Juniper Hotels IPO day 3: Check latest subscription details, GMP

The Initial Public Offering (IPO) of Juniper Hotels performed better on the last day of its subscription than what it did on the first two days.

Juniper Hotels' Initial Public Offering (IPO) has garnered a subscription rate of 1.85 times as of the latest update on Friday, February 23, 2024.

The IPO received bids for 60,54,640 shares in the retail category against the 50,00,000 shares available, translating to a subscription rate of 1.21 times. In the Qualified Institutional Buyer (QIB) category, there were bids for 4,08,04,520 shares against 1,50,00,000 shares available, leading to a subscription rate of 2.72 times.

However, in the Non-Institutional Investor (NII) category, the subscription rate was 0.54 times, with bids for 40,70,400 shares compared to the 75,00,000 shares available.

The subscription at the end of the second day of the IPO stood at 0.23 times. The issue received bids for 66,03,040 shares against the offered 2,89,47,367 equity shares, priced between Rs 342-360 per share. The retail portion of the IPO witnessed a higher subscription rate of 87 per cent on the second day.

However, the non-institutional investors portion only saw a subscription rate of 0.14 times, while the qualified institutional buyer portion was subscribed 0.06 times.

Latest GMP for Juniper Hotels IPO

The latest Grey Market Premium (GMP) for Juniper Hotels IPO is Rs 2, last updated on February 23rd, 2024 at 02:25 PM.

Considering the price band of Rs 360.00, the estimated listing price for Juniper Hotels IPO is Rs 362 (upper price limit + today's GMP). This suggests an expected percentage gain/loss per share of 0.56 per cent.

Juniper Hotels Ltd successfully raised Rs 810 crores from anchor investors, both foreign and domestic institutions, including Fidelity and Kotak Mahindra MF, a day before the IPO opened.

Juniper Hotels IPO details

The IPO, which is a book built issue of Rs 1,800 crores, consists entirely of fresh shares totaling 5 crore.

The subscription for the Juniper Hotels IPO opened on February 21, 2024, and concluded on February 23, 2024. Allotment is expected to be finalised by Monday, February 26, 2024, with a tentative listing date set for Wednesday, February 28, 2024.

The price band for the Juniper Hotels IPO was set at ₹342 to ₹360 per share, with a minimum lot size of 40 shares. Retail investors were required to invest a minimum of ₹14,400, while the minimum lot size investment for NII was 14 lots (560 shares), amounting to ₹201,600, and for bNII, it was 70 lots (2,800 shares), amounting to ₹1,008,000.

Jm Financial Limited, Clsa India Private Limited, and ICICI Securities Limited are serving as the book running lead managers for the Juniper Hotels IPO, while Kfin Technologies Limited is the registrar for the issue.