Juniper Hotels Limited IPO Detail
Incorporated in September 1985, Juniper Hotels Limited is a luxury hotel development and ownership company. As of September 30, 2023, the company operates seven hotels and serviced apartments with a total of 1,836 rooms.
The company's hotels and serviced apartments in Mumbai, Delhi, Ahmedabad, Lucknow, Raipur, and Hampi are landmarks in the luxury, upper upscale and upscale categories. Grand Hyatt Mumbai Hotel and Residences is India's largest luxury hotel, while Hyatt Regency Lucknow and Hyatt Regency Ahmedabad are the biggest upper upscale hotels in their respective markets. Finally, Hyatt Raipur is the only upper upscale hotel in Raipur.
Juniper Hotels is co-owned by Saraf Hotels Ltd and Two Seas Holdings Ltd, an affiliate of Hyatt Hotels Corporation, forming a strategic partnership between a hotel developer and an international hospitality company.
The company has been honored with several awards, including the "Best Luxury Business Hotel in Delhi" at the Today's Traveller Awards in 2022 for Andaz Delhi, and the "Best 5 Star Hotel in Gujarat" at the Gujarat Tourism Awards in 2022 for Hyatt Regency Ahmedabad.
The revenue from operations increased from ₹1,663.51M in Fiscal 2021 to ₹3,086.89M in Fiscal 2022 and ₹6,668.54M in Fiscal 2023.
As of Sep 30, 2023, the company has 116 serviced apartments in Grand Hyatt Mumbai and 129 serviced apartments in Hyatt Delhi.
As of September 30, 2023, the company had a total of 1,631 permanent employees. The CHPL Group had a total of 362 permanent employees. Together, they had a total of 1,993 employees.
Company Promoters
Arun Kumar Saraf, & Saraf Hotels Limited, Two Seas Holdings Limited and Juniper Investments Limited.IPO Details
| IPO Opening Date | Feb 21, 2024 |
| IPO Closing Date | Feb 23, 2024 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹342 - 360 per equity share |
| Market Lot | 40 Shares |
| Min Order Quantity | 40 Shares |
| Listing At | BSE, NSE |
| Issue Size | ₹1,800 Cr |
| Fresh Issue | ₹1,800 Cr |
| Offer for Sale | - |
| Retail Portion | 10% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.00x | - | - | 0.07x | 0.57x | 0.12x |
| Day 2 | 0.06x | - | - | 0.15x | 0.93x | 0.24x |
| Day 3 | 3.11x | - | - | 0.89x | 1.31x | 2.18x |
IPO Tentative Timetable
The Juniper Hotels Limited IPO open date is Feb 21, 2024, and the close date is Feb 23, 2024. The issue may list on Feb 28, 2024.
| IPO Open Date | Feb 21, 2024 |
| IPO Close Date | Feb 23, 2024 |
| Basis of Allotment Date | Feb 26, 2024 |
| Initiation of Refunds | Feb 27, 2024 |
| Credit of Shares to Demat Account | Feb 27, 2024 |
| IPO Listing Date | Feb 28, 2024 |
IPO Lot Size
The Juniper Hotels Limited IPO market lot size is 40 shares. A retail-individual investor can apply for up to 13 lots (520 shares or ₹187200).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 40 | ₹14400 |
| Maximum | 13 | 520 | ₹187200 |
IPO Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding |
Company Financials:
For the year/period ended (₹ in Cr.)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 3055.54 | 192.85 | -199.49 |
| 31-Mar-22 | 3069.86 | 343.76 | -188.03 |
| 31-Mar-23 | 3020.27 | 717.29 | -1.50 |
| 30-Sep-23 | 3837.83 | 337.43 | -26.50 |
Objects of the Issue:
The net proceeds of the Issue, i.e., gross proceeds of the Issue less the Issue related expenses are proposed to be utilised in the following manner:
1. Repayment/ prepayment/ redemption, in full or in part, of certain outstanding borrowings availed by the Company and its recent acquisitions, namely CHPL and CHHPL; and
2. General corporate purposes.
Juniper Hotels Limited IPO Registrar:
KFin Technologies Limited
Juniper Hotels Limited IPO Lead Manager(s):
Jm Financial Limited, Clsa India Private Limited, ICICI Securities Limited.
Company Contact Information:
Juniper Hotels Limited
Off Western Express Highway
Santacruz East,
Mumbai 400 055
