Juniper Hotels Ltd IPO

Juniper Hotels Limited was incorporated as Seajuli Finance Private Limited on September 16, 1985, as a private limited company under the Companies Act, 1956, at Kolkata, pursuant to a certificate of incorporation granted by the Registrar of Companies, West Bengal at Kolkata (RoC WB). Pursuant to an allotment of Equity Shares by the Company and in accordance with the provisions of Section 43A of the Companies Act, 1956, its Board passed a resolution on September 2, 1986, wherein its Board noted that the Company had become a deemed public company, and the name of the Company was changed to Seajuli Finance Limited with effect from September 2, 1986, pursuant to a certificate of incorporation endorsed by the RoC WB to that effect. Pursuant to resolutions passed by its Board and its Shareholders on August 4, 1995 and August 31, 1995 respectively, the name of the Company was changed to Seajuli Property & Viniyog Limited to reflect the business activities of the Company and a fresh certificate of incorporation was issued by the RoC WB on October 13, 1995. Since the incorporation of the Company till October 30, 1996, the Company was involved in the business of making investments. Pursuant to a special resolution passed by itsr Shareholders on October 30, 1996, the commencement of hotel business of the Company was approved. Consequent to the amendment in Section 43A of the Companies Act, 1956 by the Companies (Amendment) Act, 2000, the Company was re-converted from a deemed public company to a private limited company pursuant to a resolution passed by its Board on June 13, 2001 and the certificate of incorporation of the Company was endorsed by the RoC WB to that effect. Thereafter, pursuant to a special resolution passed by its Shareholders on October 16, 2003, the name of the Company was changed from Seajuli Property & Viniyog Private Limited to Juniper Hotels Private Limited, to reflect the main activities, i.e., hotel business, undertaken by the Company and a fresh certificate of incorporation was issued by the RoC WB on December 23, 2003. Further, pursuant to a special resolution passed by the Shareholders dated October 16, 2003 which was confirmed by an order of the Company Law Board, Eastern Region Bench, Kolkata dated February 18, 2005, the registered office of the Company was shifted from the state of West Bengal to the state of Maharashtra with effect from February 5, 2005 and a certificate of registration of the order of the Company Law Board for change of state was issued by the Registrar of Companies, Maharashtra at Mumbai (RoC) on April 27, 2005. On the conversion of the Company from a private limited company to a public limited company, pursuant to a resolution passed by its Board on August 4, 2023 and a special resolution passed by its Shareholders on August 7, 2023, its name was changed to Juniper Hotels Limited and a fresh certificate of incorporation dated August 28, 2023 was issued by the RoC.

Hotels in India are segmented into the luxury and upper upscale segment, upscale segment, upper midscale segment, midscale segment and economy segment. The overall demand CAGR for hotels in India is expected to reach 11.6% between Fiscal 2023 and Fiscal 2027. The luxury and upper upscale segments had a revenue and supply share, contributing to 35% of the supply share and 55% of the revenue share in 2022. Approximately, 60,000 rooms are expected to be added between 1 October 2023 and 31 March 2027, with approximately 25% of the new supply being in the luxury upper upscale segment.

Juniper Hotels Limited is a luxury hotel development and ownership company, and is the largest owner, by number of keys of Hyatt affiliated hotels in India as of September 30, 2023. As on date of this Red Herring Prospectus, The Company has a portfolio of seven hotels and serviced apartments and as on September 30, 2023, it operated 1,836 keys across the luxury, upper upscale and upscale category of hotels across various locations in India, namely Mumbai, Delhi, Ahmedabad, Lucknow, Raipur and Hampi. The Company benefits from a unique partnership between Saraf Hotels (and its affiliates) and affiliates of, Hyatt Hotels Corporation.