“Lemon Tree Hotels has shortlisted domestic investment bank Kotak Mahindra Capital Co. Ltd as the left lead for its initial share sale. The development comes almost a year after Lemon Tree first initiated discussions with investment banks on a public listing. The fund did not comment on the Lemon Tree IPO too. “We have no comments to offer at this stage,” said Rattan Keswani, deputy managing director at Lemon Tree Hotels in an email response. The proposed Lemon Tree IPO will see Warburg sell part of its stake through an offer for sale, said the second person cited above, also requesting anonymity.

Source: Mint May 05, 2017 07:52 UTC