Unlisted shares of Juniper Hotels Ltd are trading Rs 3 higher in the grey market, expecting just 0.83 per cent listing gain from the public issue
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Juniper Hotels IPO: The initial public offering of luxury hotel development company Juniper Hotels Ltd, which is going to be closed on Friday, February 23, has received a muted response from investors. Till 12:05 pm on the final day of bidding on Friday, the Rs 1,800-crore IPO received only 30 per cent subscription, garnering bids for 81,98,960 shares as against 2,75,00,000 shares on offer.
The IPO was opened for public subscription on Wednesday, February 21.
The retail category has been fully subscribed 1.08 times, and the non-institutional quota got 0.25 times subscription. The QIB quota got a 0.06 times subscription.
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The allotment of Juniper Hotels IPO will take place on February 26, while its listing will take place on both BSE and NSE on February 28, 2024.
Juniper Hotels IPO GMP Today
According to market observers, unlisted shares of Juniper Hotels Ltd are trading Rs 3 higher in the grey market as compared with its issue price. The Rs 3 grey market premium or GMP means the grey market is expecting just 0.83 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
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‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Juniper Hotels IPO Details
Juniper Hotels IPO is entirely a fresh issue of 5 crore shares. The price band of the IPO has been fixed at Rs 342 to Rs 360 per share.
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The minimum lot size for an application is 40 shares. The minimum amount of investment required by retail investors is Rs 14,400. The minimum lot size investment for small NII is 14 lots (560 shares), amounting to Rs 201,600, and for big NII, it is 70 lots (2,800 shares), amounting to Rs 10,08,000.
JM Financial Limited, CLSA India Private Limited and ICICI Securities Limited are the book-running lead managers of the Juniper Hotels IPO, while Kfin Technologies Limited is the registrar for the issue.
