Juniper Hotels submits DRHP to Sebi

Mumbai: Juniper Hotels, which runs hotels under the Hyatt brand, has filed a draft red herring prospectus with Sebi to raise ₹1,800 crore through an initial public offering (IPO). The public issue is entirely a fresh share issue. The company may consider a further issue of shares through private placement for up to ₹350 crore.

The company proposes to use the net proceeds of ₹1,500 crore towards repayment of outstanding borrowings availed by the company and its subsidiaries and for general corporate purposes. JM Financial, CLSA India, and ICICI Securities are the book-running lead managers.