Lemon Tree Hotels, initial public offering (IPO) opens for subscription today on March 26,2018 and the issue will close on March 28,2018.

The company aims to raise Rs.1,001.6-1,038.7 crore through the issue. The company has fixed the price band of Rs.54-56 per share. The issue consists of an offer for sale of 18,54,79,400 equity shares by Maplewood Investment, RJ Corp, Ravi Kant Jaipuria and Sons (HUF), Whispering Resorts, Swift Builders, Five Star Hospitality Investment Limited, Palms International Investments Limited, Satish Chander Kohli and Raj Pal Gandhi.

The offer constitutes up to 23.59% of the post-offer paid-up equity share capital of the company. Bids can be made for a minimum lot of 265 equity shares and in multiples of 265 equity shares thereafter.

Furthermore, as the issue is totally an offer for sale issue, the company will not get any proceeds from the offer and the entire proceeds will go the selling shareholders.

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