India-based mid-priced hotel chain Lemon Tree Hotels has raised INR10.38 billion (approximately US$159 million) in its initial public offering (IPO) on the Bombay Stock Exchange and National Stock Exchange of India. Lemon Tree’s investors sold 186 million shares at a price of INR56 (approximately US$0.86) per share in the offering. Global private equity firm Warburg Pincus sold 94.5 million shares, reducing its stake in the company from 24.53 percent to 12.01 percent. Separately, Warburg Pincus has led a US$44 million Series C funding round for Sensors Data, a China-based user behavior analysis platform. Private equity and venture capital fund managers Sequoia Capital, DCM Ventures, Xiang He Capital, Morningside Venture Capital, Linear Venture and Future Capital also participated in the round.