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juniper hotels ipo

Juniper Hotels IPO: All You Need to Know

Juniper Hotels Limited IPO Details:

Opening Date: February 21, 2024

Closing Date: February 23, 2024

Listing: BSE and NSE

Type: 100% Book Building IPO

Number of Shares: 5,26,31,578 shares

Face Value: Rs 10 per share

Price Band: Rs 342-360 per equity share

Issue Size: Approximately Rs 1800 crore to Rs 1894.74 crore (based on lower and upper price band respectively)


  • Not more than 75% of the issue is for Qualified Institutional Buyers (QIBs), including 5% for mutual funds.
  • Not less than 15% for Non-Institutional Bidders.
  • The remaining 10% is for Retail Investors.

Lead Managers: JM Financial, CLSA India Private, ICICI Securities

Recommendation: AVOID

About the Juniper Hotels Ltd

According to the Horwath Report, Juniper Hotels ranks as the third largest owner by room inventory among major private investors. Additionally, Juniper Hotels possesses the second largest geographic coverage and the largest aggregate inventory of upper-tier branded serviced apartments in Mumbai and New Delhi, with a focus on active asset management. The portfolio spans seven hotels and serviced apartments across India.

As of September 30, 2023, following the CHPL (Chartered Hotels Private Limited) Acquisition, Juniper Hotels’ holdings comprise 1,836 keys, including 245 serviced apartments across prominent metro cities, emerging business hubs, and upcoming tourist destinations in India. The network spans 1.33 million sq. ft. in land area, encompassing seven hotels and serviced apartments in six cities: Mumbai, New Delhi, Ahmedabad, Lucknow, Raipur, and Hampi.

Objects of The Issue:

  • Repayment/Prepayment/Redemption of certain outstanding borrowings.
  • General corporate purposes.


As of September 30, 2023, Juniper Hotels has emerged as a dominant force in India’s luxury hospitality sector, boasting the largest portfolio of “Hyatt” affiliated properties nationwide. With a collection of seven establishments comprising 1,836 keys, our presence commands significant industry attention. Our success is deeply rooted in a longstanding 40-year partnership between Saraf Hotels and Hyatt Hotels Corporation, a strategic alliance that has propelled us to the forefront of the market.

With ownership of 19.6% of Hyatt-affiliated hotel rooms and apartments in India, our company stands as a testament to unparalleled industry expertise. Beyond mere ownership, our strategic focus extends to identifying and capitalizing on prime hospitality opportunities, crafting high-end establishments, and ensuring unparalleled guest experiences through effective asset management.

Spanning luxury, upper upscale, and upscale segments, our properties serve as esteemed landmarks in key cities such as Mumbai, Delhi, Ahmedabad, Lucknow, Raipur, and Hampi. Notably, the Grand Hyatt Mumbai Hotel and Residences holds the distinction of being India’s largest luxury hotel, while the Hyatt Regency Lucknow and Hyatt Regency Ahmedabad rank as premier upper upscale offerings in their respective markets. Additionally, the Hyatt Raipur stands as the exclusive upper upscale destination in Raipur. (Source: Horwath Report)

Pros and Strengths:

  • Expertise in site selection and hotel development.
  • Robust asset management capabilities.
  • Diversified revenue streams and complementary offerings.
  • Positioned to benefit from industry trends such as economic growth and increasing disposable incomes.

Risks and Concerns:

  • Historical losses and substantial indebtedness limit operational freedom.
  • CHPL’s past loan repayment delays and restructuring pose financial risks.
  • Dependency on revenue from Mumbai and New Delhi properties leaves business vulnerable to regional challenges.
  • Past and potential future related-party transactions may raise governance concerns.


Juniper Hotels aims to capitalize on growth opportunities in the hospitality sector, focusing on select geographies and strategic acquisitions. It intends to expand its portfolio through greenfield projects and acquisitions in emerging business and tourist destinations.

Overall, Juniper Hotels’ IPO presents an opportunity for investors to participate in the growth potential of India’s hospitality industry, backed by a strong track record and strategic partnerships.

Recommendation: AVOID

IPO Activity Date
IPO Open Date February 21, 2024
IPO Close Date February 23, 2024
Basis of Allotment Date February 26, 2024
Refunds Initiation February 27, 2024
A credit of Shares to Demat Account February 27, 2024
IPO Listing Date February 28, 2024

Application Lots Shares Amount
Minimum 1 40 ₹ 14,400
Maximum 13 520 ₹ 187,200

When will the Juniper Hotels Ltd IPO open?

Juniper Hotels IPO will open for subscription on Wednesday, 21st February 2024, and closes on Friday, 23rd February 2024.

What is the price band of Juniper Hotels Ltd IPO?

The price band for Juniper Hotels Ltd IPO is Rs. 342-360/share.

What is the lot size for the Juniper Hotels Ltd IPO?

Retail investors can subscribe to the IPO minimum lot size is 40 shares, up to a maximum of 13 lots i.e. Rs. 1,87,200/-.

What is the issue size of Juniper Hotels Ltd IPO?

The total issue size is ~ Rs. 1,800Cr.

When will the basis of allotment be out?

Allotment will be finalized on February 26th and refunds will be initiated by February 27th. Shares allotment will be credited in Demat accounts by February 27th.

What is the listing date of Juniper Hotels Ltd’s IPO?

The tentative listing date of the Juniper Hotels IPO is February 28th, 2024.

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*Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.

*Disclaimer: The securities quoted are for illustration only and are not recommendatory

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