By Admin 
Leela Hotels IPO: The IPO of Schloss Bangalore, a company operating Leela Palace Hotels and Resorts, is going to open on May 26, 2025. 3500 crore will be raised through this mainboard IPO. Brookfield-backed Shloss Bangalore Limited has fixed Rs 413-435 per share for IPOs. The company’s market cap is currently estimated to be around Rs 10,155 crore.
The company reduced the size of IPO
Let us know that in September last year, the company had described the IPO size of Rs 5,000 crore in the draft Red Herring Prospects (DRHP) deposited with the market regulator SEBI, which has been reduced to 30 percent or Rs 1,500 crore. This issue was approved by SEBI in December 2024.
On 20 May, the company filed a Red hering prospectus (RHP) with the Registrar of Companies. Although Schloss did not mention the reducing the size of the IPO, it is being told that the company has taken this decision in view of the ups and downs in the market due to tariffs and other geopolitical tensions. Ather Energy has also recently reduced its IPO size from Rs 3,100 crore to Rs 2,626 crore.
Listing will be done on this day
Investors will be able to bid for the IPO of Leela Hotels from 26 May. The issue will be closed on May 28. The share allotment is expected to be held on May 29. While the listing of shares is to be done on June 2 on BSE and NSE. This IPO will have a fresh issue of 2,500 crore with 5.75 crore shares and an offer of Rs 1,000 crore with 2.30 crore shares. The IPO has a lot size 34 shares. The minimum application size for retail investors will be Rs 14,042 for a lot.
Money will be used in this work
The company has said in its filing, in this issue, 75 percent of the offer is reserved for eligible institutional buyers (QIB), 15 percent part has been booked for non-institutional institutional investors (NIIs) and the remaining 10 percent share for investors.
The amount raised from the IPO will be used for paying the company dues and for general corporate purposes. Bangalore, one of India’s largest luxury hospitality companies, operates 13 luxury hotels with 3,553 hotels in India. Its portfolio includes the Portfolio, The Leela Palace, The Leela Hotel and The Leela Resorts.
What is the gesture of GMP?
Before the IPO, Leela Hotels’ unlisted shares are trading firmly in the gray market as its gray market premium (GMP) is constantly increasing. Stock market experts said that on May 23, GMP of Leela Hotels IPO has increased to Rs 15 per share. This shows that Leela Hotels shares in the gray market are trading at Rs 15 more than their issue price.