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Incorporated in 1992, Delhi based Lemon Tree Hotels is India's largest hotel chain in the mid-priced hotel sector, and the third largest overall, on the basis of controlling interest in owned and leased rooms, as of 30 June 2017.
The company operates in the mid-priced hotel sector and its hotels are located across India, in metro regions, including the NCR, Bengaluru, Hyderabad and Chennai, as well as tier I and tier II cities such as Pune, Ahmedabad, Chandigarh, Jaipur, Indore and Aurangabad.
As of 31 January 2018, it operated 4,697 rooms in 45 hotels (including managed hotels) across 28 cities in India. The company has created three brands in order to address these three hotel segments:
1. 'Lemon Tree Premier' which is targeted primarily at the upper-midscale hotel segment catering to business and leisure
guests who seek to use hotels at strategic locations and are willing to pay for premium service and hotel properties;
2. 'Lemon Tree Hotels' which is targeted primarily at the midscale hotel segment catering to business and leisure guests
and offers a comfortable, cost-effective and convenient experience; and
3. 'Red Fox by Lemon Tree Hotels' which is targeted primarily at the economy hotel segment.
As of July 31, 2017, the company have a portfolio of 19 owned hotels, three owned hotels located on leased or licensed land, five leased hotels and 13 managed hotels. It also has project design, management and development capabilities through its Subsidiary, Grey Fox Project Management Company Private Limited ("Grey Fox").
Lemon Tree employed 3,070 personnel as of July 31, 2017 across its owned and leased or licensed properties
| Particulars | For the year/period ended (in Rs. Million) | |||||
|---|---|---|---|---|---|---|
| 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | 31-Mar-13 | ||
| Total Assets | 13,602.13 | 13,112.89 | 12,965.17 | 12,937.17 | 12,156.79 | |
| Total Revenue | 2,237.65 | 1,945.47 | 2,242.02 | 1,947.84 | 1,453.82 | |
| Profit After Tax | 53.52 | (-163.36) | (-10.40) | 142.82 | (-203.44) | |
The objects of the Offer are to-
1. Achieve the benefits of listing the Equity Shares on the Stock Exchanges
2. Sale of up to 195,797,000 Equity Shares by the Selling Shareholders.
| IPO Date | Mar 26, 2018 to Mar 28, 2018 |
| Listing Date | Monday, April 9, 2018 |
| Face Value | ₹10 per share |
| Price | ₹54 to ₹56 per share |
| Lot Size | 265 Shares |
| Issue Size | 185,479,400 shares of ₹10 (aggregating up to ₹1,038.68 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Company Promoters | The Promoters of the Company are Mr. Patanjali Govind Keswani and SMSPL. The Promoters hold, in the aggregate, 184,784,311 Equity Shares which constitutes 23.49% of the Company's pre-Offer paid-up Equity Share capital. SMSPL was incorporated on November 5, 2004 and is primarily engaged in the business of designing, managing, supervising and executing hotel projects. Mr. Patanjali Govind Keswani is the natural person in control of SMSPL. |
Lemon Tree Hotels IPO opens on Mar 26, 2018, and closes on Mar 28, 2018. The Lemon Tree Hotels IPO bid date is from Mar 26, 2018 10.00 A.M. to Mar 28, 2018 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Tentative Date |
|---|---|
| Opening Date | Mar 26, 2018 |
| Closing Date | Mar 28, 2018 |
| Basis of Allotment | Apr 4, 2018 |
| Initiation of Refunds | Apr 5, 2018 |
| Credit of Shares to Demat | Apr 6, 2018 |
| Listing Date | Apr 9, 2018 |
The Lemon Tree Hotels IPO lot size is 265 shares. A retail-individual investor can apply for up to 13 lots (3445 shares or ₹192,920).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 265 | ₹14,840 |
| Retail (Max) | 13 | 3445 | ₹192,920 |
Company has turned the corner for the first nine months of the current fiscal. Although it has carried forward loses for past four years, their depreciated assets have appreciated and the projects completed in these periods have started contributing to top and bottom lines. Based on negative earnings so far, its P/E remains negative. Management is confident of maintaining its occupancy rate that is far better than industry average as India has emerged as the biggest market for such type of hotel chains. Its loyalty programme is continuously rising with "Lemon Tree Smiles". Considering all these aspects, cash surplus investors may consider investment for long term. Read detail review...
The Lemon Tree Hotels IPO is subscribed 1.19 times on Mar 28, 2018 5:00:00 PM. The public issue subscribed 0.12 times in the retail category, 3.88 times in the QIB category, and 0.12 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 3.88 |
| NII | 0.12 |
| Retail | 0.12 |
| Total | 1.19 |
| Listing Date | Monday, April 9, 2018 |
| BSE Script Code | 541233 |
| NSE Symbol | LEMONTREE |
| Listing In | B Group of Securities |
| ISIN | INE970X01018 |
| IPO Price | ₹56 per share |
| Face Value | ₹10 per share |
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KFin Technologies Limited
Phone: 04067162222, 04079611000
Email: lemontree.ipo@karvy.com
Website: https://karisma.kfintech.com/
| Review By | Subscribe | Neutral | Avoid |
|---|---|---|---|
| Brokers | 2 | 0 | 3 |
| Members | 0 | 0 | 0 |
IPO Broker Recommendations
Lemon Tree Hotels IPO is a main-board IPO of 185,479,400 equity shares of the face value of ₹10 aggregating up to ₹1,038.68 Crores. The issue is priced at ₹54 to ₹56 per share. The minimum order quantity is 265 Shares.
The IPO opens on Mar 26, 2018, and closes on Mar 28, 2018.
KFin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The Lemon Tree Hotels IPO opens on Mar 26, 2018 and closes on Mar 28, 2018.
Lemon Tree Hotels IPO lot size is 265 Shares and the minimum order quantity is .
You can apply in Lemon Tree Hotels IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Lemon Tree Hotels IPO will be done on Apr 4, 2018, and the allotted shares will be credited to your demat account by Apr 6, 2018. Check the Lemon Tree Hotels IPO allotment status.
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