Juniper Hotels, an affiliate of global hospitality entity, Hyatt Hotels Corporation, received Securities and Exchange Board of India’s (SEBI) approval to raise 1,800 crore through an initial public offering (IPO). The company, which is co-owned by Saraf Hotels Limited and Two Seas Holdings Limited, had filed preliminary IPO papers with SEBI in September last year.

uniper Hotels IPO: The company may consider a further issue of equity shares on a private placement for cash consideration.

Here’s all you need to know about Juniper Hotels IPO:

Juniper Hotels IPO: What does it comprise of?

The IPO will entirely be a fresh issue of equity shares with no Offer for Sale (OFS) component.

Discover the thrill of cricket like never before, exclusively on HT. Explore now!

Juniper Hotels IPO: What are company’s plans for using proceeds?

The company said that majority of the funds from the IPO will be used towards repayment, prepayment, or redemption, in full or in part, of certain outstanding borrowings availed by the company and its subsidiaries.

Juniper Hotels IPO: Will there be issue of equity shares?

The company may consider a further issue of equity shares on a private placement for cash consideration aggregating up to 350 crore. In this case, the fresh issue size will be reduced.

Juniper Hotels IPO: What you need to know about the company

Juniper Hotels- a luxury hotel development and ownership enterprise- owns 20% of the total 1,836 Hyatt affiliated hotel keys in India as of June 202. The company has a diverse portfolio consisting of seven hotels and serviced apartments across various categories. The properties are located in six strategic cities in Mumbai, Delhi, Ahmedabad, Lucknow, Raipur, and Hampi.

Juniper Hotels’ revenue from operations for the fiscal year 2023 increased by 116% to 666.85 crore against 308.69 crore a year ago.

Juniper Hotels IPO: Who are the book-running lead managers?

JM Financial Limited, CLSA India Private Limited, and ICICI Securities Limited are the book-running lead managers of the issue.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it’s all here, just a click away!- Login Now!
Stay informed on Business Newsalong withGold Rates Today, India News and other related updates on Hindustan Times Website and APPs



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *