Schloss Bangalore Limited IPO (Leela Hotels IPO) Details
IPO Open Date: May 26, 2025
IPO Close Date: May 28, 2025
Listing Date: June 2, 2025
Issue Size: ₹5,000 Crores (Fresh Issue: ₹3,000 Cr | OFS: ₹2,000 Cr)
Face Value: ₹10 per equity share
Listing Exchange: BSE, NSE
Retail Quota: 10% | QIB: 75% | NII: 15%
Company Overview
Schloss Bangalore Limited, operating under the iconic "The Leela" brand, is a luxury hospitality company backed by Brookfield Asset Management. As of 2024, it manages 12 luxury hotels with 3,382 keys across major Indian cities, accounting for 18% of the luxury market in these areas.
With 8 new hotel projects (833 keys) in the pipeline by 2028, Schloss is positioning itself for substantial growth.
Objectives of the IPO
- Repayment/prepayment of borrowings of the company and its subsidiaries.
- General corporate purposes including capital expenditures and working capital.
Financial Performance (₹ Crores)
| Year | Revenue | Profit/Loss After Tax | Total Assets |
|---|---|---|---|
| 2022 | 415.95 | -319.83 | 5,863.01 |
| 2023 | 903.27 | -61.68 | 5,875.54 |
| 2024 | 1,226.50 | -2.13 | 7,061.88 |
| May 2024* | 169.74 | -36.39 | 6,935.21 |
*Partial financial year
Promoters
- Project Ballet Bangalore Holdings (DIFC) Pvt Ltd
- BSREP III Joy (Two) Holdings (DIFC) Ltd
- 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
- Project Ballet Udaipur Holdings (DIFC) Pvt Ltd
Lead Managers
- Axis Capital Ltd
- BofA Securities India
- Citigroup Global Markets India
- ICICI Securities
- IIFL Securities
- J.P. Morgan India
- JM Financial
- Kotak Mahindra Capital
- Morgan Stanley India
- Motilal Oswal Investment Advisors
- SBI Capital Markets
Why Should You Watch This IPO?
- Strong Brand: The Leela is a highly recognized and award-winning luxury hospitality brand.
- Strategic Expansion: With new properties in development, Schloss is poised for strong growth.
- Turnaround in Finances: Steady improvement from large losses to near break-even.
- Market Position: Among India's largest luxury hotel players.
Note: Price band and lot size are yet to be announced. Stay tuned for updates or consult your financial advisor before investing.