Lemon Tree Hotels IPO opens today Monday March 26,2018

As the initial public offer (IPO) of hospitality chain company Lemon Tree Hotels Ltd opens on Monday March 26,2018, analysts said that valuations of Lemon Tree Hotels Ltd are high given it is into risky business

IPO Details

• Lemon Tree initial public offer consists of an offer for sale of up to 18,54,79,400 shares of face value of Rs 10 each by the selling shareholders.
• At the higher end of the price band, the issue will amount to Rs 1002-1039 crore. 
• The offer for sale is being done by some of its pre-issue investors and promoters. 
• As it’s a complete offer for sale, Lemon Tree will not receive any proceeds from the issue.
•  The company has set a price band of Rs 54-56 for its issue. 
• Bids can be made in lots of 265 equity shares and in multiples thereafter. 
• Lemon Tree IPO will remain open from 26-28th March 2018

Started in 2002, Lemon Tree Hotels is India’s largest hotel chain in the mid-priced hotel sector and the third-largest overall, on the basis of controlling interest in owned and leased rooms. As of 31 January 2018, it operates 4,697 rooms in 45 hotels (including managed hotels) across 28 cities in India.