Overview
- Schloss Bangalore’s ₹3,500 crore IPO was subscribed 4.72 times overall, with QIBs bidding 7.82 times and retail investors securing just 0.87 times.
- Shares opened at ₹406 on the NSE and ₹406.50 on the BSE, about 6.7% below the ₹435 issue price.
- The stock rebounded during trading to nearly ₹429, narrowing the discount to roughly 1.5% by mid-session.
- Proceeds from the ₹2,500 crore fresh equity issue are earmarked primarily for debt repayment and general corporate purposes.
- Backed by Brookfield Asset Management, Schloss Bangalore operates 13 Leela hotels with 3,553 keys and reported a 15% revenue increase and significant profit growth in FY25.