Juniper Hotels IPO Update: Juniper Hotels Company raised Rs 810 crore from investors, know the upper price band? – Bollywood Keeda

Juniper Hotels IPO Update: Juniper Hotels has raised Rs 810 crore from anchor investors before the IPO. This IPO will open for subscription on Wednesday, February 21. The company has allotted 2.25 crore shares at Rs 360 per share, which is the upper price band.

Foreign and domestic institutions participating in the anchor round include Fidelity, Kotak Mahindra MF, Government Pension Fund, White Oak, Schroder, The Prudential Assurance Company, Invesco. ICICI Prudential Life, HDFC Life were included. Out of the anchor sale, a total of 75 lakh equity shares amounting to Rs 270 crore were allotted to 7 domestic mutual funds through 15 schemes, which is 33.33% of the anchor book size. The issue, which closes on February 23, is entirely a fresh equity sale of up to Rs 1,800 crore, with no offer for sale.

The company has fixed the price band of Rs 342-360 per share, where investors can bid for 40 shares in one lot and then for multiple shares in one lot. About 75% of the IPO is reserved for qualified institutional buyers, 15% for non-institutional investors and the remaining 10% for retail investors.

The Company proposes to utilize the net proceeds of Rs 1500 crore for the full or partial repayment, prepayment or redemption of certain outstanding borrowings (including payment of interest accrued thereon) taken by the Company and its subsidiaries and for general corporate purposes. Is. For fiscal 2023, revenue from operations grew 116% to Rs 667 crore from Rs 309 crore a year ago. Net loss reduced to Rs 1.5 crore in FY 2023, from Rs 188.03 crore in FY 2022.

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