Schloss Bangalore IPO (Leela Hotels IPO)

₹14/34 shares

Minimum Investment

IPO Details

Open Date

26 May 25

Close Date

28 May 25

Minimum Investment

₹14

Lot Size

Price Range

₹413 to ₹435

Listing Exchange

NSE, BSE

Issue Size

₹3 Cr

Listing Date

02 Jun 25

Open Free Demat Account

Schloss Bangalore IPO (Leela Hotels IPO) Timeline

Bidding Start

26 May 25

Bidding Ends

28 May 25

Allotment Finalisation

29 May 25

Refund Initiation

30 May 25

Demat Transfer

30 May 25

Listing

02 Jun 25

Schloss Bangalore Limited (Leela Hotels)

Schloss Bangalore Limited, founded in 2019, is a leading luxury hospitality company in India operating under “The Leela” brand. As of May 31, 2024, it manages 12 hotels with 3,382 keys, including five owned landmark properties in Bengaluru, Chennai, New Delhi, Jaipur, and Udaipur. These hotels combine traditional Indian architecture with modern luxury. Schloss offers 67 dining venues, 12 spas, and extensive event facilities. Promoted by Brookfield-managed private equity funds, Schloss is a key player in India’s luxury hospitality and premium MICE markets.

Schloss Bangalore Limited IPO (Leela Hotels IPO) Overview

Leela Hotels is launching an IPO with a total size of ₹3,500 crore through a book-building process. This issue consists of a fresh issue of 5.75 crore shares worth ₹2,500 crore, along with an offer for sale of 2.30 crore shares valued at ₹1,000 crore. The IPO opens for subscription on May 26, 2025, and closes on May 28, 2025. The allotment is expected to be finalized by Thursday, May 29, 2025, with the shares tentatively set to list on the BSE and NSE on Monday, June 2, 2025.

The price band for the Leela Hotels IPO is fixed between ₹413 and ₹435 per share. Investors can apply in a minimum lot size of 34 shares, requiring a minimum investment of ₹14,042. However, it is recommended that investors bid at the cutoff price of ₹435 per share to avoid issues related to oversubscription, which would require an investment of approximately ₹14,790. For non-institutional investors (NII), the minimum lot size is 14 lots (476 shares), amounting to ₹2,07,060, while for qualified institutional buyers (QIBs), it is 68 lots (2,312 shares), with an investment value of ₹10,05,720.

The book running lead managers (BRLMs) for the Leela Hotels IPO include JM Financial Limited, BofA Securities India Limited, Morgan Stanley India Company Pvt Ltd, J.P. Morgan India Private Limited, Kotak Mahindra Capital Company Limited, Axis Capital Limited, Citigroup Global Markets India Private Limited, IIFL Securities Ltd, Motilal Oswal Investment Advisors Limited, and SBI Capital Markets Limited. Kfin Technologies Limited is appointed as the registrar for the issue.

Schloss Bangalore Limited IPO Details

Particulars	Details
IPO Date	26 May 2025 to 28 May 2025
Listing Date	2 June 2025
Face Value	₹10 per share
Issue Price Band	₹413 to ₹435 per share
Lot Size	34 Shares
Total Issue Size	8,04,59,769 shares (aggregating up to ₹3,500.00 Cr)
Fresh Issue	5,74,71,264 shares (aggregating up to ₹2,500.00 Cr)
Offer for Sale	2,29,88,505 shares of ₹10 (aggregating up to ₹1,000.00 Cr)
Issue Type	Bookbuilding IPO
Listing At	NSE BSE
Share Holding Pre Issue	17,59,85,320 shares
Share Holding Post Issue	23,34,56,584 shares

Schloss Bangalore Limited IPO Reservation

Investor Category	Shares Offered
QIB	Not less than 75% of the Net Issue
Retail	Not more than 10% of the Net Issue
NII (HNI)	Not more than 15% of the Net Issue

Schloss Bangalore Limited IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	34	₹14,790
Retail (Max)	13	442	₹1,92,270
S-HNI (Min)	14	476	₹2,07,060
S-HNI (Max)	67	2,278	₹9,90,930
B-HNI (Min)	68	2,312	₹10,05,720

Schloss Bangalore Limited IPO Promoter Holding

Shareholding Status	Percentage
Pre-Issue	100.00%
Post-Issue

Schloss Bangalore Limited IPO Valuation Overview

KPI	Value
Earnings Per Share (EPS)	1.97
Price/Earnings (P/E) Ratio	TBD
Return on Net Worth (RoNW)	1.32%
Net Asset Value (NAV)	148.88
Return on Equity	–
Return on Capital Employed (ROCE)	–
EBITDA Margin	49.78%
PAT Margin	–
Debt to Equity Ratio	1.07

Objectives of the Proceeds

Repayment, prepayment, or redemption (either in full or part) of specific outstanding borrowings, accrued interest, and applicable prepayment penalties, including:

₹11,025.00 million for borrowings availed by the company itself

₹11,975.00 million for borrowings availed by its wholly owned subsidiaries and step-down subsidiaries, specifically Schloss Chanakya, Schloss Chennai, Schloss Udaipur, and TPRPL, through investments into these entities

Meet general corporate expenses

Key Financials (in ₹ milliom)

Particulars	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	82,661.63	70,618.80	58,755.37
Revenue	13,005.73	11,714.53	8600.58
Profit After Tax	476.58	(21.27)	(616.79)
Reserves and Surplus	32,804.29	(29,062.02)	(25,828.04)
Total Borrowings	39,087.46	42,421.81	39,961.82

Schloss Bangalore Limited

SWOT Analysis of Schloss Bangalore IPO (Leela Hotels IPO)

Strength and Opportunities

Strong brand presence through The Leela, recognized for luxury and service excellence.
Ownership of flagship hotels in prime business and leisure destinations across India.
Backing by Brookfield Asset Management, providing financial stability and strategic support.
Opportunities for expansion through acquisitions and new hotel management agreements.

Risks and Threats

High financial leverage due to significant long-term debt obligations.
Susceptibility to cyclical and seasonal fluctuations in the hospitality industry.
Exposure to macroeconomic factors affecting travel and tourism demand.
Intense competition in the luxury hospitality segment from both domestic and international players.

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About Schloss Bangalore Limited

IPO Strengths

The Leela is a globally celebrated luxury hospitality brand with over 250 awards since 2021, consistently ranked among the world’s best by Travel + Leisure and Conde Nast Traveler.

Its nearly 40-year legacy, rooted in Indian values and modern luxury, fosters a distinctive guest experience that is hard to replicate.

High entry barriers in luxury hospitality enhance The Leela’s competitive positioning and brand credibility.

Its properties undergo rigorous LQA audits and maintain top-tier staff-to-room ratios, ensuring exceptional service and guest satisfaction.

Strong financial metrics, including RevPAR and EBITDA margin, reflect operational excellence and premium market status.

Strategically located marquee-owned hotels in high-entry-barrier markets further reinforce The Leela’s unique value proposition.

Peer Group Comparison

Particulars	Face Value (₹)	Revenue	EPS )	P/E	RoNW (%)	Net Worth	NAV (₹)
Schloss Bangalore Limited	10.00	13,005.73	1.97	[●]	1.32%	36,049.88	148.88
Our Company (Fiscal 2024)	10.00	11,714.53	(0.12)	[●]	N.A.	(28,257.23)	(160.57)
Peer Groups
The Indian Hotels Co. Ltd (FY25)	1.00	83,345.40	13.4	59.84	16.42%	1,24,156.10	87.22
The Indian Hotels Co. Ltd (FY24)	1.00	67,687.50	8.86	86.43	13.13%	1,01,287.10	71.16
EIH Limited (FY24)	2.00	25,112.71	10.22	36.24	16.58%	40,863.65	65.34
Chalet Hotels Limited (FY24)	10.00	14,172.52	13.54	59.93	15.03%	18,508.68	84.74
Juniper Hotels Limited (FY24)	10.00	8,176.63	1.46	197.91	0.90%	26,552.81	119.34
Ventive Hospitality Limited (FY24)	1.00	18,420.66	(5.24)	N.A.	(1.82%)	36,697.33	157.13
ITC Hotels Limited (FY24)	1.00	30,340.00	N.A.	NA	NA	NA	NA

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