Juniper lodges IPO makes sturdy debut, inventory surges over 10% – Occasions of India

Shares of Juniper Lodges Ltd, which operates lodges beneath the Hyatt model, had a gentle begin on Wednesday. The inventory listed at Rs 361.20 on the BSE, a minimal improve of 0.33% from its subject value of Rs 360. Nonetheless, because the day progressed, the inventory gained momentum and surged greater than 10%. It reached its higher circuit restrict at Rs 397.30.
On the NSEthe inventory made its debut at Rs 365, displaying a acquire of 1.38%.Subsequently, it continued its upward trajectory, hovering by 10.47% to achieve Rs 397.70.
The preliminary public providing (IPO) of Juniper Lodges was oversubscribed 2.08 instances by the top of the supply interval on Friday. The IPO consisted of recent fairness shares price Rs 1,800 crore, with a value band of Rs 342-360 per share.
Out of the entire funds raised, Rs 1,500 crore will probably be used to repay the debt of Juniper Lodges and its subsidiaries, Chartered Lodges Pvt Ltd and Chartered Hampi Lodges Pvt Ltd. The remaining quantity will probably be utilized for basic company functions.
As of September 2023, Juniper Lodges had a various portfolio of seven lodges and serviced residences, providing a complete of 1,836 keys. The properties belong to the luxurious, higher upscale, and upscale classes of lodges in India.
Presently, Saraf Lodges owns a 44.68% stake in Juniper Lodges, whereas Two Seas Holdings holds a 50% stake. The remaining 5.32% shareholding is with Juniper Investments.