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Mar 26, 2018 07:56 PM IST | Source: PTI

Lemon Tree Hotels IPO subscribed 25% on Day 1 of bidding

The IPO to raise Rs 1,038.68 crore received bids for 3,26,06,395 shares against the total issue size of 12,98,35,580 shares, the NSE data showed.

The initial public offer of hospitality chain Lemon Tree Hotels was subscribed 25 per cent on the first day of the three-day bidding today.

The IPO to raise Rs 1,038.68 crore received bids for 3,26,06,395 shares against the total issue size of 12,98,35,580 shares, the NSE data showed.

The Qualified Institutional Buyers (QIBs) portion was subscribed 82 per cent, non institutional investors - 3 per cent and retail investors - 2 per cent.

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

The offer is in a price band of Rs 54-56 and would close on March 28.

Lemon Tree Hotels has raised Rs 311 crore from anchor investors.

The company's shares are proposed to be listed on BSE and the National Stock Exchange.
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