Lemon Tree Hotels makes stock market debut, gets decent response

New Delhi: Lemon Tree Hotels, which recently concluded its initial public offer, made its stock market debut on both BSE and NSE on Monday day.

Lemon Tree listed at Rs 61.60 on the BSE, up at a 10 percent premium over the issue price of Rs 56. On the NSE, it got listed at the same price.

The IPO of the hotel chain was open during March 26-28. The segment meant for qualified institutional buyers (QIBs) was subscribed 3.89 times, non institutional investors 12 per cent and retail investors 12 per cent.

The companys IPO was of up to 185,479,400 shares (including anchor portion of 55,643,820 shares).

Lemon Tree Hotels has raised Rs 311 crore from anchor investors. Kotak Mahindra Capital, CLSA India and J P Morgan India were managing the issue.

With PTI Inputs