look news india
IPO of a 5 star hotel operator company is going to come soon. This is the IPO of Juniper Hotels and its subscription is going to start from next week.
Juniper Hotels is a company that develops, owns and operates luxury hotels. The company operates luxury hotels under the Hyatt brand name.
This also includes 5 star hotels. The company currently operates 7 hotels and serviced apartments with 1,836 rooms. It is a joint venture between Saraf Hotels Limited and Two Seas Holdings Limited.
Juniper Hotels IPO will open on February 21. Bids for IPO can be placed till 23 February. The company has fixed the price band of Rs 342 to Rs 360 for 10 face value shares in the IPO. There are 40 shares in one lot. This means that a retail investor will need at least Rs 14,400 to bid in this IPO.
The total size of Juniper Hotels' IPO is Rs 1,800 crore. There will be no offer for sale in this IPO. That means 1,800 crore new shares will be issued. Its shares will be deposited in the demat accounts of successful investors on 27th February. After the IPO, the company's shares will be listed on BSE and NSE on 28 February.
The registrar of this proposed IPO is Kfin Technologies. The company has said in its IPO or DRHP draft that it will use the funds raised through the IPO for various corporate purposes including repayment of loans. The company will mostly repay its debt and cover the costs of recent acquisitions. The company can spend up to Rs 1,500 crore on this.