Juniper Hotels stock makes debut, opens slightly above IPO price

Juniper Hotels witnessed a modest debut on the stock exchanges, with its shares listing at a slight premium to the IPO price on February 28. The stock opened at Rs 365 on the National Stock Exchange (NSE) and at Rs 361.2 on the Bombay Stock Exchange (BSE), representing a marginal increase from the issue price of Rs 360.

Leading up to its market debut, Juniper Hotels experienced a fluctuation in its grey market premium, which was entirely eroded prior to listing. However, the stock had commanded a 1 percent premium when the Initial Public Offering (IPO) commenced on February 21. The grey market, an informal platform where shares trade before allotment and until listing day, serves as a barometer for investors gauging potential listing prices.

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The Rs 1,800-crore public offering had garnered a subscription of 2.08 times during the subscription period from February 21 to February 23. Qualified institutional investors exhibited robust interest, subscribing to 2.96 times the reserved portion, while retail investors participated at 1.28 times the allotted quota. The non-institutional investor segment witnessed a subscription of 0.85 times the set allocation.

Juniper Hotels’ subdued market debut reflects the cautious sentiment prevailing in the market, with investors closely monitoring the performance of newly-listed entities amid evolving market dynamics. As the company navigates its initial trading days, market participants will keenly observe its trajectory and evaluate its performance in the context of broader market trends.