Schloss Bangalore Limited IPO to Open on May 26
Bengaluru: Schloss Bangalore Limited, the parent company of The Leela Palaces, Hotels, and Resorts, is set to launch its initial public offering (IPO) on May 26, 2025. The IPO aims to raise ₹35,000 million (₹3,500 crore) through the issuance of equity shares with a face value of ₹10 each.
Key Details:
- IPO Period: May 26-28, 2025
- Anchor Investor Portion: May 23, 2025
- Listing: BSE Limited and National Stock Exchange of India Limited (NSE)
- Expected Listing Date: June 2, 2025
Issue Breakdown:
- Fresh Issue: ₹25,000 million (₹2,500 crore) worth of equity shares to be issued by the company
- Offer for Sale: ₹10,000 million (₹1,000 crore) worth of equity shares by the promoter, Project Ballet Bangalore Holdings (DIFC) Pvt Ltd
Allocation:
- Qualified Institutional Buyers (QIBs): At least 75% of the offer
- Non-Institutional Investors (NIIs): Up to 15% of the offer
- Retail Individual Investors (RIIs): Up to 10% of the offer
Use of Proceeds:
The company plans to utilize the proceeds from the fresh issue to repay its borrowings. Schloss Bangalore operates 12 properties with 3,382 keys under The Leela Palaces, Hotels, and Resorts brand.
