09 February 2024
Juniper Hotels, which runs under the brand name of ‘Hyatt’, announced on Monday that has received final observation from the capital markets regulator, the Securities and Exchange Board of India (SEBI), to raise ₹1800 crore through an initial public offering (IPO). The company filed preliminary IPO papers with the market regulator on September 28, 2023.
The IPO with a face value of ₹10 is entirely through a fresh issue of equity shares with no Offer for Sale (OFS) component, according to the company's exchange filing.
The company may consider a further issue of equity shares on a private placement for cash consideration aggregating up to ₹350 crore. If such placement is completed, the fresh issue size will be reduced.
The company proposes to use the net proceeds of ₹1,500 crores towards repayment, prepayment, or redemption, in full or in part, of certain outstanding borrowings (including payment of the interest accrued thereon) availed by the company and its subsidiaries and for general corporate purposes.
Juniper Hotels, which runs under the brand name of ‘Hyatt’, announced on Monday that has received final observation from the capital markets regulator, the Securities and Exchange Board of India (SEBI), to raise ₹1800 crore through an initial public offering (IPO). The company filed preliminary IPO papers with the market regulator on September 28, 2023.
The IPO with a face value of ₹10 is entirely through a fresh issue of equity shares with no Offer for Sale (OFS) component, according to the company's exchange filing.
The company may consider a further issue of equity shares on a private placement for cash consideration aggregating up to ₹350 crore. If such placement is completed, the fresh issue size will be reduced.
The company proposes to use the net proceeds of ₹1,500 crores towards repayment, prepayment, or redemption, in full or in part, of certain outstanding borrowings (including payment of the interest accrued thereon) availed by the company and its subsidiaries and for general corporate purposes.
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