Lemon Tree Hotels debuts with 10% premium over issue price
09/04/2018
Shares of Lemon Tree Hotels Ltd were listed on the bourses at a 10 per cent premium over its issue price on Monday after its Rs. 1,039 crore initial public offering (IPO) was subscribed 119 per cent during share sale that closed on 28 March, said the media reports. Lemon Tree listed at Rs 61.60 per share on the National Stock Exchange, compared to its issue price of Rs 56. The stock rose as much as 16.1 percent to Rs 65 thereafter. Founded by Patanjali Govind Keswani in 2002, Lemon Tree operates under three brands associated with different hotel segments: the upper-mid-scale category called Lemon Tree Premier, mid-scale segment Lemon Tree Hotels, and economy hotels under Red Fox.
09/04/2018
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Shares of Lemon Tree Hotels Ltd were listed on the bourses at a 10 per cent premium over its issue price on Monday after its Rs. 1,039 crore initial public offering (IPO) was subscribed 119 per cent during share sale that closed on 28 March, said the media reports. Lemon Tree listed at Rs 61.60 per share on the National Stock Exchange, compared to its issue price of Rs 56. The stock rose as much as 16.1 percent to Rs 65 thereafter. Founded by Patanjali Govind Keswani in 2002, Lemon Tree operates under three brands associated with different hotel segments: the upper-mid-scale category called Lemon Tree Premier, mid-scale segment Lemon Tree Hotels, and economy hotels under Red Fox.
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