Lemon Tree Hotels Lists 10 percent Premium on Market Debut
Lemon Tree Hotels listed to make its market debut today opened on a decent note with a script listing of Rs.61.60 on the BSE, accounting for 10 percent premium over the issue price of Rs.56.
As per data from National Stock Exchange (NSE), initial public offering (IPO) received bids for 15.49 crore shares and was subscribed over 1.19 times from a period extending 26 March 2018 to 28 March 2018. The price spectrum for the stocks was fixed at Rs. 56 per share.
This hospitality chain and hotel group are considered to be India's largest chain in the mid-priced sector within hotel market while it is third largest overall. Lemon Tree hotels have already raised 311 crores from anchor investors.
The public issue is being raised to achieve the benefits of equity share on stock exchanges. ...