JUNIPER

** Shares of Juniper Hotels JUNI.NS climb 2.4% to 323.75 rupees

** Luxury hotels operator expects EBITDA to double by FY27, inventory to double in next 4-5 years, brokerage Yes Securities says, citing analyst call on June 10

** Adds co is in process of multiple inventory additions and hotels acquisitions; Yes Securities expects JUNI's strong expansion pipeline will drive growth

** Says co's net debt/EBITDA to remain healthy despite capex plans as new assets are expected to start contributing to its topline from FY27

** Avg rating of three brokerages on stock is "strong buy", median PT is 410 rupees - data compiled by LSEG

** Stock down ~8% year-to-date

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

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;))

Juniper Hotels Ltd JUNI.NS:

• JUNIPER HOTELS LTD - EXECUTES SHARE PURCHASE AGREEMENT WITH JENIPRO

• JUNIPER HOTELS - SHARE PURCHASE AGREEMENT FOR ACQUISITION OF SHARES OF JENIPRO HOTELS

• JUNIPER HOTELS LTD - ACQUISITION TO DEVELOP 5 STAR HOTEL ON KAZIRANGA LAND

Source text: ID:nBSE6z0jBq

Further company coverage: JUNI.NS

** Events such as religious festival Maha Kumbh Mela and Coldplay concerts, scheduled to be held between Jan.-Feb. 2025, will drive growth for Indian hotels in Q4, Elara Capital says

** Taj Ganges owned by Indian Hotel's IHTL.NS unit Benares Hotels BNRS.BO to benefit from Kumbh Festival in Prayagraj; Juniper Hotels JUNI.NS and others to benefit from Coldplay concerts in Mumbai and Ahmedabad - brokerage

** Says hotels sector witnessed good growth in Q3, led by high occupancy and double-digit growth in average room rate (ARR)

** Brokerage's top picks include Chalet Hotels CHAL.NS, JUNI, IHTL

** CHAL, JUNI, IHTL, and BNRS up 3.8%, 0.6%, 0.07%, and 0.6%, respectively

(Reporting by Aleef Jahan in Bengaluru)

(([email protected]))

** Axis Capital initiates coverage on Chalet Hotels CHAL.NS, Juniper Hotels JUNI.NS, The Indian Hotels Co IHTL.NS with 'buy', and Lemon Tree Hotels LEMO.NS with 'add'

CHALET HOTELS AND JUNIPER HOTELS

** Brokerage sees revenue and occupancy at CHAL and JUNI benefiting from premium brand affiliations (CHAL-Mariott; JUNI-Hyatt)

** CHAL and JUNI's assets all located near business centers and airports, targeting business travellers - brokerage

INDIAN HOTELS CO AND LEMON TREE HOTELS

** IHTL, which operates the iconic Taj Brand, and LEMO to benefit from premiumization

** Both IHTL and LEMO plan to increase the share of managed hotels in their portfolios, as part of an asset-light model strategy, a plus for management fee growth and profit margins - brokerage

** On the day, CHAL up 5.27% to 976 rupees ($11.50), LEMO up 1.56% to 145 rupees, while JUNI down 1.02% to 358.6 rupees and IHTL flat

($1 = 84.8625 Indian rupees)

(Reporting by Ananta Agarwal in Bengaluru)

(([email protected]))

** Shares of luxury hotels operator Juniper Hotels JUNI.NS rise 3.5% to 384.30 rupees, set for fourth straight gaining session

** CLSA initiates coverage with 'outperform' and TP at 430 rupees, which is 16% premium to prev close

** It is the second brokerage to start coverage on JUNI after Elara Securities' "buy" in March - LSEG

** CLSA sees healthy growth in JUNI's EBITDA in next 3 years from improvement in occupancy and average revenue per room at Grand Hyatt Mumbai and continued strong average revenue per room in Andaz Hotel, Delhi

** Hoteliers like JUNI well-positioned to benefit from India's growing hospitality sector - CLSA

** Juniper Hotels operates 2,115 rooms across 8 hotels, most of which are Hyatt-affiliated

** Stock up ~5% since listing in February

(Reporting by Vijay Malkar)

(([email protected];))

Nov 11 (Reuters) - Juniper Hotels Ltd JUNI.NS:

• JUNIPER HOTELS SEPT-QUARTER CONSOL NET LOSS 278.2 MILLION RUPEES

• JUNIPER HOTELS SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 2.15 BILLION RUPEES

Source text: ID:nNSE5YQb3q

Further company coverage: JUNI.NS

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Oct 7 (Reuters) - Juniper Hotels Ltd JUNI.NS:

• JUNIPER HOTELS - ENTERED INTO SECURED TERM LOAN AGREEMENT FOR 2.8 BILLION RUPEES WITH ICICI BANK

Further company coverage: JUNI.NS

(([email protected];))

Aug 30 (Reuters) - Juniper Hotels Ltd JUNI.NS:

• JUNIPER HOTELS LTD - TO ENTER INTO AGREEMENT TO ACQUIRE 220-ROOM HOTEL ASSET NEAR BENGALURU AIRPORT

Source text for Eikon: ID:nBSE8nWXHX

Further company coverage: JUNI.NS

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Aug 12 (Reuters) - Juniper Hotels Ltd JUNI.NS:

• JUNIPER HOTELS JUNE-QUARTER CONSOL NET PROFIT 116.7 MILLION RUPEES

• JUNIPER HOTELS JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 2 BILLION RUPEES

Source text for Eikon: ID:nBSE34Yvhh

Further company coverage: JUNI.NS

(([email protected];))

May 8 (Reuters) - ICICI Bank Ltd ICBK.NS:

• JUNIPER HOTELS - ENTERED INTO SECURED TERM LOAN AND WORKING CAPITAL FACILITY AGREEMENT FOR 4.91 BILLION RUPEES WITH ICICI BANK

• JUNIPER HOTELS - AGREEMENT INCLUDES 4.16 BILLION RUPEES FOR REFINANCING EXISTING LOAN FROM JP SECURITIES ASIA

• JUNIPER HOTELS LTD - REMAINING AMOUNT WILL BE USED FOR GENERAL WORKING CAPITAL REQUIREMENTS

Source text for Eikon: ID:nNSE3nhgQt

Further company coverage: ICBK.NS

(([email protected];))

Juniper Hotels Ltd JUNI.NS:

• JUNIPER HOTELS - APPROVED REFINANCING OF EXISTING LOAN OF 4.16 BILLION RUPEES

• JUNIPER HOTELS - APPROVED ADDITIONAL WORKING CAPITAL LIMITS OF 750 MILLION RUPEES

Source text for Eikon: ID:nBSE4NB27G

Further company coverage: JUNI.NS

** Shares of Juniper Hotels JUNI.NS up 11.5% at 401.50 rupees in debut trade vs IPO price of 360 rupees

** JUNI debuts at 1.4% premium of 365 rupees, has stayed above IPO price so far in session

** "Flat debut aligns with expectations as seen by muted investor enthusiasm and a lack of significant gray market premium" --Shivani Nyati, head of wealth at Swastika Investmart

** At session high, luxury hotel developer valued at 89.33 bln rupees ($1.08 bln)

** IPO comprised new shares issue worth up to 18 bln rupees was oversubscribed 2.08x last week

($1 = 82.9100 Indian rupees)

(Reporting by Rama Venkat in Bengaluru)

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

** Juniper Hotels' IPO oversubscribed 1.02 times by afternoon on final day of bids

** Investors bid for over 29.6 mln shares of luxury hotel developer vs 28.9 mln on offer - exchange data

** IPO has fresh issue of shares worth up to 18 bln rupees ($217.2 mln), with price band set at 342–360 rupees

** Investor interest has so far fetched bids worth 10.68 bln rupees at top-end of price range, way behind IPO size

** Juniper Hotels, a partnership between U.S.-based Hyatt Hotels H.N and India's Saraf Hotels, set to list on Feb. 28

** Loss for six months ended Sept. 30 widened to 265 mln rupees from 175.1 mln rupees despite revenue increasing 14.2%

** JM Financial, ICICI Securities among bookrunning lead managers

($1 = 82.8630 Indian rupees)

(Reporting by Rama Venkat in Bengaluru)

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