Rs 311 cr raised from anchor investors by Lemon Tree Hotels
Mar. 25, 2018
Lemon Tree Hotels has raised Rs 311 cr from anchor investors, ahead of its initial share-sale tomorrow.It allotted 5,56,43,820 shares to 18 anchor investors at a price of Rs 56/scrip, for Rs 311.61 cr. Price band for IPO,which closes on Mar'28,is fixed at Rs 54-56/ equity share.At the upper end of price band, the issue will raise Rs 1,038.68 cr.Lemon Tree Hotels' IPO comprises sale of up to 18,54,79,400 equity shares by the existing shareholders.