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Juniper Hotels Limited raises Rs. 810 crore from Anchor Investors

Mumbai, February 20, 2024: Juniper Hotels Limited (the “Company”) is a luxury hotel development and ownership company, and are the largest owner, by number of keys of “Hyatt” affiliated hotels in India as of September 30, 2023(Source: Horwath Report), has garnered Rs. 810 crores from anchor investors ahead of its initial public offering that opens for public subscription on Wednesday, February 21, 2024. The company informed the bourses that it allocated 2,25,00,000equity shares at Rs. 360 per share on Tuesday, February 20,2024, to anchor investors.

Foreign and Domestic Institutions who participated in the anchor were Fidelity, Kotak Mahindra MF, Government Pension Fund (Norges), White Oak, Schroder, The Prudential Assurance Company(MNG), Invesco, ICICI Prudential Life Insurance, HDFC Life Insurance and Quant Mutual Fund

Out of the total allocation of 2,25,00,000 equity shares to the anchor investors, 75,00,000 equity shares were allocated to 7domestic mutual funds through a total of 15 schemesamounting to Rs. 270 crore i.e. 33.33% of the Total Anchor Book Size.

JM Financial Limited, CLSA India Private Limited, and ICICI Securities Limited are the book-running lead managers to the Issue.

IPO Details

The issue is entirely a fresh issue of Equity Shares aggregating to 1,800 crore with no offer for sale component.

The Company is proposing to open its initial public offering of Equity Shares (the “Offer”) on Wednesday, February 21, 2024, and closes on Friday, February 23, 2024. The price band for the Offer has been determined at Rs 342 – Rs 360per equity share.

The IPO will fetch Rs 1800 crore at the upper end of the price band.

Investors can bid for a minimum of 40 equity shares and in multiples of 40 equity shares thereafter.

The Issue is being made through the Book Building Process, wherein not less than 75% of the Issue shall be available for allocation to Qualified Institutional Buyers, not more than 15% of the Issue shall be available for allocation to Non-Institutional Investors and not more than 10% of the Issue shall be available for allocation to Retail Individual Investors.

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