Mumbai: Hospitality chain Lemon Tree Hotels' Rs 1,040 crore initial public offer (IPO) will open on Monday. Lemon Tree, 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.
Here is all you need to know about the IPO.
- Lemon Tree has fixed price band between Rs 54 and Rs 56 per equity share for its initial public offer to raise around Rs 1,040 crore.
- Lemon Tree Hotels' public offer comprises sale of up to 185,479,400 equity shares by the existing shareholders.
- This includes Maplewood, Whispering Resorts, Palms International and RJ Corp.
- The issue, that will open on March 26, will close on March 28.
- Kotak Mahindra Capital Company, CLSA India, JP Morgan India and Yes Securities will manage the company's public issue.
- The equity shares are proposed to be listed on the BSE and the National Stock Exchange.
- The company has 45 hotels with 4,4,700 rooms in 28 cities.
- It has a portfolio of 19 owned-hotels, three owned-hotels are located on leased or licensed land, five leased hotels and 18 managed hotels.
- Founded in 2002 by Patu Keswani, the company has hotels under three brands - Lemon Tree Premier, which is an upscale brand; Lemon Tree Resorts, a leisure segment brand; Lemon Tree Hotels, a midscale brand and the economy brand Red Fox Hotels.