Lemon Tree Hotels Denies Report of Warburg Pincus Stake

Lemon Tree Hotels on Thursday denied a media report that private equity firm Warburg Pincus was in talks to acquire a “meaningful stake” in the hotel chain.

“We hereby categorically clarifies that no negotiations, discussions, agreements orproposals are ongoing or have been approved,” Lemon Tree said in a filing with the Bombay Stock Exchange. It also clarified that no preferential allotment of shares to Warburg Pincus is under consideration.

Shares in Lemon Tree had surged 5% a day earlier after the r