Leela Hotels IPO: Schloss Bangalore shares list at 6% discount on NSE

Leela Hotels or Schloss Bangalore shares made a weak debut on Monday, June 2, 2025, following the completion of its initial public offering (IPO). Leela Hotels share price listed at ₹406 per share on the NSE, reflecting a discount of ₹29 or 6.67 per cent over the issue price of ₹435 per share.

 

On the BSE, Leela Hotels shares listed at a discount of ₹28.5 or 6.5 per cent at ₹406.5 per share.

 

IPO listing fell short of grey market estimates. Ahead of the listing, the unlisted shares of Leela Hotels were trading around ₹437 per share, reflecting a grey market premium (GMP) of ₹2, or 46 per cent, over the issue price, revealed sources tracking unofficial market activities. 

 

Leela Hotels IPO details

Leela Hotels IPO is a fresh issue of 57.5 million equity shares aggregating up to ₹2,500 crore, and an offer for sale (OFS) with promoter Project Ballet Bangalore Holdings divesting 23 million equity shares aggregating up to ₹1,000 crore.

 

Leela Hotels has set the price band of ₹413–435 per share, and a lot size of 34 shares. A retail investor would require a minimum of ₹14,790 to bid for one lot or 34 shares of Leela Hotels IPO (taking the upper end of the IPO price into consideration). A retail investor can bid for a maximum of 13 lots or 442 shares, amounting to ₹1,92,270. 

 

The company intends to utilise the proceeds from the fresh issue towards funding the repayment/prepayment/redemption, in full or in part, of certain outstanding borrowings availed by the company and certain of its subsidiaries—namely Schloss Chanakya, Schloss Chennai, Schloss Udaipur, and TPRPL—through investment in such subsidiaries. The company will also use the proceeds for general corporate purposes.

About Schloss Bangalore

Schloss Bangalore is engaged in the ownership, operation, management, and development of luxury hotels and resorts under 'The Leela' brand. The company primarily conducts its business through a mix of direct hotel ownership and management agreements with third-party property owners. As of March 31, 2025, it ranks among India’s largest luxury hospitality companies by room inventory, with a total of 3,553 keys across 13 operational hotels.