Lemon Tree Hotels gains on executing SPA with APG Strategic Real Estate Pool N.V, Fleur
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Lemon Tree Hotels is currently trading at Rs. 74.75, up by 0.20 points or 0.27% from its previous closing of Rs. 74.55 on the BSE.
The scrip opened at Rs. 74.60 and has touched a high and low of Rs. 75.25 and Rs. 74.40 respectively. So far 63630 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 103.30 on 01-Dec-2022 and a 52 week low of Rs. 45.30 on 24-Feb-2022.
Last one week high and low of the scrip stood at Rs. 79.05 and Rs. 73.10 respectively. The current market cap of the company is Rs. 5914.12 crore.
The promoters holding in the company stood at 23.61%, while Institutions and Non-Institutions held 36.94% and 39.45% respectively.
Lemon Tree Hotels has executed Securities Purchase Agreement (SPA) with APG Strategic Real Estate Pool N.V and Fleur Hotels (Fleur) to acquire Compulsorily Convertible Preference Shares (CCPS) of Fleur Hotels from the APG Strategic Real Estate Pool N.V, existing shareholder. In terms of SPA, the company shall complete the acquisition of CCPS within 30 days from the date of execution of SPA.
Lemon Tree Hotels is India’s largest hotel chain in the mid-priced hotel sector, and the third largest overall, on the basis of controlling interest in owned and leased rooms.
