India’s mid range Hotel Company Lemon Tree Hotels plans to raise Rs 1,040 crore via its initial public offer (IPO) starting March 26, 2018.Published on : Friday, March 23, 2018
India’s mid range Hotel Company Lemon Tree Hotels plans to raise Rs 1,040 crore via its initial public offer (IPO) starting March 26, 2018.
Lemon Tree Hotels is backed by buyout firm Warburg Pincus and Dutch pension fund APG, has fixed the IPO price band at Rs 54-Rs 56 per share. The issue will close on March 28.
Lemon Tree Hotels’ public offer comprises the sale of up to 185,479,400 equity shares by the existing shareholders, including Maplewood, Whispering Resorts, Palms International and RJ Corp.
According to the draft red herring prospectus, promoters of Lemon Tree Hotels hold 31.11 per cent stake and private equity investors and other non-promoter share holders hold 68.89 per cent stake in Lemon Tree Hotels.
Lemon Tree Hotels said that their company expects in listing of the equity shares will increase their visibility and brand image which provide the liquidity to the share holders.
Lemon Tree is currently the leader in terms of controlling interest in owned and leased rooms has operations spread across the value chain and range from acquiring land to owning, leasing, developing, managing and marketing hotels.
Tags: APG, Hotel, India, Lemon Tree, marketing hotels