Juniper Hotels Ltd, operating under the globally recognized brand ‘Hyatt’, has announced its Initial Public Offering (IPO) aiming to raise ₹1,800 crore. The IPO is scheduled to open for subscription on February 21, 2024, and close on February 23, 2024, with the allotment expected to be finalized by February 26, 2024. The IPO consists entirely of a fresh issue of 5 crore shares, without any Offer for Sale (OFS) component. The price band for the IPO is set at ₹342 to ₹360 per share, and it will be listed on both the BSE and NSE with a tentative listing date of February 28, 2024.
Juniper Hotels aims to use the net proceeds from the IPO for repayment/prepayment/redemption, in full or part, of certain outstanding borrowings availed by the company and its recent acquisitions, namely CHPL and CHHPL, as well as for general corporate purposes.
Juniper Hotels Ltd is a prominent name in luxury hotel development and ownership, holding a significant stake in the ‘Hyatt’ affiliated hotels in India. As of June 30, 2023, it owned 20% of the total 1,836 ‘Hyatt’ affiliated hotel keys in the country. The company’s portfolio includes seven hotels and serviced apartments across key Indian cities like Mumbai, Delhi, Ahmedabad, Lucknow, Raipur, and Hampi, with Grand Hyatt Mumbai Hotel and Residences being the largest hotel in India.
For the fiscal year 2023, Juniper Hotels reported a remarkable 116.03% increase in revenue from operations, reaching ₹666.85 crore, compared to ₹308.69 crore the previous year. The net loss was significantly reduced to ₹1.5 crore in fiscal 2023, from ₹188.03 crore in fiscal 2022, indicating a strong recovery and financial performance improvement.
This IPO represents an opportunity for investors to engage with a leading player in India’s luxury hospitality sector, backed by the prestigious ‘Hyatt’ brand and a strong financial performance trajectory.
