Juniper Hotels IPO: The initial public offering of Juniper Hotels, which runs hotels under the Hyatt brand, was subscribed 2.08 times on the final day of offer on Friday. The Rs 1,800-crore IPO received bids for 6,01,14,160 shares against 2,89,47,367 shares on offer.
The allotment of Juniper Hotels IPO will take place on February 26, while its listing will take place on both BSE and NSE on February 28, 2024.
The category for Retail Individual Investors (RIIs) got subscribed 1.28 times, quota for non-institutional investors received 85 per cent subscription, and the portion for Qualified Institutional Buyers (QIBs) got subscribed 2.96 times.
On Tuesday, Juniper Hotels said it has garnered Rs 810 crore from anchor investors.
Juniper Hotels IPO: How To Check Allotment Status
Once the IPO allotment is finalised on February 26, the status can be checked by following these steps:
1) Go to the official BSE website via the URL —https://www.bseindia.com/investors/appli_check.aspx.
2) Under ‘Issue Type’, select ‘Equity’.
3) Under ‘Issue Name’, select ‘Juniper Hotels Limited’ in the dropbox.
4) Enter your application number, or the Permanent Account Number (PAN).
Your share application status will appear on your screen.
You can also visit direct KFin Tech portal — https://rti.kfintech.com/ipostatus/ and check Juniper Hotels IPO allotment status.
Juniper Hotels IPO GMP Today
According to market observers, unlisted shares of Juniper Hotels Ltd are trading just Rs 2 higher in the grey market as compared with its issue price. The Rs 2 grey market premium or GMP means the grey market is expecting a negligible 0.56 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Juniper Hotels IPO Details
The IPO is entirely a fresh issue of equity shares worth Rs 1,800 crore and the price band is Rs 342-360 apiece.
Funds to the tune of Rs 1,500 crore will be utilised for repayment of debt availed by the company and subsidiaries — Chartered Hotels Pvt Ltd and Chartered Hampi Hotels Pvt Ltd.
Besides, a portion of the proceeds will be used for general corporate purposes.
The hospitality firm had a portfolio of seven hotels and serviced apartments and operated 1,836 keys across the luxury, upper upscale, and upscale categories of hotels in India as of September 2023.
Currently, Saraf Hotels owns a 44.68 per cent stake in Juniper Hotels, Two Seas Holdings holds a 50 per cent stake and the remaining 5.32 per cent shareholding is with Juniper Investments.
The equity shares of the company will be listed on the BSE and NSE.
JM Financial, CLSA India and ICICI Securities Ltd are the book-running lead managers to the issue.
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