Juniper Hotels IPO allotment status: Check application, latest GMP and listing date

Juniper Hotels is likely to finalize the basis of allotment for its recent public issue on Monday, February 26. Bidders are likely to receive messages, alerts or emails regarding debit of funds or revocations of IPO mandate latest by Tuesday, February 27. The luxury hotel development and ownership player had received a muted response for its IPO.

Juniper Hotels sold its IPO in the price band of Rs 342-360 per share with a lot size of 40 equity shares, between February 21 and February 23. The company raised Rs 1,800 crore through its primary offering, which was entirely a fresh share sale of up to 5,00,00,000 equity shares.

The issue was overall subscribed only 2.08 times, thanks to dull buying interest from all categories of investors. The quota for qualified institutional bidders was subscribed 2.96 times while the portion reserved for retail investors was subscribed 1.28 times. The allocation for non-institutional investors was undersubscribed and was booked merely 85 per cent.

Grey market premium (GMP) of Juniper Hotels has seen a sharp correction following the dull bidding for the issue. Last heard, the company was commanding a negligible premium of Rs 0-2 per share, suggesting no listing pop for the investors. However, it was around Rs 10, when the issue was opened for bidding.

Incorporated in September 1985, Juniper Hotels is a luxury hotel development and ownership company. It operates seven hotels and serviced apartments with a total of 1,836 rooms as of September 30, 2023, It has hotels and serviced apartments in Mumbai, Delhi, Ahmedabad, Lucknow, Raipur, and Hampi in the luxury, upper upscale and upscale categories.

Brokerage firms had a mixed view on the stock. A few analysts have suggested subscribing to the issue citing the unfolding of opportunities on the back of improved efficiencies, acquisitions and expansion plans. However, others are suggested to give the IPO a skip due to mounting debt, loss-making nature and asset-heavy model of the business.

JM Financial, ICICI Securities and CLSA India are the book running lead managers of the Juniper Hotels IPO, while Kfin Technologies is the registrar for the issue. Shares of the company are set to be listed on Wednesday, February 28 on both BSE and NSE.

Investors, who had bid for the issue of Juniper Hotels, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Juniper Hotels Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit submit

Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

1) Go to the web portal of KFin Technologies Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.

 

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.

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