The initial public offering (IPO) of Juniper Hotels saw a subdued reaction from investors on the first day of its launch on February 21. The subscription process, which started on Wednesday, witnessed a lukewarm reception on the Dalal street.Â
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Headquartered in Mumbai, Juniper Hotels is offering its shares within the price range of Rs 342 to Rs 360 each, with a lot size of 40 shares and multiples thereafter.
The IPO consists entirely of a fresh sale of up to 5,00,00,000 equity shares. The company aims to raise a total of Rs 1,800 crore through this IPO.
Juniper Hotels IPO subscription on Day 1
The Juniper Hotels IPO saw a subscription rate of 0.12 times overall. The public issue witnessed a subscription of 0.57 times, with only 28,25,360 shares worth Rs 101.71 crore being bid for out of the allocated 50,00,000 shares in the retail category.
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However, there was no subscription in the QIB category, and in the NII category, the subscription stood at 0.07 times, with only 4,95,240 shares worth Rs 17.83 crore being bid for out of the allocated 75,00,000 shares by February 21, 2024, at 5:27:00 PM.
Latest GMP for Juniper Hotels IPO
The latest General Market Price (GMP) for Juniper Hotels IPO is Rs 5, as of February 21st, 2024, at 04:29 PM. Considering the price band of Rs 360.00, the estimated listing price for Juniper Hotels IPO is Rs 365 (the cap price plus today’s GMP). This implies an expected percentage gain/loss per share of 1.39 percent.
Subscription closes on February 23, 2024, and allotment is expected on February 26, 2024. Listing is set for February 28, 2024, on BSE and NSE.
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Jm Financial Limited, Clsa India Private Limited, and ICICI Securities Limited are the book running lead managers, and Kfin Technologies Limited is the registrar.
