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Schloss Bangalore (Leela Hotels) IPO is a bookbuilt issue of ₹ 3500.00 crores. It combines a fresh issue of 5.75 crore shares aggregating to ₹2,500.00 crores and an offer for sale of 2.30 crore shares aggregating to ₹1,000.00 crores.
The IPO opens for subscription on May 26, 2025, and closes on May 28, 2025. The allotment is expected to be finalized on Thursday, May 29, 2025. The price band for the IPO is set at ₹413 to ₹435 per share, and the minimum lot size for an application is 34 shares.
Company Summary
Schloss Bangalore Limited, established on March 20, 2019, is a luxury hospitality company operating under the “The Leela” brand in India. It owns, operates, manages, and develops luxury hotels and resorts, offering premier accommodations and personalised services inspired by Indian hospitality.
As of May 31, 2024, Schloss Bangalore Limited is one of India’s largest luxury hospitality companies by number of keys, with a portfolio of 12 operational hotels comprising 3,382 keys. The portfolio includes The Leela Palaces, The Leela Hotels, and The Leela Resorts. The company operates through direct ownership and hotel management agreements with third-party owners.
The owned portfolio comprises five landmark hotels with 1,216 keys across key business and leisure destinations: Bengaluru, Chennai, New Delhi, Jaipur, and Udaipur. These hotels, renowned as modern palaces, blend traditional Indian architecture with contemporary luxury.
Schloss Bangalore Limited is promoted by private equity funds managed and advised by affiliates of Brookfield, one of the world’s largest alternative asset managers.
Ownership portfolio
- The Leela Palace Bengaluru
- The Leela Palace Chennai
- The Leela Palace New Delhi
- The Leela PalaceJaipur
- The Leela Palace Udaipur
As of May 31, 2024, the company operates 67 restaurants, bars, and cafes, including Jamavar, Library Bar, ZLB 23, Megu, China XO, Le Cirque, and Sheesh Mahal. The portfolio also includes 12 spas and wellness sanctuaries, with a spa collaboration with Soneva under development at The Leela Palace Bengaluru, set for completion in FY 2026. Additionally, the properties are equipped to host corporate meetings, conferences, weddings, and social events, catering to India’s premium MICE market.
Company Strengths
- Renowned luxury brand with global appeal and rich heritage.
- Hotels owned by iconic people have in high barrier to entry into the luxury market.
- Diversifying revenue streams across hospitality services with a comprehensive luxury ecosystem.
- Proven operational efficiency through an active asset management approach.
- A strong emphasis on sustainability and renewable energy initiatives.
- Experienced senior management and a well-diversified distinguished board.
- Supported by Brookfield, a multinational investor with local expertise.
Company Financials
Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
Assets | 8266.16 | 7061.88 | 5875.54 |
Revenue | 1406.56 | 1226.50 | 903.27 |
Profit After Tax | 47.66 | -2.13 | -61.68 |
Net Worth | 3604.99 | -2825.72 | -2511.96 |
Reserves ad Surplus | 3280.43 | -2906.20 | -2582.80 |
Total Borrowing | 3908.75 | 4242.18 | 3696.18 |
Amount in ₹ crore |
Objectives of IPO
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Promoters of the company
Project Ballet Bangalore Holdings (DIFC) Pvt Ltd, BSREP III Joy (Two) Holdings (DIFC) Limited, BSREP III Tadoba Holdings (DIFC) Pvt Ltd, Project Ballet Chennai Holdings (DIFC) Pvt Ltd, Project Ballet Gandhinagar Holdings (DIFC) Pvt Ltd, Project Ballet HMA Holdings (DIFC) Pvt Ltd and Project Ballet Udaipur Holdings (DIFC) Pvt Ltd are the company promoters.
IPO Details
IPO Date | May 26, 2025 to May 28, 2025 |
Listing Date | Jun 03, 2025 |
Face Value | ₹10 per share |
Price Band | ₹413 to ₹435 per share |
Lot size | 34 shares |
Total Issue size | 8,04,59,769 shares (aggregating up to ₹3500.00 Cr) |
Fresh issue | 5,74,71,264 shares (aggregating up to ₹2500.00 Cr) |
Offer for Sale | 2,29,88,505 shares of ₹ (aggregating upto ₹1000.00 Cr) |
Issue type | Bookbuilding IPO |
Listing at | NSE, BSE |
Lot Allocation Details
Application | Lots | Shares | Amount |
Retail (Min) | 1 | 34 | ₹14,790 |
Retail (Max) | 13 | 442 | ₹1,92,270 |
S-HNI (Min) | 14 | 476 | ₹2,07,060 |
S-HNI (Max) | 67 | 2278 | ₹9,90,930 |
B-HNI (Min) | 68 | 2312 | ₹10,05,720 |
Allotment Schedule
Basis of Allotment | Thu, May 29, 2025 |
Initiation of Refunds | Fri, May 30, 2025 |
Credit of Shares to Demat | Fri, May 30, 2025 |
Tentative Listing Date | Mon, Jun 02, 2025 |
Cut-off time for UPI mandate confirmation | 5 PM on May 28, 2025 |
IPO Reservation
Investor Category | Shares Offered |
QIB Shares Offered | Not less than 75% of the Offer size |
Retail Shares Offered | Not more than 10% of the Offer size |
NII (HNI) Shares Offered | Not more than 15% of the Offer size |
To check allotment, click here
Disclaimer: Investments in the Securities market and Mutual Funds are subject to market risks. Read all the related documents carefully before investing | The securities are quoted as an example and not as a recommendation | Brokerage will not exceed the SEBI-prescribed limit | Margins will be collected as per the exchange norms.
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