Juniper Hotels files DRHP with SEBI for Rs 1800 crore IPO
Juniper Hotels Ltd, which runs hotels under the "Hyatt" brand, has filed preliminary papers with capital markets regulator Sebi to raise Rs 1,800 crore through an initial public offering (IPO). As per the DRHP, the company's maiden public issue is entirely through a fresh issue of equity shares with no Offer for Sale (OFS) component. The issue is being made through the book-building process, wherein not less than 75% of the issue shall be available for allocation on a proportionate basis to qualified institutional buyers, not more than 15% of the issue shall be available for allocation to non-institutional investors, and not more than 10% of the issue shall be available for allocation to retail individual investors. The company, in consultation with the lead bankers to the issue, may consider a further issue of equity shares on a private placement for cash consideration aggregating up to Rs 350 crore (“Pre-IPO Placement”). If such placement is completed, the fresh issue...