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Leela Hotels Shares Debut at 6.7% Discount despite Oversubscribed IPO

Retail hesitancy drove much of the opening gap despite strong backing from institutional bidders.

Schloss Bangalore disappoint at stock market debut; shares list at 7% discount

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.