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An update from Lemon Tree Hotels Ltd. ( (IN:LEMONTREE) ) is now available.
Lemon Tree Hotels has refuted media reports suggesting that private equity firm Warburg Pincus may acquire a stake in the company, possibly triggering an open offer or involving a preferential allotment of shares. Responding to stock exchange queries after the news report drove a rise in its share price, the hotel operator stated that there are currently no negotiations, discussions, agreements or proposals underway for any such stake purchase, whether from existing shareholder APG Strategic RE Pool or otherwise, and that the statements in the media item are factually incorrect and misleading. Lemon Tree added that while it routinely evaluates strategic and financial options as part of normal business, no binding agreement has been signed nor any transaction approved by its board, and it has fully complied with disclosure norms under SEBI’s LODR Regulations. The company does not expect the speculative report to have any material impact on its operations, financial position or business prospects and said it will inform exchanges if any material development arises in future.
More about Lemon Tree Hotels Ltd.
Lemon Tree Hotels Limited is an Indian hospitality company operating a chain of hotels across multiple segments, serving business and leisure travellers. The company focuses on branded hotel accommodation and related services in key urban and commercial locations across India.
Average Trading Volume: 164,200
Technical Sentiment Signal: Buy
Current Market Cap: 119.2B INR
For a thorough assessment of LEMONTREE stock, go to TipRanks’ Stock Analysis page.