI Securities Ltd will serve as the book-running lead managers for the IPO, while KFin Technologies Ltd will act as the registrar. The equity shares are expected to be listed on both the BSE and NSE.

Juniper Hotels Files IPO Draft Documents with Sebi to Raise Rs 1,800 Crore

Related Tags

  • Hyatt Hotels Corporation
  • Juniper Hotels
  • Juniper Hotels IPO
  • Juniper Hotels IPO drhp
  • Juniper Hotels SEBI
  • Saraf Group
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Securities Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.