Juniper Hotels had a lukewarm market entry, with its shares listing marginally above the IPO price. On February 28, the shares debuted at Rs 365 on the NSE and Rs 361.2 on the BSE, a modest 1.38% higher than the issue price of Rs 360.
Juniper Hotels, renowned for its extensive partnership with Hyatt in India, is a leading hospitality company with a strong emphasis on luxury and guest satisfaction. With over 40 years in the industry, they have a notable presence in major Indian cities including Mumbai, Delhi, and Ahmedabad, featuring flagship hotels like Grand Hyatt Mumbai and Hyatt Regency Lucknow. Known for strategically selecting prime locations for their upscale hotels, they rapidly move from acquisition to operation, underlining their expansion goals within the Saraf Group’s hospitality sector.
Juniper Hotels aims to use its IPO to repay debts and acquire CHPL and CHHPL, allocating INR 1500 crores for debt reduction and acquisitions, and the remaining funds for corporate purposes, including growth, marketing, and working capital.