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Juniper Hotels IPO: Subscription Improves Over Days

26 Mar 2024 , 03:17 PM

Juniper Hotels' IPO saw a lukewarm response from investors on its second day of subscription, with 0.06 times subscription for QIBs, 0.19 times for NIIs, and 1.00 times for retail investors.

The total bids amounted to 66,08,160 shares against the offered 2,89,47,367 equity shares, priced between ₹342-360. Juniper Hotels IPO, valued at ₹1,800 Crore, comprises only a fresh issue, with a lot size of 40 equity shares and multiples of 40 thereafter.

The subscription period started on February 21, 2024, and concludes on February 23, 2024. Anchor investors contributed ₹810 crore a day before the issue opened, with notable participants like Fidelity, Kotak Mahindra MF, Norges, White Oak, Schroder, Prudential Assurance, Invesco, ICICI Prudential Life Insurance, HDFC Life Insurance, and Quant Mutual Fund.

Juniper Hotels Ltd operates luxury hotels in Mumbai, Delhi, Ahmedabad, Lucknow, Raipur, and Hampi, managing 1,836 keys across seven properties as of September 30, 2023.

The net proceeds from the IPO will be utilized for general corporate purposes, repayment of certain outstanding borrowings, and recent acquisitions - Chartered Hotels Private Limited and Chartered Hampi Hotels Private Limited.

The IPO basis of allotment is expected to be finalized on February 26, with refunds initiated on February 27. The shares are likely to be listed on BSE and NSE on February 28.

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