Shares of Lemon Tree Hotels will make their debut at the bourses on Monday, the BSE and the NSE said. The ₹1,038.68-crore initial public offering of Lemon Tree Hotels was subscribed 1.19 times last week.
The IPO had received bids for 15.487 crore shares against the total issue size of 12.983 crore shares. The hospitality major had fixed the price band for the issue at ₹54-56 and fixed the issue price at ₹56. Ahead of the IPO, it raised ₹311 crore from anchor investors.
Through the IPO, it had provided an exit to some of its investors, including Maplewood (part of Warburg Pincus), RJ Corp, Whispering Resorts and Swift Builders. Our Bureau