Juniper Hotels Ltd, which runs hotels under the “Hyatt” brand, on Thursday fixed a price band of Rs 342-360 per share for its Rs 1,800-crore initial public offering (IPO).
The maiden public issue will open for subscription on February 21 and close on February 23, the company said in a statement.
The IPO is entirely a fresh issue of equity shares worth Rs 1,800 crore with no Offer For Sale (OFS) component.
Of the total proceeds, funds to the tune of Rs 1,500 crore will be utilised for payment of debt availed by the company and subsidiaries — Chartered Hotels Private Limited and Chartered Hampi Hotels Private Limited.
Besides, a portion will be used for general corporate purposes. Juniper Hotels is promoted by Saraf Hotels Ltd and its affiliate– Juniper Investments Ltd– and Two Seas Holdings Ltd, an indirect subsidiary of a global hospitality company Hyatt Hotels Corporation.
The hospitality firm has a portfolio of seven hotels and serviced apartments and operates 1,836 keys ac
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