Juniper Hotels Limited (MAINBOARD)
Feb 21, 2024 - Feb 23, 2024
| Price | ₹342 - ₹360 |
| Premium | ₹0 |
|---|---|
| Lot size | 40 |
| Allotment | Feb 26, 2024 |
| Listing | Feb 28, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 40 | 14400 | 125000 |
| sHNI | 14 | 560 | 201600 | 4464 |
| bHNI | 70 | 2800 | 1008000 | 8929 |
Last Updated as on 23-Feb-2024 17:54:00
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 15000000 | 46711200 | 3.11 |
| HNIs | 7500000 | 6672120 | 0.89 |
| HNIs (10+L) | 5000000 | 5415720 | 1.08 |
| HNIs (2-10L) | 2500000 | 1256400 | 0.5 |
| Retail | 5000000 | 6537680 | 1.31 |
| Total | 27500000 | 59921000 | 2.18 |
| Total Application : 121,009 | |||
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹1.5 | @8% ₹1.72 | @9% ₹1.93 | @10% ₹2.15 | @11% ₹2.36 | @12% ₹2.58 |
| Big HNI (10+L) Cost per lot (7 Days) |
|---|
| Assuming fix interest of ₹2000 per application Big HNI (10+L) costing for every 1 lot allotment is ₹432 |
TOP 10 ANCHOR INVESTOR
| Name of the Anchor Investor | No. of Equity Shares allocated | % of Anchor Investor Portion | Amount Allocated (Crores) |
|---|---|---|---|
| KOTAK MAHINDRA TRUSTEE CO LTD A/C KOTAK MULTICAP FUND | 27,77,760 | 12.35% | 99.99 |
| GOVERNMENT PENSION FUND GLOBAL | 15,27,760 | 6.79% | 54.99 |
| FIDELITY FUNDS - INDIA FOCUS FUND | 11,59,840 | 5.15% | 41.75 |
| ASHOKA WHITEOAK ICAV - ASHOKA WHITEOAK INDIA OPPORTUNITIES FUND | 9,16,640 | 4.07% | 32.99 |
| ICICI PRUDENTIAL LIFE INSURANCE COMPANY LIMITED | 9,02,750 | 4.01% | 32.49 |
| HDFC Life Insurance company Limited | 9,02,750 | 4.01% | 32.49 |
| THE PRUDENTIAL ASSURANCE COMPANY LIMITED | 9,02,750 | 4.01% | 32.49 |
| GOLDMAN SACHS (SINGAPORE) PTE. - ODI SOCIETE GENERALE- ODI | 8,88,880 | 3.95% | 31.99 |
| CAMRIGNAC PORTFOLIO | 8,33,360 | 3.70% | 30.00 |
| HSBC GLOBAL INVESTMENT FUNDS - ASIA EX JAPAN EQUITY SMALLER COMPANIES | 7,77,800 | 3.46% | 28.00 |
Juniper Hotels Limited, founded in September 1985, is a prominent luxury hotel development and ownership company. It operates seven hotels and serviced apartments, boasting a total of 1,836 rooms across various cities including Mumbai, Delhi, Ahmedabad, Lucknow, Raipur, and Hampi. Notable properties include Grand Hyatt Mumbai Hotel and Residences, recognized as India's largest luxury hotel, and Hyatt Regency Lucknow and Hyatt Regency Ahmedabad, which are the largest upper upscale hotels in their respective markets. Additionally, Hyatt Raipur stands as the sole upper upscale hotel in Raipur.
Juniper Hotels Limited is co-owned by Saraf Hotels Ltd and Two Seas Holdings Ltd, an affiliate of Hyatt Hotels Corporation, fostering a strategic partnership between a hotel developer and an international hospitality company.
The company's exceptional service and facilities have earned it numerous accolades, such as the "Best Luxury Business Hotel in Delhi" at the Today's Traveller Awards in 2022 for Andaz Delhi, and the "Best 5 Star Hotel in Gujarat" at the Gujarat Tourism Awards in 2022 for Hyatt Regency Ahmedabad.
Regarding employment, Juniper Hotels had a total of 1,631 permanent employees as of September 30, 2023. The CHPL Group, which includes Saraf Hotels Ltd, had an additional 362 permanent employees. Collectively, they employed a total of 1,993 individuals.
Strength Factors
Strategic Site Selection: Demonstrates a strong capability in identifying prime locations for hotel development, optimizing potential profitability through market insight.
Unique Partnership Model: Noteworthy collaboration between asset owners and operator brands, supported by a reputable parent company, enhancing competitiveness and operational efficiency.
Effective Asset Management: Proven ability to manage assets robustly, focusing on enhancing operational efficiency and profitability, ensuring sustainable growth and value creation.
Diversified Revenue Streams: Implementation of strategies to diversify revenue sources and offer complementary services, resulting in increased returns and adaptability to market changes.
Industry Trend Awareness: Positioned to capitalize on emerging trends, displaying agility and innovation to maintain leadership in the dynamic hospitality sector.
Experienced Leadership: Presence of an experienced and qualified board and management team, ensuring effective governance and strategic decision-making, driving long-term success and operational excellence.
Risk Factors
Historical Losses: The Company and its subsidiaries have incurred losses in the past, indicating potential challenges in achieving profitability and sustaining financial performance.
Substantial Indebtedness: With significant indebtedness requiring substantial cash flows for servicing, the company's operational freedom may be limited, potentially impacting investment opportunities and growth initiatives.
Loan Repayment Delays: Delays in loan repayment by the recently acquired subsidiary, CHPL, and subsequent debt restructuring suggest potential risks to the company's financial stability and liquidity position.
Impact on Business: Any inability of CHPL to meet the terms of debt restructuring could have adverse effects on the company's overall business operations, financial condition, cash flows, and results of operations.
Negative Operating Cash Flows: Historical instances of negative operating cash flows raise concerns about the company's ability to manage cash effectively and meet its financial obligations, potentially leading to liquidity challenges in the future.
Juniper Hotels IPO Details
| Issue Size | [50000000] shares (aggregating up to ₹1,800.00 Cr) |
| Fresh Issue | [50000000] shares (aggregating up to ₹1,800.00 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 172,502,384 |
| Share holding post issue | 222502384 |
Juniper Hotels IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB ANCHOR Shares Offered | Not less than 75% of the Net Issue |
| Retail Shares Offered | Not more than 10% of the Net Issue |
| NII (HNI) Shares Offered | Not more than 15% of the Net Issue |
Juniper Hotels IPO Lead Manager(s)
- Jm Financial Limited
- Clsa India Private Limited
- ICICI Securities Limited
Key Performance Indicator
| KPI | 2023 | 2022 | 2021 |
|---|---|---|---|
| RONW | -0.42% | -52.76% | -36.68% |
| EPS (Basic & Diluted) | -0.10 | -13.08 | -13.88 |
Company Financials
Juniper Hotels Limited Financial Information (Restated Consolidated)
Juniper Hotels Limited's revenue increased by 108.66% and profit after tax (PAT) rose by 99.2% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period | 30 Sep 2023 | Mar 2023 | Mar 2022 | Mar 2021 |
| Assets | 3,837.83 | 3,020.27 | 3,069.86 | 3,055.54 |
| Revenue | 337.43 | 717.29 | 343.76 | 192.85 |
| Profit | -26.50 | -1.50 | -188.03 | -199.49 |
| Net Worth | 859.67 | 354.51 | 356.37 | 543.90 |
| Reserves | 687.17 | 210.81 | 212.67 | 400.20 |
| Borrowing | 2,252.75 | 2,045.61 | 2,121.81 | 1,830.48 |
| Amount in ₹ Crore | ||||
Juniper Hotels IPO Lead Manager(s)
- Jm Financial Limited
- Clsa India Private Limited
- ICICI Securities Limited
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: jhl.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/