Juniper Hotels Ltd. is a luxury hotel development and ownership company, and are the largest owner, by number of keys of “Hyatt” affiliated hotels in India as of September 30, 2023., has fixed the price band of Rs 342 to Rs 360 per Equity Share for its initial public offer. The Issue of the Company will open on Wednesday, February 21, 2024, for subscription and close on Friday, February 23, 2024. Investors can bid for a minimum of 40 Equity Shares and in multiples of 40 Equity Shares thereafter. The Issue is entirely of a fresh issue of up to Rs 18,000.00 million with no offer for sale component. The Equity Shares are proposed to be listed on the BSE and NSE.
Of the total net proceeds to be raised through the Issue, the Company proposes to utilise up to Rs 15,000.00 million towards repayment/ prepayment/ redemption, in full or in part, of certain outstanding borrowings availed by the Company and Subsidiaries, namely Chartered Hotels Private Limited and Chartered Hampi Hotels Private Limited along with general corporate purposes.
The Company is promoted by Saraf Hotels Limited and its affiliate, Juniper Investments Limited and Two Seas Holdings Limited an indirect subsidiary of a global hospitality company, Hyatt Hotels Corporation. The Company owns and manages a portfolio consisting of seven hotels and serviced apartments and operates a total 1,836 keys of “Hyatt” affiliated hotel keys in India as of September 30, 2023.
Its hotels and serviced apartments are classified under three distinct segments luxury – 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. It has the largest aggregate inventory of upper tier branded serviced apartments in Mumbai and New Delhi among hotels owned by major private investors. As of September 30, 2023, the Grand Hyatt Mumbai Hotel and Residences had 665 keys, which represents approximately 12% of the total supply of 5.4k luxury room inventory in Mumbai; Andaz Delhi had 401 keys, which represents approximately 12% of the total supply of 3.3k luxury room inventory in New Delhi; the Hyatt Regency Ahmedabad had 211 keys, which represents approximately 26% of the total supply of 0.8k upper upscale inventory in Ahmedabad; and the Hyatt Regency Lucknow had 206 keys, which represents approximately 52% of the total supply of 0.4k upper upscale inventory in Lucknow.
