Juniper Hotels is into Consumer Hotels and is looking raise funds through Fresh Issue
Juniper Hotels IPO: Juniper Hotels Limited has filed Draft Red Herring Prospectus (DRHP) for proposed initial public offer (IPO) and raise funds through an offer of equity share capital having face value of Rs. 10 per share via initial public offering.
Initial Public Offer comprising of a Fresh Issue of Equity Shares aggregating up to Rs 1800 Cr.. JM Financial, CLSA India, ICICI Securities have been appointed as lead merchant bankers for the proposed IPO. It has appointed KFin Technologies Ltd. as Registrar and Share transfer Agent. Company is yet to finalize issue size and some other important details relating to the IPO.
Details about upcoming IPO:
As per the details available in DRHP, fundraising will consist of an Fresh Issue aggregating Rs. 1,800 Crs andby Being a Fresh Issue hence, no selling shareholders...
Objects of the issue:
1) Repayment / prepayment / redemption of outstanding borrowings availed by Company and Subsidiaries, namely CHPL and CHHPL amounting to Rs. 1500 cr., and 2) General corporate purposes.
Promoters of Juniper Hotels are Arun Kumar Saraf, Saraf Hotels, Two Seas Holdings and Juniper Investments and holds 100% stake in the company.
About Company:
Juniper Hotels is into luxury hotel development and ownership company. It is the largest owner, by number of keys of “Hyatt” affiliated hotels in India. Company has a portfolio of 7 hotels and serviced apartments and operate 1,836 keys across the luxury, upper upscale and upscale category of hotels across India. Company enjoys partnership/association with Saraf Hotels (a well-established hotel developer in India), and affiliates of a globally recognized premier hospitality brand, Hyatt Hotels Corporation.
About Industry:
In Fiscal 2022, India was the fifth largest global economy with GDP at current prices of USD3.18 trillion and itspopulation is estimated to reach 1.66 billion by 2047, with the rich and middle class population being approximately 28% and 61%, respectively. Such growth will create major demand drivers for upper tier hotels in India. The GDP contribution of the hotel sector is estimated at USD40 billion in 2022, with projected increase to USD1 trillion by 2047. The demand for hotel rooms and services will benefit from and support economic development initiatives and investments across India. (source: Horwath Report)
Source: SEBI, BSE, NSE, DRHP, Juniper Hotels, Industry Data
Disclaimer: Above article only publishes details about the IPO for educational purpose and doesn't solicit or invite any interest to invest. Please visit respective sources to verify and know more details about the IPO. We advise investors to take opinion from certified/SEBI registered experts before taking any investment decisions.
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