February 28, 2024
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Juniper Hotels IPO GMP, Details, Guidance, Subscription Status, allotment @ Chanakyanipothi.com
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Juniper Hotels Post Listing Review:
On 28th February, the scrip is listed at Rs.365, compared to the Issue-price of Rs.360, at a premium of 1.39 %. The listing has been in line with the expectation of the grey market players.
What are the promoters of Juniper Hotels IPO?
ARUN KUMAR SARAF, SARAF HOTELS LIMITED, TWO SEAS HOLDINGS LIMITED AND
JUNIPER INVESTMENTS LIMITED are the promoters of Juniper Hotels IPO.
What are the Objects of Juniper Hotels IPO?
The Issue comprises a Fresh Issue of shares by the company.
The net proceeds of the Issue are proposed to be utilised in the following manner:
1.Repayment/ prepayment/ redemption, in full or in part, of certain outstanding borrowings availed by the Company and Subsidiaries, namely CHPL and CHHPL; and
2.General corporate purposes.
What is the business of Juniper Hotels?
Juniper Hotels is a luxury hotel development and ownership company, and are the largest owner, by number of Keys of “Hyatt” affiliated hotels in India as of June 30, 2023. It has a portfolio of seven
hotels and serviced apartments and operate a total of 1,836 keys.
It is the only hotel development company in India with which Hyatt has a strategic investment. It owns 20% of Hyatt group affiliated hotel rooms in India as on June 30, 2023.
HHC is a global hospitality company with widely recognized, industry-leading brands and a tradition of innovation developed over 65 years, with a hotel portfolio consisting of 1,297 hotels and 311,171
rooms, across full service hotels and resorts, all-inclusive resorts, select service hotels, lifestyle hotels and other properties, as of June 30, 2023. It benefits from the experience of its key shareholders and are able to leverage their long-standing brand heritage, in-depth market understanding, operational experience, and the World of Hyatt loyalty program with over 40 million members as of June 30, 2023.
It currently owns a portfolio of seven hotels and serviced apartments which are located across six strategic cities in India, comprising of established metro cities (Mumbai and Delhi), emerging business destinations (Ahmedabad, Lucknow and Raipur) and upcoming tourist destinations (Hampi), providing guest and geographic diversification.
Its hotels and serviced apartments are classified under three distinct segments: (a) luxury – the Grand Hyatt Mumbai Hotel and Residences and Andaz Delhi; (b) upper upscale – the Hyatt Delhi Residences, Hyatt Regency Ahmedabad, Hyatt Regency Lucknow and Hyatt Raipur; and (c) upscale – Hyatt Place Hampi. It has the largest aggregate inventory of upper tier branded serviced apartments in Mumbai and New Delhi among hotels owned by major private investors. As of June 30, 2023, (a) the
Grand Hyatt Mumbai Hotel and Residences had 665 keys, which represents approximately 13% of the total supply of 5.3k luxury room inventory in Mumbai, and (b) Andaz Delhi had 401 keys, which represents approximately 12% of the total supply of 3.3k luxury room inventory in New Delhi.
Its significant presence in New Delhi and Mumbai provides it with a strategic advantage from both international and domestic travel through these cities and the well-established business ecosystems. Ahmedabad is a hub for economic growth in Gujarat and Lucknow stands to benefit from the push for active investments in Uttar Pradesh. As of June 30, 2023, (a) the Hyatt Regency Ahmedabad had 211 keys, which represents approximately 26% of the total supply of 0.8k upper upscale inventory in Ahmedabad; and (b) the Hyatt Regency Lucknow had 206 keys, which represents approximately 52% of the total supply of 0.4k upper upscale inventory in Lucknow. In Raipur, the Hyatt Raipur was established to benefit from the industrial growth in the capital city of Chhattisgarh, the resource rich state. The Hyatt Place Hampi was established to cater to tourists visiting the Hampi UNESCO World Heritage Site, as well as to business travelers visiting the nearby steel manufacturing facilities.
For more information, click www.juniperhotels.com
Juniper Hotels IPO GMP, Particulars & Guidance
| Juniper Hotels IPO Details | |
| IPO opens on | 21 February 2024 |
| IPO closes on | 23 February 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 50000000 Sh /Rs 1800 Cr |
| * Fresh Issue | 50000000 Sh /Rs 1800 Cr |
| * Offer for Sale | ? Sh /Rs – Cr |
| Face Value per share: | Rs. 10 |
| Price Band | Rs. 342-360 |
| Retail Discount | Rs 0 per share |
| Employee discount | Rs.0 per share |
| Retail Lot Size | 40 Shares |
| Listing will at | BSE, NSE |
| Shares offered in Juniper Hotels? | Shares | Rs. in Cr |
| QIB (75 %) | 37500000 | 1350 |
| NII (15 %) | 7500000 | 270 |
| RII (10 %) | 5000000 | 180 |
| Employees | – | – |
| Total Shares | 50000000 | 1800 |
| Retail portion will be oversubscribed by | 125000 Forms. | |
| How to apply in Juniper Hotels IPO? | Amount Rs. | |
| Min Retail Application | 40 Sh | 14400 |
| Max Retail Application | 520 Sh | 187200 |
| Small HNI (Min) application | 560 Sh | 201600 |
| Small HNI (Max) application | 2760 Sh | 993600 |
| Big HNI Application | 2800 Sh | 1008000 |
| What is the timetable of Juniper Hotels IPO? | |
| IPO opens on | 21 February 2024 |
| IPO Closes on | 23 February 2024 |
| IPO Allotment on | 26 February 2024 |
| Unblocking of ASBA | 27 February 2024 |
| Credit of Shares | 27 February 2024 |
| Listing on | 28 February 2024 |
| Registered Office of Juniper Hotels | |
| Off Western Express Highway, Santacruz East, Mumbai 400055, Maharashtra, India |
|
| Who are the Lead Managers of Juniper Hotels IPO? JM Financial Limited CLSA India Private Limited ICICI Securities Limited |
|
| Registrar to IPO | |
| Kfin Technologies ltd |
| Juniper Hotels IPO Financial & Analytical Ratios | ||||
| Year | Total Income | Net Profit | EPS | RoNW |
| Rs. in Cr | Rs.in Cr | Rs. | % | |
| 2020-21 | 193 | -199 | -13.88 | -37 |
| 2021-22 | 344 | -188 | -13.08 | -53 |
| 2022-23 | 717 | -1.50 | -0.10 | -0.42 |
| Book Value of the Share on 31.03.2023 | Rs. | 24.67 | ||
| BV of the Share after the FPO | Rs. | ? | ||
| Offer Price at Cap | Rs. | 360 | ||
| Juniper Hotels IPO Ratio Analysis |
|
| Price /EPS | NA |
| Price/Book Value Ratio | 14.59 |
| Price/BV after IPO | ? |
How Juniper Hotels IPO compares with the Peers?
Peer Comparison.
| As on date of DRHP | FV | Total | PE |
| Rs. | Income | Ratio of | |
| Rs. In Cr | |||
| Juniper Hotels | 10 | 771 | NA |
| Chalet Hotels | 10 | 1128 | 62.66 |
| Lemon Tree Hotels | 10 | 875 | 83.90 |
| The Indian Hotels | 1 | 5809 | 59.00 |
| EIH Ltd | 2 | 2018 | 47.10 |
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Juniper Hotels IPO Guidance
Juniper Hotels is a luxury hotel development and ownership company, and are the largest owner, by number of Keys of “Hyatt” affiliated hotels in India as of June 30, 2023. It has a portfolio of seven
hotels and serviced apartments and operate a total of 1,836 keys.
It is the only hotel development company in India with which Hyatt has a strategic investment. It owns 20% of Hyatt group affiliated hotel rooms in India as on June 30, 2023.
Size: The size of this mainboard IPO is Rs. 1800 cr. However, retail portion is just Rs. 180 cr and HNI portion is Rs. 270 Cr. So, convincing the QIBs to invest in this hospitality company may not quite difficult. Retail and HNI portions being relatively very small, oversubscription may not be any issue.
Financial Snapshot. Because of booming hotel sector, the company also displayed sharp rise in its topline during last 3 years. It has incurred losses in the last 3 years, but the losses have steadily declined. The world over, Hyatt brand signifies luxury and even in India, the Hyaat hotels reflect the same image and reputation. Though the IPO-offer price is at negative PE multiple, the listing may give positive returns. Apply.
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