The entire issue by Lemon Tree Hotels consists of offer for sale by Maplewood Investment, RJ Corp, Ravi Kant Jaipuria and Sons (HUF), Whispering Resorts, Swift Builders, Five Star Hospitality Investment Limited, Palms International Investments Limited, Satish Chander Kohli and Raj Pal Gandhi.
Lemon Tree Hotels will open its initial public offering of 18,54,79,400 equity shares for subscription on March 26, with a price band at Rs 54-56 per share.
The entire issue consists of offer for sale by Maplewood Investment, RJ Corp, Ravi Kant Jaipuria and Sons (HUF), Whispering Resorts, Swift Builders, Five Star Hospitality Investment Limited, Palms International Investments Limited, Satish Chander Kohli and Raj Pal Gandhi.
The offer will constitute up to 23.59 percent of the post-offer paid-up equity share capital of the company.
The anchor investors' portion will open for bidding on Friday, March 23, one working day prior to the bid/offer opening date.
Bids can be made for a minimum lot of 265 equity shares and in multiples of 265 equity shares thereafter. The offer will close on March 28.
Equity shares are proposed to be listed on BSE and NSE. The global coordinators &book running lead managers to the issue are Kotak Mahindra Capital Company, CLSA India, JP Morgan India. The book running lead manager is YES Securities (India) Limited.