In the stock market debut on Monday, Lemon Tree Hotels shares jumped as high as Rs 73.90, nearly 30% higher than the IPO's issue price of Rs 56 a piece. Lemon Tree hotels shares closed not very far from the intraday high of Rs 73.90 as it closed at Rs 71.60, 28 percent higher than the issue price of Rs 56 during the initial public offering that closed on March 28. The Lemon Tree Hotels Initial public offering (IPO) was open for three days starting March 26 in the price band of Rs 54 and Rs 56.
The Lemon Tree Hotels shares opened at Rs 61.60 in the early morning on BSE on Monday on the first day of its listing. The scrip reached a high of Rs 73.90 and declined to a low of Rs 57.30. Even at its lowest point, the stock price stayed higher than its issue price of Rs 56. Overall, the financial markets did well on Monday as the market benchmark index Sensex closed 161 points higher at 33,788, while soared 48 points to settle at 10,379 points.
Lemon Tree Hotels opened its first hotel with 49 rooms in May 2004. It operated 4,697 rooms in 45 hotels (including managed hotels) across 28 cities in India as of January 31, 2018. The company seeks to cater to Indian middle class guests and deliver differentiated yet superior service offerings, with a value-for-money proposition. (Also Read: IPO Season Progresses: ICICI Securities IPO, Lemon Tree Hotels IPO, Bandhan Bank IPO)
In the first six months of the current financial year, Lemon Tree Hotels reported a net profit of Rs. 12.6 crore over total income of Rs. 174.3 crore.
At the time of its IPO, company had made a disclaimer that the price/earnings ratio based on diluted Earnings Per Share (EPS) on restated consolidated basis for FY17 for Lemon Tree Hotels is not measurable since the EPS is negative as compared to the average industry peer group Price-Earnings Ratio (PE) ratio of 90.6
In the stock market debut on Monday, Lemon Tree Hotels shares jumped as high as Rs 73.90, nearly 30% higher than the IPO's issue price of Rs 56 a piece. Lemon Tree hotels shares closed not very far from the intraday high of Rs 73.90 as it closed at Rs 71.60, 28 percent higher than the issue price of Rs 56 during the initial public offering that closed on March 28. The Lemon Tree Hotels Initial public offering (IPO) was open for three days starting March 26 in the price band of Rs 54 and Rs 56.
The Lemon Tree Hotels shares opened at Rs 61.60 in the early morning on BSE on Monday on the first day of its listing. The scrip reached a high of Rs 73.90 and declined to a low of Rs 57.30. Even at its lowest point, the stock price stayed higher than its issue price of Rs 56. Overall, the financial markets did well on Monday as the market benchmark index Sensex closed 161 points higher at 33,788, while soared 48 points to settle at 10,379 points.
Lemon Tree Hotels opened its first hotel with 49 rooms in May 2004. It operated 4,697 rooms in 45 hotels (including managed hotels) across 28 cities in India as of January 31, 2018. The company seeks to cater to Indian middle class guests and deliver differentiated yet superior service offerings, with a value-for-money proposition. (Also Read: IPO Season Progresses: ICICI Securities IPO, Lemon Tree Hotels IPO, Bandhan Bank IPO)
In the first six months of the current financial year, Lemon Tree Hotels reported a net profit of Rs. 12.6 crore over total income of Rs. 174.3 crore.
At the time of its IPO, company had made a disclaimer that the price/earnings ratio based on diluted Earnings Per Share (EPS) on restated consolidated basis for FY17 for Lemon Tree Hotels is not measurable since the EPS is negative as compared to the average industry peer group Price-Earnings Ratio (PE) ratio of 90.6
In the stock market debut on Monday, Lemon Tree Hotels shares jumped as high as Rs 73.90, nearly 30% higher than the IPO's issue price of Rs 56 a piece. Lemon Tree hotels shares closed not very far from the intraday high of Rs 73.90 as it closed at Rs 71.60, 28 percent higher than the issue price of Rs 56 during the initial public offering that closed on March 28. The Lemon Tree Hotels Initial public offering (IPO) was open for three days starting March 26 in the price band of Rs 54 and Rs 56.
The Lemon Tree Hotels shares opened at Rs 61.60 in the early morning on BSE on Monday on the first day of its listing. The scrip reached a high of Rs 73.90 and declined to a low of Rs 57.30. Even at its lowest point, the stock price stayed higher than its issue price of Rs 56. Overall, the financial markets did well on Monday as the market benchmark index Sensex closed 161 points higher at 33,788, while soared 48 points to settle at 10,379 points.
Lemon Tree Hotels opened its first hotel with 49 rooms in May 2004. It operated 4,697 rooms in 45 hotels (including managed hotels) across 28 cities in India as of January 31, 2018. The company seeks to cater to Indian middle class guests and deliver differentiated yet superior service offerings, with a value-for-money proposition. (Also Read: IPO Season Progresses: ICICI Securities IPO, Lemon Tree Hotels IPO, Bandhan Bank IPO)
In the first six months of the current financial year, Lemon Tree Hotels reported a net profit of Rs. 12.6 crore over total income of Rs. 174.3 crore.
At the time of its IPO, company had made a disclaimer that the price/earnings ratio based on diluted Earnings Per Share (EPS) on restated consolidated basis for FY17 for Lemon Tree Hotels is not measurable since the EPS is negative as compared to the average industry peer group Price-Earnings Ratio (PE) ratio of 90.6
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