Lemon Tree Hotels rises on getting nod to pick up 25.10% shareholding of Carnation Hotels
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Lemon Tree Hotels is currently trading at Rs. 66.40, up by 1.05 points or 1.61% from its previous closing of Rs. 65.35 on the BSE.
The scrip opened at Rs. 65.45 and has touched a high and low of Rs. 66.90 and Rs. 65.45 respectively. So far 112585 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 71.40 on 13-Apr-2022 and a 52 week low of Rs. 33.85 on 29-Apr-2021.
Last one week high and low of the scrip stood at Rs. 68.40 and Rs. 63.45 respectively. The current market cap of the company is Rs. 5264.48 crore.
The promoters holding in the company stood at 23.95%, while Institutions and Non-Institutions held 40.88% and 35.17% respectively.
Lemon Tree Hotels has received approval from Finance Committee of Board of Directors to acquire 25.10% shareholding of Carnation Hotels from Rattan Keswani. Post consummation of the transaction, Carnation Hotels will become wholly owned subsidiary of the company. The acquisition is expected to be completed within 15 days.
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.
