The net proceeds from the IPO will be utilized towards repayment/prepayment/redemption, in full or in part, of certain borrowings availed by the company and its recent acquisitions, and general corporate purposes.

Incorporated in 1985, Juniper Hotels is a luxury hotel development and ownership company. It is co-owned by Saraf Hotels and Two Seas Holding, an affiliate of Hyatt Hotels Corporation (HHC). Juniper Hotels and HHC have a long-standing partnership of four decades. As on September 30th 2023, the company owns about 20% of Hyatt group affiliated hotel rooms and apartments in India. As on September 30th 2023, the company operates 7 hotels and 1,836 serviced apartments. Its hotels and serviced apartments are classified under three 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. The company features an aggregate of 22 renowned restaurants and bars. Among its strategic locations, the company has 665 keys in Grand Hyatt Mumbai and 401 keys in Andaz, Delhi, as on 30th September 2023.

• The company is the only hotel development company in India which has a long-standing strategic partnership with HHC. This provides Juniper Hotels the operational expertise and access to a large clientele. As on September 30th 2023, HHC had approx. 42 million members under its World of Hyatt Loyalty programs. 
• The company holds an extensive experience in recognizing opportunities at hospitality destinations, developing high-end hotels at these locations and then managing them under HHC’s brand name.  
• It has multiple revenue streams such as serviced apartments, restaurants, MICE services, and complementary offerings.

• The following points should be kept in mind:
• A significant portion of the company’s revenue (~80%) is derived from Grand Hyatt Mumbai Hotel and Residences and Andaz Delhi.
• As on H1FY24, the company had total outstanding borrowings of Rs 2,253 crore. The company intends to utilize Rs 1,500 cr from the net proceeds towards repayment/ prepayment/ redemption of all or a portion of certain outstanding borrowings availed by the company and its recent acquisitions. 
• Andaz Delhi and Hyatt Delhi Residences, and Hyatt Place Hampi are located on a leased/licensed land. Any issues with the lease or licensing agreements will affect the business, operations and cash flows.
• The company is subject to seasonal variations that could fluctuate the cash flows and overall operations. 
• The company operates in a highly competitive industry with large Indian and multinational players which may adversely affect the business and its cash flows.