The Indian market is abuzz with anticipation as two significant upcoming IPOs in India are set to make waves. Juniper Hotels and Ixigo, representing the hospitality and travel sectors, respectively, are ready to launch. Let’s explore the details of these upcoming initial public offerings in India.
Upcoming IPOs in India| Key Highlights
- Juniper Hotels IPO opens Feb 21st, aiming to raise Rs 1,800 Cr
- Juniper Hotels IPO Price band: ₹342 to ₹360 per share, with a minimum lot size of 40 shares
- Strategic affiliation with “Hyatt,” India’s largest Hyatt-affiliated hotel owner
- 10% of the issue size is reserved for retail investors, ensuring broader participation
- Ixigo, an AI-based travel aggregator, refiling IPO draft papers
- Ixigo IPO Plans: To issue fresh shares worth Rs 120 Cr alongside an offer-for-sale
Juniper Hotels Limited IPO
Juniper Hotels, a luxury hotel development and ownership company, is on the brink of launching its IPO. Juniper IPO is scheduled to be open for subscription from February 21 to 23.
Company Overview and Fundraising Goals
The company aims to raise an impressive sum of Rs 1,800 crore through this offering, leveraging its extensive portfolio comprising 1,836 keys spread across luxury, upper upscale, and upscale categories in key Indian cities.
Juniper Hotels IPO Details
- IPO Price Band: ₹342 to ₹360 per share
- IPO Opens- Feb 21st, 2024
- IPO Closes Feb 23rd, 2024
- Minimum Lot Size: 40 Shares
- Minimum Investment (Retail Investors): ₹14,400
- Minimum Lot Size Investment for sNII: 14 lots (560 shares), amounting to ₹201,600
- Minimum Lot Size Investment for bNII: 70 lots (2,800 shares), amounting to ₹1,008,000
Strategic Affiliation with “Hyatt”
A noteworthy aspect of Juniper Hotels is its status as the largest owner of “Hyatt” affiliated hotels in India as of September 30, 2023, positioning the company uniquely in the market.
Juniper Hotel IPO Price Band
According to the red herring prospectus, 10 percent of the issue size will be reserved for retail investors, ensuring broader participation in the offering. Investors can anticipate a detailed price band announcement closer to the subscription period.
Utilisation of Juniper Hotels Limited IPO Proceeds
Juniper Hotels intends to utilise the proceeds from the IPO primarily for debt repayment, aiming to retire a significant debt burden of Rs 1,500 crore. Additionally, the remaining funds will be allocated towards general corporate purposes, enhancing the company’s operational efficiency and strategic initiatives.
Ixigo IPO: Travel Aggregator Refiles Draft Papers, Reduces Fresh Issue Size to Rs 120 Crore
Ixigo, an AI-based travel aggregator, has refiled draft papers for its IPO, signalling its intent to enter the public markets. The offering consists of a mix of fresh issuance of shares worth Rs 120 crore and an offer-for-sale (OFS) of existing shares, totalling 6,66,77,674 equity shares.
About Ixigo
Founded in 2007, Ixigo has established itself as a prominent player in the Indian travel ecosystem. Ixigo provides travellers with comprehensive trip-planning services across rail, air, buses, and hotels.
The company’s online travel agency (OTA) platform caters to the diverse needs of Indian travellers, offering convenience and efficiency in trip planning and booking.
- Ixigo IPO Date: The IPO filing was made on February 14, 2024, as per the preliminary papers. However, the specific opening date for subscription is yet to be announced.
- Ixigo IPO Price: The IPO consists of a mix of fresh issuance of shares worth Rs 120 crore and an offer-for-sale of existing shares. The specific Ixigo IPO price band is yet to be announced.
Industry Overview and Financials
Ixigo’s financial performance underscores its growth revolution and market potential.
In the fiscal year ended March FY23, the company recorded a consolidated net profit of Rs 23.4 crore. Moreover, its revenue from operations surged to Rs 501.25 crore, reflecting robust top-line growth.
Objectives of Ixigo IPO
The IPO proceeds are committed for various strategic purposes. This includes working capital requirements and investment in cloud infrastructure and technology.
This allocation underscores Ixigo’s commitment to improving its technological capabilities and market presence.
Conclusion
Juniper Hotels and Ixigo’s IPOs present unique opportunities for investors to enter India’s thriving hospitality and travel markets. With Juniper leveraging its portfolio and Ixigo showcasing strong financials and innovation, both companies stand poised for growth.
Source- moneycontrol.com/news, moneycontrol.com
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Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.