Juniper Hotels IPO allotment expected today; Check status, listing date and other details

26 Mar 2024 , 03:17 PM

Juniper Hotels is set to finalize the basis of allotment for its recent public issue on Monday, February 26, with bidders expected to receive notifications regarding fund debits or IPO mandate revocations by Tuesday, February 27. The luxury hotel development and ownership company experienced a subdued response to its IPO.

Those who have applied for the IPO can check allotment status on BSE website or on the website of company’s IPO registrar, KFin Technologies Limited. 

Offered in the price band of ₹342-360 per share with a lot size of 40 equity shares, Juniper Hotels’ IPO took place between February 21 and February 23. The company successfully raised Rs ₹1,800 Crore through its primary offering, which consisted entirely of a fresh share sale of up to 5,00,00,000 equity shares.

Despite the potential, the issue was subscribed only 2.08 times due to lackluster interest across all investor categories. Qualified institutional bidders subscribed 2.96 times, while retail investors subscribed 1.28 times. However, the allocation for non-institutional investors remained undersubscribed, reaching only 85 percent of the available quota.

Established in September 1985, Juniper Hotels specializes in luxury hotel development and ownership, operating seven hotels and serviced apartments totaling 1,836 rooms as of September 30, 2023. Its properties span across Mumbai, Delhi, Ahmedabad, Lucknow, Raipur, and Hampi, offering luxury, upper upscale, and upscale accommodations.

JM Financial, ICICI Securities, and CLSA India serve as the book running lead managers for the Juniper Hotels IPO, while Kfin Technologies acts as the registrar for the issue. Shares of the company are scheduled to be listed on both BSE and NSE on Wednesday, February 28.