RJ Corp sells over 1 cr shares of Lemon Tree Hotels

Diversified group RJ Corp Ltd on Wednesday sold 1.1 crore shares or approximately 1.4 percent stake of Lemon Tree Hotels in an open market transaction. According to bulk deal data on the BSE, the shares were offloaded at an average price of Rs 60.01 apiece, which took the total deal value to Rs 66.01 crore.

Besides, WF Asian Reconnaissance Fund Ltd picked up 1 crore shares of Lemon Tree Hotels at a price of Rs 60 per scrip, valuing the deal at Rs 60 crore. At the end of the September 2019 quarter, RJ Corp is a public shareholder of Lemon Tree Hotels and held a 5.48 percent stake, the shareholding data on BSE showed.

On the BSE, shares of Lemon Tree Hotels ended at Rs 60.50, 3.68 percent higher over the previous close.