Shares of Juniper Hotels Ltd, which operates hotels under the Hyatt brand, had a steady start on Wednesday. The stock listed at Rs 361.20 on the BSE, a minimal increase of 0.33% from its issue price of Rs 360. However, as the day progressed, the stock gained momentum and surged more than 10%. It reached its upper circuit limit at Rs 397.30.
On the NSE, the stock made its debut at Rs 365, showing a gain of 1.38%.Subsequently, it continued its upward trajectory, soaring by 10.47% to reach Rs 397.70.
The initial public offering (IPO) of Juniper Hotels was oversubscribed 2.08 times by the end of the offer period on Friday. The IPO consisted of fresh equity shares worth Rs 1,800 crore, with a price band of Rs 342-360 per share.
Out of the total funds raised, Rs 1,500 crore will be used to repay the debt of Juniper Hotels and its subsidiaries, Chartered Hotels Pvt Ltd and Chartered Hampi Hotels Pvt Ltd. The remaining amount will be utilized for general corporate purposes.
As of September 2023, Juniper Hotels had a diverse portfolio of seven hotels and serviced apartments, offering a total of 1,836 keys. The properties belong to the luxury, upper upscale, and upscale categories of hotels in India.
Currently, Saraf Hotels owns a 44.68% stake in Juniper Hotels, while Two Seas Holdings holds a 50% stake. The remaining 5.32% shareholding is with Juniper Investments.
On the NSE, the stock made its debut at Rs 365, showing a gain of 1.38%.Subsequently, it continued its upward trajectory, soaring by 10.47% to reach Rs 397.70.
The initial public offering (IPO) of Juniper Hotels was oversubscribed 2.08 times by the end of the offer period on Friday. The IPO consisted of fresh equity shares worth Rs 1,800 crore, with a price band of Rs 342-360 per share.
Out of the total funds raised, Rs 1,500 crore will be used to repay the debt of Juniper Hotels and its subsidiaries, Chartered Hotels Pvt Ltd and Chartered Hampi Hotels Pvt Ltd. The remaining amount will be utilized for general corporate purposes.
As of September 2023, Juniper Hotels had a diverse portfolio of seven hotels and serviced apartments, offering a total of 1,836 keys. The properties belong to the luxury, upper upscale, and upscale categories of hotels in India.
Currently, Saraf Hotels owns a 44.68% stake in Juniper Hotels, while Two Seas Holdings holds a 50% stake. The remaining 5.32% shareholding is with Juniper Investments.