External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Juniper reported a 6.9%/17.7 QoQ/YoY growth, with ARR increasing to Rs 11,714 (+6.7% YoY) and occupancy reaching 75% during the quarter.</li><li>However, certain key rooms that were out of service were restored early during the quarter, so the like-to-like occupancy rate would then be 77%.</li><li>The luxury and upper upscale/upper segment reported RevPAR growth rates of 6% and 7% YoY, respectively. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Juniper reported a 6.9%/17.7 QoQ/YoY growth, with ARR increasing to Rs 11,714 (+6.7% YoY) and occupancy reaching 75% during the quarter.However, certain key rooms that were out of service were restored early during the quarter, so the like-to-like occupancy rate would then be 77%.The luxury and upper upscale/upper segment reported RevPAR growth rates of 6% and 7% YoY, respectively. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Juniper Hotel Ltd - Expansion Fuels Juniper’s Momentum

<ul><li>Juniper reported a 27.3% YoY growth, with ARR increasing to Rs 9,879 (+3.8% YoY) and occupancy reaching 71% during the quarter.</li><li>However, due to certain key rooms being out of service, the like-to-like occupancy rate was 77%.</li><li>The upper upscale and upper segment reported RevPAR growth rates of 3% and 10% and 6% YoY, respectively. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Juniper reported a 27.3% YoY growth, with ARR increasing to Rs 9,879 (+3.8% YoY) and occupancy reaching 71% during the quarter.However, due to certain key rooms being out of service, the like-to-like occupancy rate was 77%.The upper upscale and upper segment reported RevPAR growth rates of 3% and 10% and 6% YoY, respectively. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Juniper Hotel Ltd - Riding the Upcycle; Maintain Buy

<ul><li>Value-unlocking Initiatives: Juniper Hotel Ltd. recently announced a strategic acquisition of a five-star hotel near Bangalore Airport from M/s. Twenty Fourteen Hotels India Private Limited, as per its August 30, 2024 press release.</li><li>The property, formerly branded by Marriott, offers 220 keys on a 6.5-acre site.</li><li>The transaction, estimated to range between Rs 250-300 Cr, will be financed through a combination of debt and internal accruals. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Value-unlocking Initiatives: Juniper Hotel Ltd. recently announced a strategic acquisition of a five-star hotel near Bangalore Airport from M/s. Twenty Fourteen Hotels India Private Limited, as per its August 30, 2024 press release.The property, formerly branded by Marriott, offers 220 keys on a 6.5-acre site.The transaction, estimated to range between Rs 250-300 Cr, will be financed through a combination of debt and internal accruals. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Juniper Hotels Ltd - Expansion of Portfolio Through Brownfield Acquisitions

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Nimish Maheshwari

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Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/itc-ltd" target="_blank" data-smartkarma-citation="entities:327:1" rel="noopener">ITC Ltd (ITC IN)</a> Hotels demerger aims to unlock the intrinsic value of the hotels business and enable a sharper focus on growth.</li>
<li>ITC Hotels is aiming to reach a portfolio of 200+ hotels with 18,000+ keys by 2030 from a robust pipeline of 140 Hotels with about 13000 Keys in 2024.</li>
<li>ITC Hotels inheriting a strong balance sheet with zero debt and cash reserves may list around 113-170 per share.</li>
</ul>



ITC Ltd (ITC IN) Hotels demerger aims to unlock the intrinsic value of the hotels business and enable a sharper focus on growth.
ITC Hotels is aiming to reach a portfolio of 200+ hotels with 18,000+ keys by 2030 from a robust pipeline of 140 Hotels with about 13000 Keys in 2024.
ITC Hotels inheriting a strong balance sheet with zero debt and cash reserves may list around 113-170 per share.


ITC Hotels Demerger: An Emerging Behemoth & Hospitality Play

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Ventive Hospitality Ltd / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/ventive-hospitality-ltd" target="_blank" data-smartkarma-citation="entities:43933:1" rel="noopener">Ventive Hospitality Ltd (0807075D IN)</a> is looking to raise about US$188m in its India IPO. The deal, a fresh issue of shares, is downsized from an earlier size of ~US$240m.</li>
<li>Ventive Hospitality Limited (VHL) is the largest hospitality asset owner amongst public listed market peers, focused primarily on luxury offerings across business and leisure in India and Maldives.</li>
<li>We have looked at the company’s past performance in our previous notes. In this note, we will talk about the IPO valuations.</li>
</ul>



Ventive Hospitality Ltd (0807075D IN) is looking to raise about US$188m in its India IPO. The deal, a fresh issue of shares, is downsized from an earlier size of ~US$240m.
Ventive Hospitality Limited (VHL) is the largest hospitality asset owner amongst public listed market peers, focused primarily on luxury offerings across business and leisure in India and Maldives.
We have looked at the company’s past performance in our previous notes. In this note, we will talk about the IPO valuations.


Ventive Hospitality IPO - Quick Thoughts on Peer Comp and Valuation

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Juniper Hotels (6593708Z IN)

Juniper Hotel Ltd - Expansion Fuels Juniper’s Momentum

Juniper reported a 6.9%/17.7 QoQ/YoY growth, with ARR increasing to Rs 11,714 (+6.7% YoY) and occupancy reaching 75% during the quarter.

Axis Direct

Juniper Hotel Ltd - Riding the Upcycle; Maintain Buy

Juniper reported a 27.3% YoY growth, with ARR increasing to Rs 9,879 (+3.8% YoY) and occupancy reaching 71% during the quarter.

Axis Direct

Juniper Hotels Ltd - Expansion of Portfolio Through Brownfield Acquisitions

Juniper Hotel Ltd. recently announced a strategic acquisition of a five-star hotel near Bangalore Airport from M/s. Twenty Fourteen Hotels India...

Axis Direct

ITC Hotels Demerger: An Emerging Behemoth & Hospitality Play

ITC Hotels Limited(ITCHL) has informed us today that ITCHL has received approval from the NSE and BSE for listing and trading of its equity shares...

Nimish Maheshwari

Ventive Hospitality IPO - Quick Thoughts on Peer Comp and Valuation

Ventive Hospitality is looking to raise about US$188m in its India IPO. In this note, we will undertake a quick peer comparison and talk about the...

Akshat Shah

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52-week Range

Market Cap (USDm)

P/E

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