The Leela Palaces, Hotels & Resorts Raises ₹1,575 Crores from Anchor Investors
Bengaluru: The Leela Palaces, Hotels & Resorts, backed by Brookfield, has successfully raised ₹1,575 crores from 47 anchor investors at the upper end of the price band at ₹435 per equity share. The company has allotted 36,206,896 equity shares to these investors ahead of its proposed initial public offering (IPO).
The anchor book saw strong participation from domestic institutional investors, including leading mutual funds and insurance companies. Global investors, such as sovereign and long-only FIIs, also showed significant interest in the offering.
The offer comprises a fresh issue of equity shares aggregating up to ₹2,500 crores and an offer for sale of equity shares aggregating up to ₹1,000 crores by Brookfield-owned Project Ballet Bangalore Holdings (DIFC) Pvt. Ltd. The company plans to utilize the net proceeds of the fresh issue towards debt repayment and general corporate purposes.
The IPO is being managed by a consortium of leading investment banks, including JM Financial Limited, Kotak Mahindra Capital Company Limited, Morgan Stanley India Company Private Limited, and others.
