Juniper Hotels shares closes at 10% upper circuit on debut

Mumbai, 28th February 2024 (GNI): Mr. Arun Kumar Saraf, CMD and Varun Saraf, CEO, Juniper Hotels Limited during the listing ceremony at NSE in Mumbai!- photo by GNI

Juniper Hotels shares closes at 10% upper circuit on debut

Mumbai, 28th February 2024 (GNI): Shares of Juniper Hotels, which runs hotels under the “Hyatt” brand, closes at 10% upper circuit on debut.

The scrip listed Rs 361.20 per share on BSE and Rs 365 per share on NSE, at a premium of 0.33% and 1.39% respectively. The company’s share price closed at Rs 397.30 per share on the BSE, an 10.36% premium, and at Rs 401.50 per share on the NSE, an 11.53% premium.

As per NSE, the total quantity traded stood at 223.98 lakh shares, on BSE the total Quantity stood at 19.07 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 949.31 crore.

Mr. Arun Kumar Saraf, CMD – Juniper Hotels Limited, said “Today marks a significant milestone for Juniper Hotels. We extend our heartfelt gratitude to our valued investors whose unwavering support and confidence have propelled us to this momentous debut on the exchange. As we embark on this exciting journey, we reaffirm our commitment to delivering value and driving sustainable growth, guided by our vision and fuelled by innovation.”

The Market Capitalization of the Company at today’s closing price stood at Rs. 8,840.02 Crore as per BSE and Rs. 8,933.47 Crore as per NSE.

Juniper Hotels Limited (the “Company”) is a luxury hotel development and ownership company, and are the largest owner, by number of keys of “Hyatt” affiliated hotels in India as of September 30, 2023. (Source: Horwath Report). The Company is promoted by Saraf Hotels Limited and its affiliate, Juniper Investments Limited and Two Seas Holdings Limited an indirect subsidiary of a global hospitality company, Hyatt Hotels Corporation. The Company owns and manages a portfolio consisting of seven hotels and serviced apartments and operates a total 1,836 keys of “Hyatt” affiliated hotel keys in India as of September 30, 2023.

Its hotels and serviced apartments are classified under three distinct segments luxury – the Grand Hyatt Mumbai Hotel and Residences and Andaz Delhi; upper upscale – the Hyatt Delhi Residences, Hyatt Regency Ahmedabad, Hyatt Regency Lucknow and Hyatt Raipur; and upscale – Hyatt Place Hampi (source: Horwath Report). It has the largest aggregate inventory of upper tier branded serviced apartments in Mumbai and New Delhi among hotels owned by major private investors (source: Horwath Report).

As of September 30, 2023, the Grand Hyatt Mumbai Hotel and Residences had 665 keys, which represents approximately 12% of the total supply of 5.4k luxury room inventory in Mumbai; Andaz Delhi had 401 keys, which represents approximately 12% of the total supply of 3.3k luxury room inventory in New Delhi; the Hyatt Regency Ahmedabad had 211 keys, which represents approximately 26% of the total supply of 0.8k upper upscale inventory in Ahmedabad; and the Hyatt Regency Lucknow had 206 keys, which represents approximately 52% of the total supply of 0.4k upper upscale inventory in Lucknow (source: Horwath Report).ends GNI