Lemon Tree Hotels, a group of fastest growing chain of hotels in India, has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to float its initial public offering (IPO). The public offer comprises sale of up to 195,797,000 equity shares by the existing shareholders. The company’s shares are proposed to be listed on the BSE and NSE.
The object of the Offer is to achieve the benefits of listing the Equity Shares on the Stock Exchanges. The book running lead managers to the issue are Kotak Mahindra Capital Company, CLSA India, JPMorgan and Yes Securities.
Lemon Tree Hotels is India’s largest hotel chain in the mid-priced segment and the third-largest overall by the number of owned and leased rooms. The company operates under 4 brands: Lemon Tree Premier (upscale), Lemon Tree Resorts (leisure), Lemon Tree Hotels (midscale) & Red Fox Hotels (economy).
