Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Capital Markets

Lemon Tree Hotels Ltd / Equity Capital Markets

<a href="https://www.smartkarma.com/entities/26159" target="_blank" data-smartkarma-citation="entities:26159:1">Lemon Tree Hotels Ltd (778410Z IN)</a> plans to raise US$160m in its IPO via a sell down of share by its financial investors, led by Warburg Pincus.We had covered the deal in our earlier write-up, <a href="https://www.smartkarma.com/insights/lemon-tree-hotels-pre-ipo-review-moving-up-the-value-chain-within-its-segment" target="_blank">Lemon Tree Hotels Pre-IPO Review - Moving up the Value Chain Within Its Segment</a>. In this insight, we will run the deal through our IPO framework, comments on updates since the last filing and compare the company's operations with some of its listed peers.

Lemon Tree Hotels Ltd (778410Z IN) plans to raise US$160m in its IPO via a sell down of share by its financial investors, led by Warburg Pincus.We had covered the deal in our earlier write-up, Lemon Tree Hotels Pre-IPO Review - Moving up the Value Chain Within Its Segment. In this insight, we will run the deal through our IPO framework, comments on updates since the last filing and compare the company's operations with some of its listed peers.

Lemon Tree Hotels IPO - A Lot to like but Valuation Isn't on the List

<a href="https://www.smartkarma.com/entities/26159" target="_blank" data-smartkarma-citation="entities:26159:1">Lemon Tree Hotels Ltd (778410Z IN)</a> (LTH) plans to raise up to US$180m in its IPO through a sale of 24.9% of the company's secondary shares. LTH is one of the largest players in the mid-priced hotel segment in India and has been one of the fastest growing as well, though it's still not been able to generate profits. The company has a robust pipeline which should aid future growth, however, it does seem to imply a shift towards upper-midscale and more managed rooms which seems to be a slight change in strategy. Then there is also the issue of related party transactions and lack of primary issuance despite rising leverage.

Lemon Tree Hotels Ltd (778410Z IN) (LTH) plans to raise up to US$180m in its IPO through a sale of 24.9% of the company's secondary shares. LTH is one of the largest players in the mid-priced hotel segment in India and has been one of the fastest growing as well, though it's still not been able to generate profits. The company has a robust pipeline which should aid future growth, however, it does seem to imply a shift towards upper-midscale and more managed rooms which seems to be a slight change in strategy. Then there is also the issue of related party transactions and lack of primary issuance despite rising leverage.

Lemon Tree Hotels Pre-IPO Review - Moving up the Value Chain Within Its Segment

India

Lemon Tree Hotels Limited owns and operates a chain of hotels and resorts. The Company offers room accommodations, resorts, transportation, swimming pools, on-site restaurants, meeting rooms, fitness gym, and spa facilities. Lemon Tree Hotels serves customers in India.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Lemon Tree Hotels Ltd (LEMONTRE IN)

Lemon Tree Hotels IPO - A Lot to like but Valuation Isn't on the List

Lemon Tree Hotels Ltd (778410Z IN) plans to raise US$160m in its IPO via a sell down of share by its financial investors, led by Warburg Pincus.We...

Sumeet Singh

Lemon Tree Hotels Pre-IPO Review - Moving up the Value Chain Within Its Segment

Lemon Tree Hotels Ltd (778410Z IN) (LTH) plans to raise up to US$180m in its IPO through a sale of 24.9% of the company's secondary shares. LTH is...

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)