Juniper Hotels shares to be listed today; will the stock disappoint at D-St debut?

Juniper Hotels Ltd is set to make a tepid market debut on Wednesday. The stock may list flattish, if one goes by its grey market premium (GMP). Listing pop, if any, will be contrary to the Street's expectations.

Grey market premium (GMP) of Juniper Hotels has seen a sharp correction of late. A day before its listing, the company was commanding a negligible premium of Rs 0-2 per share, suggesting no listing pop.

"Post receiving a muted subscription, we expect Juniper Hotels to make a tepid debut on the bourses on Wednesday," said Parth Shah, Research Analyst at StoxBox. "Being in the luxury hotel development and ownership space, Juniper Hotels is the largest owner of hotels by number of keys of Hyatt-affiliated hotels in India."

Benefiting from a unique and longstanding partnership of over 40 years between Saraf Hotels and Hyatt Hotels Corporation, the company has extensive experience in identifying opportunities in hospitality destinations, developing high-end hotels in these locations, and nurturing them through active asset management, he added with a suggestion to exit the stock on listing.

To recall, Juniper Hotels' IPO ran between February 21 and February 23. The IPO was sold in the fixed price band of Rs 342-360 per share and raised a total of Rs 1,800 crore The issue was entirely a fresh share sale of up to 5,00,00,000 equity shares.

The IPO was subscribed 2.08 times, thanks to dull buying interest from all categories of investors. The quota reserved for qualified institutional bidders was subscribed 2.96 times while the portion reserved for retail investors was subscribed 1.28 times. The quota reserved for non-institutional investors was ‘undersubscribed' and was booked merely 85 per cent.

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