Shares of Juniper Hotels was locked in upper circuit of 10% at Rs 397.30 at 10:16 IST on the BSE, representing a premium of 10.36% as compared with the issue price of Rs 360.
The scrip was listed at Rs 361.20, exhibiting a premium of 0.33% to the issue price.So far, the stock has hit a high of 397.30 and a low of 361.20. On the BSE, over 12.75 lakh shares of the company were traded in the counter so far.
The initial public offer (IPO) of Juniper Hotels was subscribed 2.08 times. The issue opened for bidding on 21 February 2024 and it closed on 23 February 2024. The price band of the IPO was fixed at Rs 342 to 360 per share.
The offer comprised only of fresh issue of equity shares aggregating up to Rs 1,800 crore.
The company proposed to utilize Rs 1,500 crore towards repayment, prepayment, or redemption, in full or in part, of certain outstanding borrowings (including payment of the interest accrued) availed by the company and its subsidiaries, and the balance towards general corporate purposes.
Juniper Hotels operates a luxury hotel chain under the Hyatt brand. The companys portfolio includes seven luxury hotels and serviced properties and operates a total of 1,836 keys as of 30 September 2023.
The companys hotels and serviced apartments are classified under three distinct segments: the Grand Hyatt Mumbai Hotel and Residences and Andaz Delhi; upper upscale the Hyatt Delhi Residences, Hyatt Regency Ahmedabad, Hyatt Regency Lucknow and Hyatt Raipur; and upscale Hyatt Place Hampi.
The firm reported a net loss of Rs 26.50 crore and sales of Rs 336.11 crore for the six months ended on 30 September 2023.
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