India: Lemon Tree Hotels plans IPO in next 18 months

India: Lemon Tree Hotels plans IPO in next 18 months

A file photo of Patu Keswani, chairman and managing director, Lemon Tree. The firm runs 24 hotels with 3,000 rooms and is building 9 more that will be operational by 2018. Photo: Ramesh Pathania/Mint

Lemon Tree Hotels Ltd, a Delhi-based hotel chain plans to sell shares to the public in the next 18 months. The company, backed by Dutch pension fund APG and global private equity fund Warburg Pincus is yet to finalise the amount it plans to raise from the primary market.

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