Schloss Bangalore Limited Unveils ₹3,500 Crore IPO; Management Outlines Vision in Ahmedabad
The Leela’s Legacy of Excellence Meets Brookfield’s Vision: Launching a Landmark IPO to Elevate India’s Luxury Hospitality
IPO Proceeds Target Expansion, Debt Reduction, and Strengthening Market Presence
Leadership Emphasizes Growth, Asset-Light Strategy, and Investor Confidence
- IPO Size:₹3,500 crore.
- Launch Date:May 26, 2025.
- IPO Proceeds:To be used for expansion, debt repayment, and general corporate purposes.
- Underlying Company:Schloss Bangalore Ltd, which operates The Leela hotel brand.
- Ownership:Brookfield is a major investor in Schloss Bangalore Ltd.
- Price Band:₹413-435 per share.
BILKULONLINE
By Rafat Quadri
Ahmedabad, may 23: Schloss Bangalore Limited, which owns and operates the prestigious luxury hospitality brand The Leela Palaces, Hotels and Resorts, announced the launch of its ₹3,500 crore Initial Public Offering (IPO) during a media briefing held in Ahmedabad on Thursday, May 22nd.
The session, conducted on Thursday at The Leela, Gandhinagar, was led by Consultant Marketing Anjali Mehra and attended by senior leadership including CEO Anuraag Bhatnagar, CFO Ravi Shankar, and Ashank Kothari, Managing Director – Investments (Real Estate) at Brookfield, the promoter group.
The IPO, opening on May 26 and closing on May 28, 2025, comprises a Fresh Issue of ₹2,500 crore and an Offer for Sale of ₹1,000 crore by promoter shareholder Project Ballet Bangalore Holdings (DIFC) Pvt Ltd. The price band has been fixed at ₹413 to ₹435 per equity share of face value ₹10 each. Bidding will be in lots of 34 equity shares and multiples thereof. Anchor bidding opens on May 23, 2025.
Addressing the media, Anuraag Bhatnagar, CEO of The Leela, stated:
“This IPO is more than a financial milestone—it’s a reaffirmation of our commitment to redefine Indian luxury hospitality. With our roots in Indian tradition and eyes on global standards, The Leela is poised to scale newer heights while retaining the soul of bespoke service our guests cherish.”
Ravi Shankar, Head of Asset Management and CFO of Schloss Bangalore Limited, detailed the financial roadmap:
“The proceeds from the fresh issue will be strategically deployed towards debt reduction, expansion, and property enhancements. Our focus remains on building a robust and asset-light growth model that ensures long-term value creation.”
Representing Brookfield, Ashank Kothari, Managing Director – Investments (Real Estate), reinforced investor confidence in The Leela brand when he said, “Brookfield’s investment in The Leela is anchored in a deep conviction about India’s premium hospitality segment. The brand has proven its resilience and is ready for its next growth phase—this IPO enables us to bring more institutional depth and transparency to that journey.”
The IPO is being undertaken through the Book Building Process in accordance with SEBI ICDR Regulations. At least 75% of the net offer is reserved for Qualified Institutional Buyers (QIBs), up to 15% for Non-Institutional Investors (NIIs), and 10% for Retail Individual Investors (RIIs). All non-anchor investors must apply through the ASBA (Application Supported by Blocked Amount) process.
The equity shares are proposed to be listed on BSE and NSE, with NSE being the designated stock exchange.
Book Running Lead Managers (BRLMs) to the IPO include JM Financial, BofA Securities, Morgan Stanley, J.P. Morgan, Kotak Mahindra Capital, Axis Capital, Citigroup Global Markets India, IIFL Capital Services, ICICI Securities, Motilal Oswal Investment Advisors, and SBI Capital Markets.
(Rafat Quadri can be contacted at editorbilkul@gmail.com)
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