Juniper Hotels, which runs hotels under the 'Hyatt' brand, has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise as much as Rs 1800 crore through an initial public offering (IPO).
The company proposes to use the net proceeds of Rs 1,500 crore towards payment of debt. Besides, a portion of proceeds will be used for general corporate purposes. JM Financial, CLSA India and ICICI Securities Limited are the book-running lead managers to the issue. The equity shares of the company will be listed on the BSE and NSE.
Juniper Hotels is co-owned by Saraf Hotels and Two Seas Holdings, an affiliate of global hospitality entity Hyatt Hotels Corporation. The hospitality firm has a portfolio of seven hotels and serviced apartments and operates 1,836 keys across the luxury, upper upscale and upscale category of hotels across India.
