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Juniper Hotels Ltd., India’s largest Hyatt-affiliated owner, has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO) valued at ₹1800 crore ($241 million) on Friday. The company, founded by Arun Kumar Saraf and currently led by CEO Varun Saraf, intends to use the proceeds from the IPO to repay its debt.
The offering is being managed by JM Financial Limited, CLSA India Private Limited, and ICICI Securities Limited who are overseeing the book-running process.
Juniper Hotels’ impressive portfolio includes luxury properties such as the Grand Hyatt Mumbai and Andaz Delhi. Their upper-upscale offerings feature the Hyatt Regency Ahmedabad, Lucknow, and Raipur. Additionally, the company owns upscale properties like the Hyatt Place Hampi. Juniper’s affiliation with the global hospitality giant, Hyatt Hotels (NYSE:) Corporation, further strengthens its position in India’s hotel industry.
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