Kolkata: Leela Palaces Hotels and Resorts is one of India’s prominent luxury hotel chains. Its holding company Schloss Bangalore is coming out with a public issue designed to raise Rs 3,500 crore from the market which will open for subscription on Monday, May 26, 2025. On Friday, the company got a shot in the arm when it successfully raised Rs 1,575 crore from anchor investors such as HDFC Mutual Fund (MF), ICICI Prudential MF, Nippon India MF, Mirae MF, Invesco MF, Aditya Birla Sun Life Insurance Company and FPIs such as Think Invest, Fidelity, Norges Bank, Whiteoak, Lunate, UC Regents.
The IPO will consist of a fresh issue of equity shares worth Rs 2,500 crore and OFS (offer for sale) of stocks of Rs 1,000 crore. The current promoter Project Ballet Bangalore Holdings will dilute its stake. According to reports, Schloss Bangalore will use part proceeds of fresh issue to pay loans taken by the company/subsidiaries and for sundry corporate purposes.
Leela Hotels IPO GMP
According to investorgain, the GMP (Grey Market Premium) of the Leela Hotels IPO stood at Rs 12 on May 21. It then climbed to Rs 14 on May 22 and further to Rs 20 on May 23 and stayed at that level on Saturday, May 24. At that level, it signaled a listing price of Rs 455 and a resultant listing gain of Rs 4.60%. However, it must be borne in mind that GMP is not an unofficial indicator and is liable to change with time. It does not guarantee the investor anything — a gain or loss on listing.
Leela Hotels IPO price band, lot size, allotment date
The Leela Hotels IPO price band has been set at Rs 413-435 per share and the minimum lot size for a retail investor is 34 shares. At the higher end of the price band, a retail investor has to arrange for a minimum application amount of Rs 14,042. The last date for application for shares is May 28. Please note that the cut-off time for UPI mandate confirmation is 5 PM on May 28.
While the shares will be allotted on May 29, the initiation of refunds to unsuccessful bidders will take place on May 30. Shares will be credited on the same day. The day of listing has been scheduled on June 2. The IPO is managed by as many as 11 merchant bankers such as JM Financial, BofA Securities India, Morgan Stanley India Company, JP Morgan India, Kotak Mahindra Capital Company, Axis Capital, Citigroup Global Markets India, IIFL Securities, ICICI Securities, Motilal Oswal Investment Advisors, and SBI Capital Markets.
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