Discover the shocking truth behind Juniper Hotels IPO that’s sending shockwaves through the market! Unveil hidden insights, surprising twists, and exclusive insider information that every investor needs to know. Don’t miss out on this game-changing opportunity – read now!
Juniper Hotels IPO Closure and Subscription
The bidding phase for the initial public offering (IPO) of Juniper Hotels Limited concluded on Friday. Over the course of three days, from Wednesday to Friday, the IPO garnered a subscription rate of 2.08 times. Despite this, shares of the luxury hotel company are trading at par in the grey market, indicating a tepid response from primary market investors.
As of now, Juniper Hotels shares are trading neither at a premium nor at a discount in the grey market. Market observers attribute this to the fact that the shares are trading at par with their price band of ₹342 to ₹360 per equity share. The subdued sentiments in the grey market can be linked to the lackluster subscription status of the Juniper Hotels IPO post-bidding. Despite being a fresh issue worth ₹1800 crore, the public offering failed to capture significant attention in the crowded market conditions.
Must Read
Subscription Statistics
During the three-day bidding period from 21st to 23rd February 2024, the Juniper Hotels IPO saw a subscription rate of 2.08 times, with the retail portion subscribing 1.28 times. The Non-Institutional Investor (NII) portion was subscribed 0.85 times, while the Qualified Institutional Buyer (QIB) portion reached a subscription rate of 2.96 times. The total bids amounted to 5,99,13,880 shares against the offered 2,89,47,367 equity shares, within the price band of ₹342 to ₹360 per equity share, as reported by stock exchanges.
The book-running lead managers for the IPO are JM Financial Limited, CLSA India Private Limited, and ICICI Securities Limited. With the T+3 listing rule enforced since 1st December 2023, investors in the Juniper Hotels IPO can anticipate the finalization of share allotment on 26th February 2024, which falls on the upcoming Monday. Those who applied for the book build issue need not scramble for information after the announcement; they can conveniently check the Juniper Hotels IPO allotment status online through the BSE website or the website of the IPO registrar, KFin Technologies Limited.
Applicants can log in directly to the BSE link bseindia.com/investors/appli_check.aspx or the KFin Tech link kosmic.kfintech.com/ipostatus to check the Juniper Hotels IPO allotment status online, offering ease and accessibility.
Bhaarat Bulletin’s Shikha Rai, Bimal Dev, and BSE/NSE have contributed to the above report
Also Read