Lemon Tree Hotels IPO details and application process

The IPO of Lemon Tree Hotels opens on 26 March and closes on 28 March. The company is offering shares in the price band of Rs 54-56. At the upper end of the price band the company intends to raise Rs 1,040 crore.

About the company
Lemon Tree Hotels (LTH) is India’s largest chain in the mid-priced hotels sector and third largest overall, on the basis of controlling interest in owned and leased rooms, as of June 30, 2017, according to the Horwath Report. As of January 31, 2018 the company operates 45 hotels in 28 cities with 4697 rooms and over 5000 employees.

The company offers services through its 3 brands
Lemon Tree Premier is targeted towards the Upper Midscale business and leisure hotels,
Lemon Tree Hotels is targeted towards Midscale business and leisure hotels and Red Fox by Lemon Tree Hotels offers Economy hotels.

Purpose of the issue
To achieve the benefits of listing the equity shares on the stock exchanges.

Issue details
The issue consists entirely of an offer for sales (OFS) of 18,54,79,400 equity shares with face value of Rs 10. Draft Red Herring Prospectus.

IPO schedule
Issue opens - March 26th
Issue close - March 28th
Issue size - ₹ 1040 crores at the upper end of the price band.
Listing on both NSE and BSE
Retail portion - 35%
Bid lot - 265 shares

Basis of allotment - 04 April
Refunds - 05 April
Credit of shares - 06 April
Listing - 09 April

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