Leela Hotels IPO is set to open on May 26 with a price band of ₹413 to ₹435 per share. The ₹3,500 crore issue includes a fresh issue and an offer for sale. The IPO allotment is expected on May 29, with listing on June 2. Promoted by Brookfield-backed Schloss Bangalore, the company operates 12 luxury hotel properties. The IPO is trading at a ₹18 premium in the grey market.
Leela Hotels, operated by Brookfield-backed Schloss Bangalore, is set to launch its initial public offering (IPO) from May 26 to May 28, 2025. The company has fixed the IPO price band between ₹413 and ₹435 per equity share. The total issue size has been revised downward to ₹3,500 crore from an earlier plan of ₹5,000 crore.
The IPO comprises a fresh issue of 5.75 crore shares worth ₹2,500 crore and an offer for sale of 2.30 crore shares worth ₹1,000 crore. The shares will be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE), with the tentative listing date scheduled for June 2, 2025.
About Leela Hotels
Schloss Bangalore, established in 2019, manages The Leela brand of luxury hotels in India. As of May 2024, it operates 12 properties offering a total of 3,382 rooms under The Leela Palaces, Hotels, and Resorts brand, making it one of the country’s leading luxury hospitality companies by room count.
IPO Allocation and Lot Size
The public issue allocates 75% of shares to qualified institutional buyers (QIBs), including 60% reserved for anchor investors, 15% for non-institutional investors, and 10% for retail investors. The minimum lot size is 34 shares, with retail investors required to invest at least ₹14,042 to participate.
Promoters and Lead Managers
Leela Hotels’ promoters include Project Ballet Bangalore Holdings (DIFC) Pvt Ltd and several other Project Ballet entities. The IPO is managed by a consortium of prominent book-running lead managers, including JM Financial Limited, Bank of America Securities India Limited, Morgan Stanley India, JP Morgan India, Kotak Mahindra Capital, Axis Capital, Citigroup Global Markets India, IIFL Securities, Motilal Oswal Investment Advisors, and SBI Capital Markets.
IPO Timeline
- Subscription Period: May 26 to May 28, 2025
- Allotment Date: Expected May 29, 2025
- Listing Date: Tentatively June 2, 2025
Grey Market Premium (GMP)
Currently, shares of the Leela Hotels IPO are trading at a premium of ₹18 in the grey market, indicating positive market sentiment ahead of the subscription.
