Juniper Hotels added 2.75% to Rs 283.55 after the company executed a share purchase agreement with Jenipro Hotels and its selling shareholders to develop a 5 star hotel/resort in Kaziranga, Assam.
Jenipro Hotels main business activity is to purchase, construct, acquire or otherwise deal in hotels and related services and operates within Indian market.The company will develop a 5 star hotel/resort of International Standard on Kaziranga Land which has been taken on lease by Jenipro from Assam Tourism Development Corporation to develop a tourism infrastructure under a public-private partnership (PP) model.
The company will acquire a 100% stake in Jenipro Hotels for a total consideration of Rs 2.74 crore, at Rs 2,747.43 per share.
Post acquisition, Jenipro Hotels Private will become wholly owned subsidiary of the company. The transaction is a related party transaction, as Juniper Investments, the promoter of the company, is also existing shareholder of Jenipro.
Juniper Hotels operates a luxury hotel chain under the Hyatt brand. The companys hotels and serviced apartments are classified under three distinct segments: the Grand Hyatt Mumbai Hotel and Residences and Andaz Delhi; upper upscale the Hyatt Delhi Residences, Hyatt Regency Ahmedabad, Hyatt Regency Lucknow and Hyatt Raipur; and upscale Hyatt Place Hampi.
The companys consolidated net profit surged 32.49 crore in Q3 FY25 as compared with Rs 3.54 crore in Q3 FY24. Net sales increased 6.9% YoY to Rs 252.50 crore during the quarter ended 31st December 2024.
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