Sidley represented Kotak Mahindra, CLSA India, JP Morgan and Yes Securities as underwriters in the issue of US$160 million initial public offering of Lemon Tree Hotels Limited (Lemon Tree Hotels), pursuant to Section 4(a) and Regulation S.
This is the first initial public offering in India by a mid-market segment hotel chain. Lemon Tree Hotels is India’s largest hotel chain in the mid-priced hotel sector and the third largest hotel chain overall, on the basis of controlling interest in owned and leased rooms, as of June 30, 2017.
The company, led by Patanjali Govind Keswani, Rattan Keswani and Vikramjit Singh, recorded $67 Million Revenues.
The multi-office Sidley team was comprised of partner Manoj Bhargava (Picture) (Singapore), counsel Ankit Kashyap (Singapore) and Carla Teodoro (New York), and associates Rishabh Gupta (Singapore) and Varun Jetly (Singapore), with support from legal assistant Krittika Shah (Singapore).
Law Firms: Sidley Austin LLP;