You can invest in this IPO starting today, find out what’s happening at GMP.

New Delhi. The Rs 1,800-crore IPO of Juniper Hotels, the operator of Hyatt brand hotels, opened for subscription today. Investors can bid for shares in this IPO till February 23. The price band of Juniper Hotel IPO has been fixed at Rs 342-360 per share. This is a fresh issue. This means that no shares will be sold through the Offer for Sale.

Juniper Hotels is a luxury hotel development and ownership company. The company operates luxury, upper scale and upscale category hotels. The company has hotels in Mumbai, Delhi, Ahmedabad, Lucknow, Raipur and Hampi. The allotment of shares in the Juniper Hotels IPO will take place on February 26. The IPO shares are expected to list on BSE and NSE on February 28.

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810 crore raised from anchor investors
Ahead of the launch of the Juniper Hotels IPO, the company has raised Rs 810 crore from anchor investors. Foreign and domestic institutions participating in this anchor book include Fidelity, Kotak Mahindra Bank MF, Government Pension Fund (Norway), White Oak, The Prudential Assurance Company (MNG), Invesco, ICICI Prudential Life. Insurance, including HDFC Life Insurance and Quant. mutual fund.

75% of the IPO has been allocated to institutional investors while 15% and 10% will be allocated to non-institutional investors and retail investors respectively. The company will use Rs 1,500 crore for debt repayment and general corporate purposes. The minimum lot size of an IPO is 40 equity shares. Investors will then be able to bid in multiples of 40.

How much is GMP?
Juniper Hotels is owned by Saraf Hotels, its subsidiary Juniper Investments and Two Seas Holdings. The unlisted shares of Juniper Hotels IPO are trading at a premium of Rs 8 in the gray market. This means the IPO shares can be listed at Rs 368. But, investors should always remember that if the IPO shares are trading at a premium in the gray market, it is not necessarily the case that they will be listed at a premium in the stock market. The opposite can also happen.

Tags: money making tips, Stock market, IPO