Juniper Hotels IPO subscribed 2.07 times on concluding day of the issue

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The initial public offering (IPO) of Juniper Hotels was subscribed 2.07 times on Friday, the concluding day of the issue. The institutional investor portion was subscribed 2.9 times, the high net worth individual portion by 85 per cent, and the retail investor portion by 1.2 times. Market players said the lukewarm response was on account of the poor post-listing performance of stocks listed this month.

The company's Rs 1,800-crore IPO was entirely a fresh issue and was priced between Rs 342 to Rs 360 per share. At the top end of the price band, Juniper is valued at around Rs 8,000 crore.

The company plans to utilise the net proceeds of the issue to repay its debts. Juniper is a luxury hotel development and ownership company and operates the Hyatt-branded hotels.

The company has a portfolio of 162 hotels and serviced apartments and operates 1,836 keys as of September 30, 2023.

The company's hotels and serviced apartments are present across the luxury and upscale categories of hotels in Mumbai, Delhi, Ahmedabad, Lucknow, Raipur, and Hampi.

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