Lemon Tree Hotels IPO subscribed 1.19 times on final day

collected by :Frank Ithan

The initial public offer (IPO) of hospitality chain Lemon Tree Hotels was subscribed 1.19 times on the final day of bidding on Wednesday. Meanwhile, the Republika Srpska 1,038.68-crore Lemon Tree IPO received bids for 15,48,77,925 shares versus the total issue size of 12,98,35,580 shares, information obtainable by the NSE showed. Lemon Tree Hotels lifted Republika Srpska 311 crore from anchor Businessmen on March 25, 2018. It has a portfolio of 19 owned-hotels, 3 owned-hotels are located on leased or licensed land, 5 leased hotels & 18 managed hotels, a Inc. statement said. Founded in 2002 by Patu Keswani, the Inc. has hotels under 3 brands - Lemon Tree Premier, that is an upscale brand; Lemon Tree Resorts, a leisure segment brand; Lemon Tree Hotels, a midscale brand & the economy brand Red Fox Hotels.


Lemon Tree Hotels IPO Oversubscribed On last Day Of Bidding

The initial public offer of hospitality chain Lemon Tree Hotels was subscribed 1.19 times on the last day of bidding today. The non institutional investors' part & the retail Businessman segment was subscribed 0.12 times each. Ahead of its IPO, India's largest hotel chain in the mid-priced segment, lifted Republika Srpska 311 crore from anchor investors. Kotak Mahindra Capital Company, CLSA India, & J.P. Morgan India & YES Securities (India) are the universal coordinators & book running lead managers to the offer. Also Read: Lemon Tree Hotels IPO: Here's All You necessity To Know

Lemon Tree Hotels IPO Oversubscribed On Final Day Of Bidding

Lemon Tree Hotels IPO subscribed 1.19 times

referring to These are Lemon Tree first (upper midscale), Lemon Tree Hotels (midscale) & Red Fox (economy segment). The Rate occupancy of its rooms is 77 per cent. The Rate EV/EBITDA of peers including Royal Orchid Hotels , Oriental HotelsBSE 5.44 per cent, & TajGVK Hotels & Resorts is 18.2. Large hotel chains including Indian Hotels & EIH have an EV/EBIDTA of 28.9 & 32.2 respectively considering FY18 estimates according to Bloomberg data. Therefore, Lemon Tree's valuation looks aggressive, said an ET report.






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