Ahmedabad: 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), has fixed the price band of Rs 342 to Rs 360
per Equity Share for its initial public offer (“IPO” or “Issue”). The Issue of the Company will open on
Wednesday, February 21, 2024, for subscription and close on Friday, February 23, 2024. Investors can
bid for a minimum of 40 Equity Shares and in multiples of 40 Equity Shares thereafter.
The Issue is entirely of a fresh issue of up to Rs 18,000.00 million with no offer for sale component.
Of the total net proceeds to be raised through the Issue, the Company proposes to utilise up to Rs
15,000.00 million towards repayment/ prepayment/ redemption, in full or in part, of certain outstanding
borrowings availed by the Company and Subsidiaries, namely Chartered Hotels Private Limited and
Chartered Hampi Hotels Private Limited along with general corporate purposes.

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).

For the Fiscal Year 2023, the revenue from operations of the Company increased by 116.03% to Rs
6,668.54 million against Rs 3,086.89 million in Fiscal Year 2022. The restated loss for the year narrowed
to Rs 14.97 million in Fiscal Year 2023 from Rs 1,880.31 million in Fiscal Year 2022. For the six months
ended September 30, 2023 revenue from operations of the Company stood at Rs 3,361.12 million.
JM Financial Limited, CLSA India Private Limited, and ICICI Securities Limited are the book-running lead
managers to the Issue and KFin Technologies Limited is the registrar to the Issue. The Equity Shares are
proposed to be listed on the BSE and NSE. DeshGujarat