Juniper Hotels IPO Receives Muted Reaction on Second Day; Issue booked 23%, retail share subscribed 87%

Juniper Hotels IPO: The initial public offering (IPO) of Juniper Hotels also received a cautious response from investors on the second day of subscription. The Juniper Hotels IPO has reserved not less than 75 percent of the shares of the public issue for qualified institutional buyers (QIB), not more than 15 percent for non-institutional investors (NII), and not more than 10 percent of the shares in the offering are reserved for retail investors Reserved.

Also read: Juniper Hotels IPO: Price Range Set at ₹342-360 per share; Check GMP, important dates, issue details and more

For the issue, offers were invited for 66,08,160 shares against the offered 2,89,47,367 shares at a price range of ₹342-360, according to the data available on the exchanges. The total issue was subscribed to 23 percent, while the portion reserved for private investors was subscribed to 87 percent. The share reserved for NIIs was 0.14 percent while the share reserved for QIBs was 0.06 percent. On the first day, the issue was only 12 percent recorded.

Juniper Hotels IPO details.

Juniper Hotels IPO details

The subscription of the issue began on Wednesday, February 21, 2024, and will close on Friday, February 23, 2024. Juniper Hotels IPO that is worthwhile ₹1,800 crore, consists entirely of new issue and there is no offer component. The lot size is 40 shares and then a multiple of 40 shares.

A day before the opening of the issue, Juniper Hotels Ltd ₹810 crore from anchor investors. Foreign and domestic institutions that participated in the anchor included Fidelity, Kotak Mahindra MF, Government Pension Fund (Norges), White Oak, Schroder, The Prudential Assurance Company (MNG), Invesco, ICICI Prudential Life Insurance, HDFC Life Insurance and Quant Mutual Find .

Juniper Hotels Ltd is a luxury hotel development and ownership company that operates luxury, upscale and upscale hotels across various locations in India namely Mumbai, Delhi, Ahmedabad, Lucknow, Raipur and Hampi. As of September 30, 2023, Juniper Hotels operated 1,836 keys across seven hotels and serviced apartments.

The Company intends to use the net proceeds for the following purposes: General corporate purposes; full or partial repayment, prepayment or repayment of certain outstanding borrowings of the Company and our recent acquisitions, Chartered Hotels Private Limited and Chartered Hampi Hotels Private Limited.

Tentatively, the allotment base for Juniper Hotels' IPO will be completed on Monday, February 26 and the company will initiate refund on Tuesday, February 27 while the shares will be credited to the demat account of the allottees on the same day become. Juniper Hotels IPO shares are expected to list on the BSE and NSE on Wednesday, February 28.

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