Leela Hotels IPO to open on May 26: Check price band, GMP, key dates, more

Leela Hotels' owner Schloss Bangalore has set the price band for its IPO in the range of ₹413 to ₹435 per equity share

Schloss Bangalore (Leela Hotels) IPO: Schloss Bangalore, operator of the luxury hotels brand "The Leela" in India, is set to launch its initial public offering (IPO) on May 26, 2025. The ₹3,500-crore issue comprises a fresh issue of 57.5 million shares worth ₹2,500 crore and an offer for sale (OFS) of 23 million shares worth ₹1,000 crore. The Brookfield Asset Management-backed company reduced its issue size by 30 per cent to ₹3,500 crore from ₹5,000 crore earlier.

 

According to the red herring prospectus (RHP), up to 75 per cent of the issue will be reserved for qualified institutional buyers (QIBs), 15 per cent for non-institutional investors (NIIs), and the remaining 10 per cent for retail investors. 

Here are the key details of Schloss Bangalore (Leela Hotels) IPO

Schloss Bangalore (Leela Hotels) IPO price band, lot size

Schloss Bangalore has set the price band for its IPO in the range of ₹413 to ₹435 per equity share. The minimum lot size for an application is 34 shares. A retail investor would require a minimum investment amount of ₹14,042 to bid for one lot.  

Schloss Bangalore (Leela Hotels) IPO key dates

According to the red-herring prospectus, the three-day subscription window will tentatively close on Wednesday, May 28, 2025. The anchor investor bid period shall be one working day before the issue opening date. The basis of allotment of shares is likely to be finalised on or before Thursday, May 29, 2025. Shares of Leela Hotels will list on both the exchanges, National Stock Exchange and BSE, tentatively on Monday, June 2, 2025. 

Schloss Bangalore (Leela Hotels) IPO registrar, lead manager

Kfin Technologies is the registrar of the issue. JM Financial, BofA Securities India, Morgan Stanley, JP Morgan India, Kotak Mahindra Capital Company, Axis Capital, IIFL Capital Services, ICICI Securities, Motilal Oswal Investment Advisors, and SBI Capital Markets are the book-running lead managers.

Schloss Bangalore (Leela Hotels) IPO objective

According to the red herring prospectus (RHP), the company aims to utilise net fresh issue proceeds for repayment/ prepayment/ redemption, in full or in part, of certain outstanding borrowings, interest accrued and prepayment penalties availed by the company. In addition, the company plans to use the proceeds for general corporate purposes.  

Schloss Bangalore (Leela Hotels) IPO GMP

The unlisted shares of Schloss Bangalore were trading ₹453, commanding a grey market premium of ₹18 or 4 per cent, compared to the upper price band of ₹435 in the grey market as of 7:34 AM on Wednesday, according to sources tracking unofficial market activities.

About Schloss Bangalore (Leela Hotels)

Incorporated in 2019, Schloss Bangalore owns, operates, manages and develops luxury hotels and resorts under "The Leela" brand. As of March 31, 2025, it is one of the largest luxury hospitality companies by number of keys in India, comprising 3,553 keys across 13 operational hotels. The company's portfolio includes The Leela Palaces, The Leela Hotels and The Leela Resorts. Schloss Bangalore undertake its business primarily through direct ownership of hotels and hotel management agreements with third-party hotel owners. Its portfolio includes five owned hotels, seven hotels managed by the company under hotel management agreements, and one hotel owned and operated by a third party under a franchise arrangement. Schloss Bangalore has a strategic footprint across 10 key Indian business and leisure destinations, covering 80 per cent of international air traffic and 59 per cent of domestic air traffic in India in the financial year 2024-25.

Schloss Bangalore (Leela Hotels) financial overview

In the financial year 2024-25 (FY25), Schloss Bangalore reported consolidated revenue from operations of ₹1,300.5 crore, up 11 per cent from ₹1,171.4 crore in the previous fiscal. Its profit after tax (PAT) stood at ₹49.2 crore in FY25, compared to a loss of ₹2.12 crore in FY24.