Discover the jaw-dropping details behind Juniper Hotels IPO as Anchor investors show interest worth 810 Crores in pre-IPO fundraising! Find out which marquee investors are backing this hospitality giant and why the buzz around its IPO is reaching a fever pitch – read more now!
Juniper Hotels IPO- 810 Crore from Anchor Investors
Juniper Hotels, owned by Saraf Hotels and its affiliate Juniper Investments, has teamed up with Two Seas Holdings, an indirect subsidiary of Hyatt Hotels Corporation, to raise funds ahead of its Initial Public Offering (IPO). The collaboration has successfully garnered Rs 810 crores from various anchor investors. Here’s a breakdown of the recent developments and what it means for the upcoming IPO. However, the public issue is scheduled to open for subscription on February 21, with the closing date set for February 23.
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Anchor Investors
The fundraising effort saw participation from several marquee investors, including Fidelity Funds, Government Pension Fund Global, Camrignac Portfolio, and others. Notable contributors also include Kotak Mahindra Trustee, Tata Mutual Fund, and Ashoka Whiteoak ICAV, among others. Together, these investors have expressed confidence in the Hyatt hotel chain’s prospects.
Juniper Hotels has finalized the allocation of 2.25 crore equity shares to anchor investors, priced at Rs 360 per equity share. Notably, 75 lakh shares were allocated to seven mutual funds across 15 schemes, and aims to raise Rs 1,800 crore through its IPO, which consists solely of a fresh issue with no offer-for-sale component. The price band for the issue has been set at Rs 342-360 per share.
Based in Mumbai, Juniper Hotels operates 1,836 keys across various hotel categories, including luxury, upper upscale, and upscale. Its properties are located in key cities such as Mumbai, Delhi, Ahmedabad, and Lucknow, among others and the successful fundraising effort ahead of Juniper Hotels’ IPO reflects investor confidence in the company’s growth prospects. With a robust allocation from anchor investors and a clear plan for fund utilization, the company is poised for further expansion and success in the hospitality industry.
Bhaarat Bulletin’s Shikha Rai and Moneycontrol have contributed to the above report
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