Juniper Hotels shares advance 4 per cent in trade on BSE, logging an intraday high at Rs 287 per share. The buying in the stock sparked after the company entered into a share purchase agreement with Jenipro Hotels Private Limited.
Around 10:59 AM, Juniper Hotels share price was up 3.17 per cent at Rs 284.7 per share on BSE. In comparison, the BSE Sensex was up 0.16 per cent at 75,424.07. The market capitalisation of the company stood at Rs 6,334.64 crore. The 52-week high of the stock was at Rs 538 per share and the 52-week low was at Rs 224.50 per share.
“We inform you that Juniper Hotels Limited (the company) has executed a Share Purchase Agreement (SPA) with Jenipro and its selling shareholder on March 18, 2025,” the filing read.
The acquisition is done to develop a 5 star Hotel/Resort of International Standard on Kaziranga Land which has been taken on lease by Jenipro from Assam Tourism Development Corporation Limited to develop a tourism infrastructure under a Public-Private Partnership (PP) model.
Upon completion of the acquisition, the company owns 100 per cent of the shares of Jenipro, making it a wholly owned subsidiary.
Juniper Hotels is a strategic partnership between the Saraf group, a hotel developer with a strong and well-established track record of over 40 years, and Hyatt. The Saraf group has developed over eleven hotels across nine cities in India and Nepal. Their first hotel, Yak and Yeti, was established in Kathmandu, Nepal in 1977 by Arun’s father, the late Radhe Shyam Saraf.
The Saraf group joined hands with Hyatt in 1998 in the form of Juniper Hotels to launch its first and flagship property, Grand Hyatt Mumbai Hotel and Residences (Opened in 2004). This partnership between a developer and an international chain operator is a unique combination of in-depth market understanding, development experience, long-standing brand heritage and operational expertise. It signifies not only a commitment to excellence but also a dedication to owning and managing remarkable assets.
In the past one year, Juniper Hotels shares have lost 40 per cent against Sensex’s rise of 4.5 per cent.
