Particle.news
Download on the App Store
9 ARTICLES
·
last wk.

Schloss Bangalore Confirms Rs 3,500-Crore IPO Launch on May 26

The Leela Hotels operator will use Rs 2,300 crore of the proceeds to repay debt, aiming for a net debt-free position post-listing.

Image
Image
Leela Hotels | Image: Leela Hotels
Image

Overview

  • Schloss Bangalore, backed by Brookfield Asset Management, has set the IPO price band at Rs 413–435 per share.
  • The offering includes a Rs 2,500-crore fresh equity issue and a Rs 1,000-crore offer-for-sale by promoter Project Ballet Bangalore Holdings (DIFC).
  • Anchor investor bidding is scheduled for May 23, with public subscription open from May 26 to May 28, and listing expected on June 2.
  • Proceeds of Rs 2,300 crore will be allocated to debt repayment, enabling the company to achieve a net debt-free balance sheet.
  • Schloss Bangalore operates 12 luxury hotels under The Leela brand, with 3,382 keys across India, and has reduced its IPO size by 30% from an initially planned Rs 5,000 crore.