Juniper Hotels IPO: Low Subscription on Day 1

21 Feb 2024 , 06:37 PM

The Juniper Hotels initial public offering (IPO) is up for subscription. It closes on Friday, February 23. Here is another hotel company in the main market, following the recently listed Apeejay Surrendra Park Hotel on the stock exchange. A luxury hotel development and ownership company, Juniper Hotels Ltd. operates in the luxury, upper upscale, and upmarket hotel categories in a number of Indian cities, including Mumbai, Delhi, Ahmedabad, Lucknow, Raipur, and Hampi. Click here to subscribe the IPO.

According to BSE data, bids for 32,50,160 shares have been received for the Juniper Hotels IPO, out of the 2,89,47,367 shares that are being offered.

The first-day subscription rate for retail investors is 52%, the reservation rate for non-institutional investors (NII) is 6%, and the reservation rate for qualified institutional buyers (QIB) is still pending.

The company’s listed peers, according to the RHP, are EIH Limited (P/E of 58.71), Lemon Tree Hotels Limited (P/E of 95.52), The Indian Hotels Company Limited (P/E of 66.78), and Chalet Hotels Limited (P/E of 84.37).

The pricing range for Juniper’s initial public offering (IPO) is set at ₹342 to ₹360 for each equity share with a face value of ₹10.40 equity shares make up each Juniper IPO lot, and they are then sold in multiples of 40 equity shares. The IPO of Juniper Hotels raised ₹810 Crores on Monday, February 20, from anchor investors. The business informed the stock exchanges that it had given anchor investors 2,25,00,000 equity shares at a price of ₹360 each.

The Juniper Hotels Initial Public Offering (IPO) has set aside a minimum of 75% of its shares for Qualified Institutional Buyers (QIB), a maximum of 15% for Non Institutional Investors (NII), and a maximum of 10% for Retail Investors.

Juniper Hotels Limited saw a 99.2% increase in profit after tax (PAT) and a 1086.6% growth in sales between March 31, 2022, and March 31, 2023.

Today’s IPO subscription status for Juniper Hotels was 11%, according to BSE statistics.

 

For feedback and suggestions, write to us at [e-mail]