Image Source : HYATT Hyatt Hotel
Juniper Hotels, a luxurious resort developer working properties underneath the Hyatt chain in India, has introduced its preliminary public providing (IPO) with a worth band set at Rs 342-360 per share of face worth Rs 10 every. The IPO, valued at Rs 1,800 crore, will probably be open for subscription from February 21 to 23.
This IPO consists solely of a contemporary situation, with none offer-for-sale element, with roughly 10 per cent of the problem reserved for retail traders. Retail traders can bid for no less than 40 shares and in multiples of 40 thereafter, requiring a minimal funding of Rs 13,680. At the higher finish of the value band, the bidding quantity will increase to Rs 14,400.
Juniper Hotels, as of September 30, 2023, is the biggest proprietor of ‘Hyatt’ affiliated inns in India, working 1,836 keys throughout varied luxurious, higher upscale, and upscale inns in Mumbai, Delhi, Ahmedabad, Lucknow, Raipur, and Hampi. The firm advantages from a partnership between Saraf Hotels (and associates) and Hyatt Hotels Corporation.
The firm’s portfolio contains seven inns and serviced flats. The proceeds from the IPO, primarily aimed toward repaying a debt of Rs 1,500 crore, may even be utilised for common company functions. Despite a web lack of Rs 1.5 crore for the fiscal yr ended March FY23, down considerably from Rs 188 crore within the earlier yr, the income from operations greater than doubled to Rs 666.85 crore from Rs 308.7 crore throughout the identical interval.
Source: www.indiatvnews.com
