RJ Corp has sold 1.1 crore shares or approximately 1.4 per cent stake of Lemon Tree Hotels in an open market transaction. The shares were offloaded at an average price of Rs 60.01 apeice, which took the total deal value to Rs 66.01 crore. At the end of the September 2019 quarter, RJ Corp is a public shareholder of the company and held 5.48 per cent stake.
Lemon Tree Hotels is India’s largest hotel chain in the mid-priced hotel sector, and the third largest overall, on the basis of controlling interest in owned and leased rooms, as of June 30, 2017.
