Juniper Hotels’, the company which runs hotels under the brand ‘Hyatt’ is all set to launch its initial public offering to raise Rs 1,800 crore. The issue will open for subscription on February 21 and will close on February 23. The company has fixed the price band for the issue at Rs 342 to Rs 360 per share. Bids for the IPO can be made for 40 shares minimum and in multiples thereafter.
The IPO is entirely an fresh issue with no existing shareholders or promoters offloading their stakes via the OFS route. About 75% of the IPO is reserved for qualified institutional buyers, 15% is reserved for non-institutional investors and the rest 10% is set aside for retail investors. Bidding for anchor investors will open on February 20, Tuesday. The listing of the company is likely to happen on February 28 on both NSE and BSE.
JM Financial Limited, CLSA India Private Limited and ICICI Securities Limited are the book running lead managers of the Juniper Hotels IPO.
