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Last Updated : Mar 24, 2018 06:38 PM IST | Source:

Lemon Tree Hotels receives Rs 311 cr from anchor investors

These investors subscribed shares at higher end of price band of Rs 54-56 per share.

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Lemon Tree Hotels has garnered Rs 311.60 crore from anchor investors on Friday, one trading day before the issue opens.

The hotel chain company has finalised allocation of 55,643,820 equity shares to 16 anchor investors which include SBI MF, NS Partners Trust, Mirae Asset Management, Vantagetrust, Indus India Fund, RBC, DB International, Gemequity, Doric, New York State Common Retirement Fund, Zaaba Alpine, HDFC MF and BNP Paribas.

These investors subscribed shares at higher end of price band of Rs 54-56 per share.

Lemon Tree Hotels will open its initial public offering of 18,54,79,400 equity shares for subscription on March 26.

The entire issue consists of offer for sale by Maplewood Investment, RJ Corp, Ravi Kant Jaipuria and Sons (HUF), Whispering Resorts, Swift Builders, Five Star Hospitality Investment Limited, Palms International Investments Limited, Satish Chander Kohli and Raj Pal Gandhi.


The offer will constitute up to 23.59 percent of the post-offer paid-up equity share capital of the company.

Bids can be made for a minimum lot of 265 equity shares and in multiples of 265 equity shares thereafter. The offer will close on March 28.

Equity shares are proposed to be listed on BSE and NSE. The global coordinators &book running lead managers to the issue are Kotak Mahindra Capital Company, CLSA India, JP Morgan India. The book running lead manager is YES Securities (India) Limited.
First Published on Mar 24, 2018 02:36 pm
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