Lemon Tree Hotels to make stock market debut on April 9
Hospitality chain Lemon Tree Hotels is set to debut on bourses on April 9, 2018 after successful subscription.
The company in consultation with merchant bankers has fixed final issue price at Rs 56 per share.
The public issue was subscribed 1.19 times during March 26-28, 2018.
The Rs 1,038.68 IPO has received bids for 15.49 crore shares against the total issue size of 12,98,35,580 shares.
The segment reserved for qualified institutional buyers (QIBs) was subscribed 3.89 times while non-institutional investors and retail investors subscribed 12 percent each.
The company’s IPO is of up to 185,479,400 shares (including anchor portion of 55,643,820 shares). Price band for the issue was at Rs 54-56 per share.
Lemon Tree Hotels had raised Rs 311 crore from anchor investors.