Juniper Hotels Limited

Initial Public Offering of Juniper Hotels Limited to open on Wednesday, February 21, 2024, price band set at ₹342 to ₹360 per equity share of face value of ₹10/- each (“Equity Share(s)”)

• Price Band of ₹ 342/ to ₹ 360/- per Equity Share
• Bid/Issue Opening Date – Wednesday, February 21, 2024 and Bid/Issue Closing Date – Friday, February 23, 2024.
• Minimum Bid Lot is 40 Equity Shares and in multiples of 40 Equity Shares thereafter.
• The Floor Price is 34.2 times the face value of the Equity Share and the Cap Price is 36.0 times the face value of the Equity Share.

Mumbai, February 15, 2024: Juniper Hotels Limited (the "Company”) 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. (Source: Horwath Report), has fixed the price band of ₹342 to ₹360 per Equity Share for its initial public offer (“IPO” or “Issue”). 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 ₹ 18,000.00 million with no offer for sale component.

Of the total net proceeds to be raised through the Issue, the Company proposes to utilise up to ₹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.

(Mr. Arun Kumar Saraf, CMD and Varun Saraf, CEO, Juniper Hotels Limited at the announcement of their Initial Public Offering (IPO)

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 (source: Horwath Report). It has the largest aggregate inventory of upper tier branded serviced apartments in Mumbai and New Delhi among hotels owned by major private investors (source: Horwath Report). 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 (source: Horwath Report).

For the Fiscal Year 2023, the revenue from operations of the Company increased by 116.03% to ₹ 6,668.54 million against ₹ 3,086.89 million in Fiscal Year 2022. The restated loss for the year narrowed to ₹ 14.97 million in Fiscal Year 2023 from ₹ 1,880.31 million in Fiscal Year 2022.

For the six months ended September 30, 2023 revenue from operations of the Company stood at ₹ 3,361.12 million.

JM Financial Limited, CLSA India Private Limited, and ICICI Securities Limited are the book-running lead managers to the Issue and KFin Technologies Limited is the registrar to the Issue. The Equity Shares are proposed to be listed on the BSE and NSE.

RHP Link : SEBI | Juniper Hotels Limited - RHP