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06 May 2024

Juniper Hotels Limited IPO

Juniper Hotels Ltd. (JHL) is a luxury hotel development and ownership company and is the largest owner, by number of Keys of "Hyatt" affiliated hotels in India as of September 30, 2023. It has a portfolio of seven hotels and serviced apartments and operates a total of 1,836 keys as of September 30, 2023. JHL benefits from a unique and longstanding partnership of over 40 years between Saraf Hotels, a hotel developer with a strong and well established track record in India and affiliates of a globally recognized premier hospitality brand, Hyatt Hotels Corporation. JHL is the only hotel development company in India with which Hyatt has a strategic investment. It owns 19.6% of Hyatt group affiliated hotel rooms and apartments in India as on September 30, 2023 and has extensive experience in identifying opportunities in hospitality destinations, developing high-end hotels in these locations and nurturing them through active asset management.

The company is also focused on providing quality guest experience, while operating its assets efficiently. Juniper Hotels IPO is a book built issue of Rs 1,800.00 crores. The issue is entirely a fresh issue of 5 crore shares. Juniper Hotels IPO price band is set at ₹342 to ₹360 per share. The minimum lot size for an application is 40 Shares. Jm Financial Limited, Clsa India Private Limited and ICICI Securities Limited are the book running lead managers of the Juniper Hotels IPO, while Kfin Technologies Limited is the registrar for the issue.

Juniper Hotels IPO Overview

Detail	Description
IPO Date	February 21, 2024 to February 23, 2024
Listing Date	February 28, 2024
Face Value	₹10 per share
Price Band	₹342 to ₹360 per share
Lot Size	40 Shares
Total Issue Size	50,000,000 shares (aggregating up to ₹1,800.00 Cr)
Fresh Issue	50,000,000 shares (aggregating up to ₹1,800.00 Cr)
Issue Type	Book Built Issue IPO
Listing At	BSE, NSE
Share holding pre issue	172,502,384
Share holding post issue	222,502,384

Juniper Hotels IPO Timeline (Tentative Schedule)

Detail	Description
IPO Open Date	Wednesday, February 21, 2024
IPO Close Date	Friday, February 23, 2024
Basis of Allotment	Monday, February 26, 2024
Initiation of Refunds	Tuesday, February 27, 2024
Credit of Shares to Demat	Tuesday, February 27, 2024
Listing Date	Wednesday, February 28, 2024
Cut-off time for UPI mandate confirmation	5 PM on February 23, 2024

Juniper Hotels IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	40	₹14,400
Retail (Max)	13	520	₹187,200
S-HNI (Min)	14	560	₹201,600
S-HNI (Max)	69	2,760	₹993,600
B-HNI (Min)	70	2,800	₹1,008,000

Juniper Hotels IPO Reservation

Investor Category	Shares Offered	Maximum Allottees
Anchor Investor Shares Offered	22,500,000 (45.00%)	NA
QIB Shares Offered	15,000,000 (30.00%)	NA
NII (HNI) Shares Offered	7,500,000 (15.00%)
bNII > ₹10L	5,000,000 (10.00%)	8,928
sNII < ₹10L	2,500,000 (5.00%)	4,464
Retail Shares Offered	5,000,000 (10.00%)	125,000
Total Shares Offered	50,000,000 (100%)

Juniper Hotels IPO Promoter Holding

Share Holding Pre Issue	100.00%
Share Holding Post Issue	77.53%

Juniper Hotels IPO Anchor Investors Details

Bid Date	February 20, 2024
Shares Offered	22,500,000
Anchor Portion Size (In Cr.)	810.00
Anchor lock-in period end date for 50% shares (30 Days)	March 27, 2024
Anchor lock-in period end date for remaining shares (90 Days)	May 26, 2024

Company & Financials

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.

Juniper Hotels Limited Financial Information

Period Ended	30 Sep 2023	31 Mar 2023	31 Mar 2022	31 Mar 2021
Assets	3,837.83	3,020.27	3,069.86	3,055.54
Revenue	337.43	717.29	343.76	192.85
Profit After Tax	-26.50	-1.50	-188.03	-199.49
Net Worth	859.67	354.51	356.37	543.90
Reserves and Surplus	687.17	210.81	212.67	400.20
Total Borrowing	2,252.75	2,045.61	2,121.81	1,830.48
Amount in ₹ Crore

Key Performance Indicator

KPI	Values
RoNW	-0.42%

Objectives of Juniper Hotels IPO

The net proceeds of the Issue, i.e., gross proceeds of the Issue less the Issue related expenses are proposed to be utilized 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 CHHPL and CHPL.
2. General corporate purposes.

Juniper Hotels IPO Review

Well, though the financial performance so far has seen negative trends at PAT levels, it is the highest gross profit earning hospitality company with well-known global brand “Hyatt” as well as investor global partner. As the issue is at a negative P/E due to its loss making status at the net level, it is meant for well-informed investors to park funds for handsome rewards in the medium to long term.

FAQs for Juniper Hotels IPO

What Is The Allotment Date Of The Juniper Hotels IPO?

The allotment date of Juniper Hotels IPO is February 26, 2024.
What Is The Price Band Of The Juniper Hotels IPO?

The price band of the shares issued by the company is INR 342-360 per share.
What Is The Size Of The Juniper Hotels IPO?

Juniper Hotels Limited consists of a fresh issue of shares worth INR 1800 crores. The company seeks funds to repay, prepay, or redeem loans, including those from recent acquisitions (CHPL, CHHPL), for general corporate use.
What Is The Listing Date Of The Juniper Hotels IPO?

The listing date of the Juniper Hotels IPO is February 28, 2024.