SAMHI

April 24 (Reuters) - Indian real-estate developer Prestige Estates' PREG.NS hospitality business, Prestige Hospitality Ventures filed for a 27 billion rupees (about $317 million) initial public offering, according to draft papers released on Thursday.

WHY IT'S IMPORTANT

Prestige Hospitality IPO comes at a time when major Indian companies like Ather Energy ATHR.NS have reduced their IPO size and LG Electronics India LGEL.NS has delayed its listing amid market jitters.

Trade uncertainty sparked by U.S. President Donald Trump's on-again, off-again tariffs has roiled global markets.

Despite this, about 67 companies have raised over $2.32 billion in public listings so far this year in India, according to data compiled by LSEG.

CONTEXT

Prestige Estates is looking to raise between 20 billion rupees to 30 billion rupees through the public float of its hospitality business, as per local media reports from June 2024.

Sustained travel demand in the country and successful listings of firms like Samhi Hotels SAMH.NS and Juniper Hotels JUNI.NS in 2024 have bolstered investor confidence in the sector.

BY THE NUMBERS

Under the IPO, Prestige Hospitality will offer new shares worth 17 billion rupees, while the parent company, Prestige Estates, will offer shares worth 10 billion rupees.

J.M. Financial, CLSA, J.P. Morgan and Kotak Mahindra Capital are the IPO's lead book-running managers.

($1 = 85.3030 Indian rupees)

(Reporting by Manvi Pant in Bengaluru; Editing by Tasim Zahid)

(([email protected]; +918447554364;))

** India's Quality Power Electrical Equipment QUAY.NS and DAM Capital Advisors DAMC.NS slide as much as 6.7% and 4.2%, respectively

** Lock-in period on 6% outstanding QUAY and DAMC shares expire, as per Nuvama

** QUAY down 23% vs 425 rupees IPO price (lists on Feb 24); DAMS down 22% vs 283 rupees after IPO price (lists on Dec 27)

** DAM Capital gets SEBI administrative warning on certain broking operations matters

** Lock-ins on 6 others expire, including Sanathan Textiles SNAT.NS, Northern ARC Capital NORR.NS, Samhi Hotels SAMH.NS

** SNAT down 3.2%, while NORR flat; other stocks up

** 72 lock-ins to expire from March 17 to May 30 but not all shares will be for sale as promoters hold sizeable stakes, Nuvama says

(Reporting by Vivek Kumar M)

(([email protected];))

March 3 (Reuters) - Samhi Hotels Ltd SAMH.NS:

• UNIT GETS TAX DEMAND ORDER FOR 17.9 MILLION RUPEES

Source text: ID:nNSE2GZYkj

Further company coverage: SAMH.NS

(([email protected];;))

Feb 10 (Reuters) - Samhi Hotels Ltd SAMH.NS:

• SAMHI HOTELS LTD - TO SELL 100% STAKE IN DUET CHENNAI OMR

• SAMHI HOTELS LTD - CONSIDERATION RECEIVED FROM SALE IS 535 MILLION RUPEES

Source text: ID:nNSE8fnBTM

Further company coverage: SAMH.NS

(([email protected];))

Jan 21 (Reuters) - Samhi Hotels Ltd SAMH.NS:

• TO INVEST UP TO 205 MILLION RUPEES IN DUET CHENNAI OMR

Source text: ID:nBSEbTlhQj

Further company coverage: SAMH.NS

(([email protected];;))

Nov 13 (Reuters) - Samhi Hotels Ltd SAMH.NS:

• SAMHI HOTELS- SIGNS AGREEMENT WITH MARRIOTT INTERNATIONAL FOR MANAGEMENT OF 3 ADDITIONAL HOTELS

Source text: ID:nBSE3Dn7g5

Further company coverage: SAMH.NS

(([email protected];))

** Shares of SAMHI Hotels SAMH.NS rise as much as 9.3% to 204.24 rupees

** SAMH, which operates Marriott, Hyatt and IHG hotels in India, on Friday reported Q2 net profit of 126.2 mln rupees ($1.50 mln) vs loss of 880 mln rupees yr ago

** Rev from ops rose ~21% Y/Y

** Adds, Q2 occupancy was at 75%, up from 72% in same quarter last year

** More than 4.1 mln shares traded, nearly 5x the 30-day avg, and highest since Aug.9

** Stock up ~19% YTD

($1 = 84.3820 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru)

(([email protected]; +91 7982114624))

Nov 8 (Reuters) - Samhi Hotels Ltd SAMH.NS:

• SAMHI HOTELS - SIGNING OF LONG-TERM VARIABLE LEASE FOR A READY BUILDING IN HITEC CITY, HYDERABAD

Source text: ID:nBSE6xJVbX

Further company coverage: SAMH.NS

(([email protected];))

Oct 4 (Reuters) - Samhi Hotels Ltd SAMH.NS:

• APPROVED INVESTING FUNDS TO ACQUIRE 100% SHARE CAPITAL OF INNMAR TOURISM AND HOTELS

• DEAL FOR ENTERPRISE VALUE OF 2.05 BILLION RUPEES

Source text for Eikon: ID:nBSEtcVB8

Further company coverage: SAMH.NS

(([email protected];;))

Aug 2 (Reuters) - Samhi Hotels Ltd SAMH.NS:

• SAMHI HOTELS JUNE-QUARTER CONSOL NET PROFIT 42.3 MILLION RUPEES

• SAMHI HOTELS JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 2.50 BILLION RUPEES

Source text for Eikon: ID:nBSE5yGYnx

Further company coverage: SAMH.NS

(([email protected];))

March 21 (Reuters) - Samhi Hotels Ltd SAMH.NS:

• TO INVEST 13.1 MILLION RUPEES IN UNIT DUET INDIA HOTELS (AHMEDABAD)

• TO INVEST 55.5 MILLION RUPEES IN UNIT DUET INDIA HOTELS (PUNE)

Source text for Eikon: [ID:]

Further company coverage: SAMH.NS

(([email protected];))

Feb 2 (Reuters) - Samhi Hotels Ltd SAMH.NS:

• SAMHI HOTELS DEC-QUARTER CONSOL NET LOSS 744.2 MILLION RUPEES VERSUS LOSS 803 MILLION RUPEES

• SAMHI HOTELS DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 2.68 BILLION RUPEES VERSUS 1.91 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: SAMH.NS

(([email protected];;))

** Shares of Samhi Hotels SAMH.NS, which operates the Marriott, Hyatt and IHG brand of hotels in India, rise 4.9% to 177.70 rupees

** About 1 mln shares change hands in a block deal at 171.35 rupees per share

** Busiest session since late Nov 2023; trading volume of 2.7 mln shares 3x the 30-day avg

** Stock gained about 16% in 2023 since listing in Sept

(Reporting by Dimpal Gulwani in Bengaluru)

(([email protected]))

** JM Financial initiates coverage of SAMHI Hotels SAMH.NS with "buy" rating and PT at 290 rupees

** The PT represent a 88.3% premium to stock's last close

** SAMH operates Marriott, Hyatt and IHG hotels in India

** JMF says it "likes" SAMH for its ability to acquire and turn around underperforming assets; pan-India presence across price points

** JMF expects co's average room rates (ARR) to grow at 13%/6%/10% in FY24/FY25/FY26 and occupancy to be stable at 76%

** Revenue from operations likely to grow at a CAGR of 13% over FY23-26 on account of ARR growth, room additions - JMF

** Adds, expects EBITDA to grow at a CAGR of 24% over FY23-26

** Shares of SAMH rise as much as 3% to 158.70 rupees

($1 = 83.2440 Indian rupees)

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

Nov 8 (Reuters) - Samhi Hotels Ltd SAMH.NS:

• INDIA'S SAMHI HOTELS LTD SEPT-QUARTER CONSOL NET LOSS 880 MILLION RUPEES VERSUS LOSS 837.3 MILLION RUPEES

• SAMHI HOTELS LTD SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 2.2 BILLION RUPEES VERSUS 1.74 BILLION RUPEES

Source text for Eikon: ID:nNSE219Dnj

Further company coverage: SAMH.NS

(([email protected];))

BENGALURU, Sept 22 (Reuters) - Samhi Hotels SAMH.NS, which operates Marriott, Hyatt and IHG hotels in India, debuted at 134.5 rupees in pre-open trade on Friday, up 6.75%, compared with its initial public offer price of 126 rupees.

(Reporting by Rama Venkat in Bengaluru; Editing by Sonia Cheema)

(([email protected]; https://twitter.com/ramavenkat0607; +91 8095218099;))

BENGALURU, Sept 18 (Reuters) - The initial public offering (IPO) of Samhi Hotels SAMH.NS, which operates Marriott, Hyatt and IHG hotels in India, was oversubscribed by over five times, inviting bids worth 41.96 billion rupees ($504 million), exchange data showed on Monday.

Investors bid for 333 million shares by the final day of bidding, 5.33 times more than the 62.5 million shares on offer, with institutional investors showing the most interest, the data showed.

Samhi Hotels' 13.7-billion-rupees IPO comprises a fresh issue of shares worth up to 12 billion rupees and an offer-for-sale of up to 1.7 billion rupees from existing investors including Goldman Sachs GS.N.

The loss-making company has set a price band of 119 rupees to 126 rupees per share for the IPO, according to a newspaper advertisement. It's expected to make its trading debut next week.

Samhi Hotels's revenue from operations more than doubled to 7.39 billion rupees in the year ended March 31, helping its net loss narrow to 3.39 billion rupees from 4.43 billion rupees a year earlier.

Gurugram-based Samhi was incorporated in 2010 and has a portfolio of 31 operating hotels in 14 cities. Marriott MAR.O accounted for more than 60% of its revenue last financial year, while Hyatt H.N and InterContinental Hotels Group (IHG) IHG.L contributed a little over 18% each.

Samhi plans to use 9 billion rupees of the proceeds to repay debt, according to its IPO prospectus. Its consolidated outstanding debt was 31.18 billion rupees as of the end of June.

JM Financial and Kotak Mahindra Capital are the lead managers of the IPO.

($1 = 83.3067 Indian rupees)

(Reporting by Rama Venkat in Bengaluru; Editing by Savio D'Souza)

(([email protected]; https://twitter.com/ramavenkat0607; +91 8095218099;))