By Vivek K. Mobile: 09920183006 Email:firstname.lastname@example.org
Lemon Tree Hotels Limited (the “Company” or the “Issuer”) has finalized the allocation of 55,643,820 Equity Shares at Rs. 56 (upper end) per Equity Share aggregating to Rs. 311 crore to 16 anchor investors.
The anchor list include:- SBI MAGNUM MONTHLY INCOME PLAN- 3.85% , SBI MAGNUM MULTIPLIER FUND-6.42%, SBI MAGNUM BALANCED FUND-10.55%, NS PARTNERS TRUST-3.21%,VANTAGETRUST III MASTER COLLECTIVE INVESTMENT FUNDS TRUST-5.12%,MIRAE ASSET INDIA SOLOMON EQUITY INVESTMENT TRUST 1-1.60%,MIRAE ASSET INDIA SECTOR LEADER EQUITY FUND-3.61%,INDUS INDIA FUND (MAURITIUS) LIMITED-3.75%, INDUS INDIA FUND (SV) LIMITED-2.50%, RBC ASIA PACIFIC EX-JAPAN EQUITY FUND-5.20%, LGT SELECT FUNDS – LGT SELECT EQUITY EMERGING MARKETS-3.21%, DB INTERNATIONAL (ASIA) LTD-12.61%, GEMEQUITY-3.21%, DORIC ASIA PACIFIC SMALL CAP (MAURITIUS) LIMITED-3.21%, NEW YORK STATE COMMON RETIREMENT FUND-3.21%, ABERDEEN ASIAN SMALLER COMPANIES INVESTMENT TRUST PLC-7.29%, ALPINE GLOBAL PREMIER PROPERTIES FUND-5.20%, ZAABA PAN ASIA MASTER FUND-2.08%, HDFC SMALL CAP FUND-8.33%, BNP PARIBAS ARBITRAGE-5.83%
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 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 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 being offered through the RHP are proposed to be listed on BSE and NSE.
Lemon Tree Hotels Limited is proposing, subject to statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, an initial public offering of its Equity Shares and has filed the Red Herring Prospectus dated March 14, 2018 (“RHP”) with the Registrar of Companies, National Capital Territory of Delhi and Haryana. 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 at http://www.investmentbank.kotak.com, www.india.clsa.comwww.jpmipl.com and www.yesinvest.in, respectively.Any potential investor should note that investment in Equity Shares involves a high degree of risk. For details, potential investors should refer to the section titled “Risk Factors” on page 16 of the RHP.The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, amended (“U.S. Securities Act”) or any state securities laws in the United States, and unless so registered may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, such Equity Shares are being offered and sold (i) outside of the United States in offshore transactions in reliance on Regulation S under the U.S. Securities Act and the applicable laws of thejurisdiction where those offers and sales occur; and (ii) to “qualified institutional buyers” (as defined in Rule 144A under the U.S. Securities Act), pursuant to the private placement exemption set out in Section 4(a) of the U.S.