Leela Hotels IPO (Schloss Bangalore IPO), Filed DRHP for Rs 5000 crore

Schloss Bangalore Limited, a parent company of Leela Hotels, has filed its Draft Red Herring Prospectus (DRHP) with SEBI to prepare for its upcoming public issue. This upcoming IPO is offering a fresh issue worth up to Rs 3000 crore of equity shares and an offer for sale of up to Rs 2000 crore of equity shares.

The total aggregate size of a public issue is up to Rs 5000 crore, and the total no. of equity shares that will be issued by the company has not yet been disclosed.

This IPO will follow the book-building process, with not less than 75% of the offer reserved for Qualified Institutional Buyers (QIBs), not more than 15% for Non-Institutional Investors (NIIs), and not more than 10% for retail investors.

Leela Hotels IPO's open date and close date have not been declared yet. The price band and lot size will be revealed soon by the company. The Shares to be offered through the Red Herring Prospectus are proposed by the company to be listed on the BSE and NSE.

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About Schloss Bangalore Limited

Schloss Bangalore Limited, established in 2019, is India’s only institutionally owned and managed pure-play luxury hospitality company operating under “The Leela” brand. With a legacy rooted in Indian luxury hospitality since 1986, The Leela brand has earned over 250 industry awards since 2021 and consistently ranks among the world’s best hotels by leading travel publications. As of May 2024, Leela Hotels Limited manages a portfolio of 12 operational hotels with 3,382 keys, strategically located across 10 major Indian business and leisure destinations, representing 18% of luxury keys in these markets. The company is backed by Brookfield Asset Management and is actively expanding, with eight new properties planned by 2028, including ventures into wildlife, spiritual, and heritage tourism.

Leela Hotels IPO Objectives

Leela Hotels's IPO objective is funding received from the the repayment, prepayment, or redemption, in full or in part, of certain outstanding borrowings availed by the Company and its subsidiaries—namely Schloss Chanakya, Schloss Chennai, Schloss Udaipur, and TRPRL—through investments in such subsidiaries, along with general corporate purposes.

Financials of Schloss Bangalore Limited

The financials for the company during the period ended 31 March 2025, compared to 31 March 2025:

1. Assets increased from Rs 7,061.88 crores in March 2024 to Rs 8,266.16 crores in March 2025, a -17.05% increase.
2. Revenue increased from Rs 1,226.50 crores in March 2024 to Rs 1,406.56 crores in March 2025, a 14.68% increase.
3. Profit After Tax (PAT) reported loss of Rs 2.13 crores to Rs 47.66 crores positive in March 2025.
4. Total Borrowing decreased from Rs 4,242.18 crores to Rs 3,908.75 crores, a -8.53% decrease.

Lead managers and Registrar of Leela Hotels IPO

Leela Hotels IPO registrar is KFin Technologies Limited. On the date of allotment, investors can click on the registrar's website, select the name of the company, and enter their PAN number or application ID to learn their allotment status. The lead manager of Leela Hotels IPO is JM Financial Limited, BofA Securities India Limited, Morgan Stanley India Company Private Limited, J.P. Morgan India Private Limited, Kotak Mahindra Capital Company Limited, Axis Capital Limited, Citigroup Global Markets India Private Limited, IIFL Securities Limited, ICICI Securities Limited, Motilal Oswal Investment Advisors Limited and SBI Capital Markets Limited.

Promoters of Leela Hotels

Leela Hotels IPO promoters are Project Ballet Bangalore Holdings (DIFC) Pvt Ltd, Bsrep III Joy (TWO) Holdings (DIFC) Limited, 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, And Project Ballet Udaipur Holdings (DIFC) Pvt Ltd. The promoters' shareholdings before the IPO were 100% however, after the IPO, shareholdings will decline. To read full DRHP click here.

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