There is good news for all the stock investors and the traders in share market as one of the biggest mid ranged sector hotels, Lemon Tree Hotels have opened its Initial Public Offerings (IPO) on March 26 of this year which will be closed on March 28. The price band ranges between Rs 54 to Rs 56 per equity share with a face value of Rs 10 each. The IPO also includes an offer for sale up to 18, 54, 79,400 equity shares of the firm, which is expected to launch in the BSE and NSE market.
Since the price per share is a bit high, it’s suitable for high-risk investors to purchase the share.
Lemon tree hotels have launched its business in 2002, and it is the largest hotel chain in India in the mid-priced hotel sector with an overall ranking of third on the basis of controlling interest in owned and leased rooms. Currently, it operates 4,697 rooms in 45 hotels (including managed hotels) across 28 cities in India.
As per a company source, Lemon tree hotels are into a risky business as it may slow down the economic growth of the nation, which could have an adverse effect on the company’s business in terms of operations and financial condition as the demand for consumers is highly based on the overall economic growth.