Lemon Tree Hotels Limited: Initial Public Offer/ Bid/ Offer Period to open on March 26, 2018* and to close on March 28, 2018 With Price Band: Rs. 54 to Rs.56 per equity share each of face value Rs.10

MUMBAI -:From Left - Mr. V Jayasankar (Kotak Mahindra Capital Company Ltd), Mr. Vineet Ranjan (Director Strategic Initiatives & Transformation) Lemon Tree Hotels Ltd, Mr. Kapil Sharma (Chief Financial Officer) Lemon Tree Hotels Ltd, Mr. Patanjali Keswani (Chairman & MD) Lemon Tree Hotels Ltd, Mr. Pankaj Agrawal (CSLA India Private Ltd), Mr. Kaustubh Kulkarni (J. P. Morgan) and Mr. Jayesh Shah (Yes Securities (India) Ltd) at Lemon Tree Hotels Limited IPO Press Conference held in Mumbai today.-Photo By Sachin MurdeshwarMUMBAI -:From Left - Mr. V Jayasankar (Kotak Mahindra Capital Company Ltd), Mr. Vineet Ranjan (Director Strategic Initiatives & Transformation) Lemon Tree Hotels Ltd, Mr. Kapil Sharma (Chief Financial Officer) Lemon Tree Hotels Ltd, Mr. Patanjali Keswani (Chairman & MD) Lemon Tree Hotels Ltd, Mr. Pankaj Agrawal (CSLA India Private Ltd), Mr. Kaustubh Kulkarni (J. P. Morgan) and Mr. Jayesh Shah (Yes Securities (India) Ltd) at Lemon Tree Hotels Limited IPO Press Conference held in Mumbai today.-Photo By Sachin Murdeshwar
Mr. Patanjali Keswani (Chairman & MD) Lemon Tree Hotels Ltd while addressing the media during the Lemon Tree Hotels Limited IPO Press Conference held in Mumbai today.- Photo By Sachin Murdeshwar

Mr. Patanjali Keswani (Chairman & MD) Lemon Tree Hotels Ltd while addressing the media during the Lemon Tree Hotels Limited IPO Press Conference held in Mumbai today.- Photo By Sachin Murdeshwar.

MUMBAI : Mr. Kapil Sharma (Chief Financial Officer) Lemon Tree Hotels Ltd and Mr. Patanjali Keswani (Chairman & MD) Lemon Tree Hotels Ltd at Lemon Tree Hotels Limited IPO Press Conference held in Mumbai today.-Photo By Sachin Murdeshwar

MUMBAI : Mr. Kapil Sharma (Chief Financial Officer) Lemon Tree Hotels Ltd and Mr. Patanjali Keswani (Chairman & MD) Lemon Tree Hotels Ltd at Lemon Tree Hotels Limited IPO Press Conference held in Mumbai today.-Photo By Sachin Murdeshwar

The Floor Price is 5.4 times of the Face Value and the Cap Price is 5.6 times of the Face Value. Bid can be made for a minimum of 265 Equity Shares and in multiples of 265 Equity Shares thereafter.

·         Offer for sale of up to 185,479,400 Equity Shares aggregating up to  `[●] million

·         Bid/Offer Opening Date – March 26, 2018* and Bid/Offer Closing Date – March 28, 2018.

Mumbai, March 19, 2018 (GPN) : Lemon Tree Hotels Limited (the “Company”) proposes to open on Monday, March 26, 2018 ,an initial public offering of Equity Shares of upto 185,479,400 equity shares of face value of Rs. 10  of Lemon Tree Hotels Limited for cash at a price of Rs. [] per equity share aggregating up to Rs. [] million through an offer for sale of up to 94,500,053 equity shares aggregating to Rs. [] million by Maplewood Investment Ltd (“Maplewood”), up to 25,320,584 equity shares aggregating to [] million by RJ Corp Limited, up to 13,999,416 equity shares aggregating to [] million by Ravi Kant Jaipuria and Sons (HUF), up to 6,986,180 equity shares aggregating to Rs. [] million by Whispering Resorts Private Limited, up to 883,440 equity shares aggregating to Rs. [] million Swift Builders Limited, up to 23,649,816 equity shares aggregating to Rs. [] million by Five Star Hospitality Investment Limited, up to 19,159,911 equity shares aggregating to Rs. [] million by Palms International Investments Limited, up to  480,000 equity shares aggregating to Rs. [] million by Mr. Satish Chander Kohli and up to 500,000 equity shares aggregating to Rs. [] million by Mr. Raj Pal Gandhi. The Offer shall constitute up to 23.59% of the post-Offer paid-up Equity Share capital of the Company. The Company and Maplewood may, in consultation with the Global Co-Ordinators and Book Running Lead Managers and the Book Running Lead Manager, consider participation by Anchor Investors. The Anchor Investors shall Bid during the Anchor Investor Bidding Date, i.e., one Working Day prior to the Bid/Offer Opening Date.

The Price Band has been fixed from Rs. 54 to Rs. 56 per Equity Share. Bids can be made for a minimum lot of 265 Equity Shares and in multiples of 265 Equity Shares thereafter.

The Bid/Offer Period will close on Wednesday, March 28, 2018.

The Equity Shares being offered through the RHP are proposed to be listed on BSE and NSE.

The Global Coordinators &Book Running Lead Managers (“GBRLMs”) to the Offer are Kotak Mahindra Capital Company Limited, CLSA India Private Limited, J.P. Morgan India Private Limited. The Book Running Lead Managers (“BRLMs”) to the Offer is YES Securities (India) Limited.

The Offer is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended (the “SCRR”). It is being made in accordance with Regulation 26(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended (the “SEBI ICDR Regulations”) through the Book Building Process, wherein not more than 50% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (the “QIB Category”), provided that the Company and Maplewood, in consultation with the GCBRLMs and the BRLM, may allocate up to 60% of the QIB Category to Anchor Investors (the “Anchor Investor Portion”) on a discretionary basis. One-third of the Anchor Investor Portion shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the price at which allocation is made to Anchor Investors, which price shall be determined by the Company and Maplewood in consultation with the GCBRLMs and the BRLM. 5% of the QIB Category (excluding the Anchor Investor Portion) shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Category shall be available for allocation on a proportionate basis to all QIB Bidders (other than Anchor Investors), including Mutual Funds, subject to valid Bids being received at or above the Offer Price. Further, not less than 15% of the Offer shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Offer shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All potential Bidders, other than Anchor Investors, shall mandatorily participate in the Offer through the Application Supported by Blocked Amount (“ASBA”) process by providing details of their respective bank account in which the Bid Amount will be blocked by the Self Certified Syndicate Banks (“SCSBs”). Anchor Investors are not permitted to participate in the Anchor Investor Portion through ASBA process. For details, see the section titled “Offer Procedure” on page 555 of the RHP.

The Offer will constitute up to 23.59% of the Post-Offer paid-up Equity Share capital of the Company.

Kotak Mahindra Capital Company Limited, CLSA India Private Limited and J.P. Morgan India Private Limited are the Global Co-ordinators and Book Running Lead Managers and Yes Securities (India) Limited is the Book Running Lead Manager to the Offer. The Registrar to the Issue Offer is Karvy Computershare Private Limited.

The Equity Shares of Lemon Tree Hotels Limited are proposed to be listed on NSE and BSE.

All capitalised terms used herein and not specifically defined shall have the same meaning as ascribed to them in the RHP.ENDS

The RHP shallbe available on the website of the SEBI at www.sebi.gov.in, BSE atwww.bseindia.com, NSE at www.nseindia.com and is available on the websites of the GCBRLMs and BRLM athttp://www.investmentbank.kotak.com,www.india.clsa.com www.jpmipl.com andwww.yesinvest.in, respectively.

About the Author

Sachin Murdeshwar
Sachin Murdeshwar is a Sr.Journalist and Columnist in several Mainline Newspapers and Portals.He is an ardent traveller and likes to explore destinations to the core.