&w=3840&q=100)
Leela Hotels IPO: Schloss Bangalore shares list at 6% discount on NSE
Leela Hotels or Schloss Bangalore shares made a weak debut on Monday, June 2, 2025, following the completion of its initial public offering (IPO). Leela Hotels share price listed at ₹406 per share on the NSE, reflecting a discount of ₹29 or 6.67 per cent over the issue price of ₹435 per share.
On the BSE, Leela Hotels shares listed at a discount of ₹28.5 or 6.5 per cent at ₹406.5 per share.
IPO listing fell short of grey market estimates. Ahead of the listing, the unlisted shares of Leela Hotels were trading around ₹437 per share, reflecting a grey market premium (GMP) of ₹2, or 46 per cent, over the issue price, revealed sources tracking unofficial market activities.
Leela Hotels IPO details
Leela Hotels IPO is a fresh issue of 57.5 million equity shares aggregating up to ₹2,500 crore, and an offer for sale (OFS) with promoter Project Ballet Bangalore Holdings divesting 23 million equity shares aggregating up to ₹1,000 crore.
Leela Hotels has set the price band of ₹413–435 per share, and a lot size of 34 shares. A retail investor would require a minimum of ₹14,790 to bid for one lot or 34 shares of Leela Hotels IPO (taking the upper end of the IPO price into consideration). A retail investor can bid for a maximum of 13 lots or 442 shares, amounting to ₹1,92,270.
The company intends to utilise the proceeds from the fresh issue towards funding the repayment/prepayment/redemption, in full or in part, of certain outstanding borrowings availed by the company and certain of its subsidiaries—namely Schloss Chanakya, Schloss Chennai, Schloss Udaipur, and TPRPL—through investment in such subsidiaries. The company will also use the proceeds for general corporate purposes.
About Schloss Bangalore
Schloss Bangalore is engaged in the ownership, operation, management, and development of luxury hotels and resorts under 'The Leela' brand. The company primarily conducts its business through a mix of direct hotel ownership and management agreements with third-party property owners. As of March 31, 2025, it ranks among India's largest luxury hospitality companies by room inventory, with a total of 3,553 keys across 13 operational hotels.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
an hour ago
- Mint
Bajaj Finserv promoters to sell up to 1.9% stake worth ₹5,828 cr via block deal
Jamnalal Sons Pvt. Ltd and Bajaj Holdings & Investment Ltd, both part of Bajaj Finserv Ltd's promoter group, are slated to offload up to 31 million shares, representing a 1.9% stake in the company, via block deals, according to the term sheet of the transaction. Bajaj Finserv Ltd is the holding company for the financial services businesses of the Bajaj Group. As of March 2025, promoter entities held approximately 60.64% stake in the company, as per the shareholding data on BSE. The document showed that the base deal is worth ₹ 4,750 crore with an option to increase the transaction by ₹ 1,078 crore, which allows the sellers to sell extra shares if there is strong demand. The indicative floor price for this deal is set at ₹ 1,880 per equity share, which implies a 3.3% discount to Thursday's closing price of ₹ 1,943.50 on the BSE, as per the term sheet. Kotak Securities is handling the transaction. Bajaj Finserv Ltd reported a 14% year-on-year rise in consolidated net profit to ₹ 2,417 crore for the quarter ended March 2025. Total consolidated income for the quarter grew to ₹ 35,596 crore, compared to ₹ 32,042 crore in the January–March quarter of the previous fiscal. According to a 5 May report by Mirae Asset Sharekhan, Bajaj Finance's earnings growth was healthy (in-line) at 19% year on year, but the management has revised guidance for FY26 slightly on the lower side with respect to the return ratio and assets under management growth. The brokerage believes strong growth visibility in the lending business and a healthy medium to long-term outlook for both insurance businesses could act as a positive trigger for strong consolidated earnings going forward. Moreover, scaling up of the new business would further support performance, which has not been factored in the brokerage's valuation. Mirae Asset Sharekhan has a 'buy' rating on the stock with a target price of ₹ 2,350. Kotak Institutional Equities also remains positive about Bajaj Finserv's ability to steer business to gain market share and profitability. 'With a complete stake in the insurance ventures at the group and the group's star CEO, Rajeev Jain, joining the Board (though in a non-executive capacity), we expect the transformation exercise at group companies to gather momentum,' highlighted the Kotak report dated 1 May. That said, any decline in the performance of its subsidiaries could weigh on the company's earnings growth and overall profitability. The recent rebound in Indian equities, after correcting more than 10% from its peak, has reignited institutional interest in block deals, according to experts. These large trades are gaining momentum once again, providing a fillip to India's equity capital markets at a time when IPO activity remains subdued and market volatility persists. As reported by Mint, institutional investors lined up four block deals worth nearly ₹ 3,500 crore on 4 June.
Time of India
an hour ago
- Time of India
CtrlS Datacenters to power BSE's critical digital infrastructure
CtrlS Datacenters to power BSE's critical digital infrastructure HYDERABAD: CtrlS Datacenters Ltd has entered a strategic partnership with the Bombay Stock Exchange (BSE) to power critical data centre infrastructure for the premier financial institution that caters to over 11 crore investors and processes over 700 crore daily transactions. With trading transitioning to electronic platforms, reliable digital infrastructure has become essential for maintaining market integrity, ensuring transaction security, and providing seamless access to financial services. The strategic collaboration underscores the critical role data centres play in modern financial markets, CtrlS said. Stressing on the need for world-class technology that is capable of supporting critical transactions, BSE CEO and managing director Sundararaman Ramamurthy said data centre infrastructure is crucial for stock exchanges. 'The shift to electronic trading has been a significant factor in the stock exchanges' use of data centres.' CtrlS Datacenters founder & CEO Sridhar Pinnapureddy said: 'The scale and criticality of BSE's operations represent not just a technological challenge, but a responsibility to India's economic sovereignty and growth.' 'Every transaction processed through our infrastructure impacts investors, businesses, and ultimately, the nation's financial health. We have engineered our solutions to deliver uncompromising reliability, microsecond-level performance, and ironclad security that BSE's operations demand,' he added. Set up in 1875, BSE is Asia's first and largest stock exchange. It is ranked the sixth largest globally by market capitalisation of around Rs 400 lakh crores (US$4.6 trillion approx) across over 5,500 listed companies. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
2 hours ago
- Time of India
KEC International shares in focus after securing orders worth ₹2,211 crore
Shares of KEC International , the RPG Group 's infrastructure arm, will be in focus on Thursday after the company announced fresh orders worth ₹2,211 crore across multiple business segments. According to the company, the Transmission & Distribution (T&D) segment has bagged key orders in the Middle East and the Americas. These include the design, supply, and installation of 380 kV overhead transmission lines in Saudi Arabia, along with the supply of towers, hardware, and poles in the Americas. The Oil & Gas Pipelines business has received its second international order for terminal station works in Africa, supplementing its ongoing pipeline-laying project in the region. Meanwhile, the Cables business secured orders for the supply of various types of cables in India and overseas. "The large order wins in Saudi Arabia have further strengthened our international T&D order book. These wins reaffirm the Middle East and North Africa (MENA) region's strategic importance as a key growth driver for us. "Our subsidiary, SAE Towers, has secured a significant tower supply order in Mexico, reflecting an uptick in the North American T&D market. With these orders, our YTD order intake stands at over ₹4,200 crores, a robust growth of 40 per cent vis-a-vis last year," Vimal Kejriwal, MD & CEO, KEC International, said. KEC International is a global EPC (Engineering, Procurement, and Construction) company with operations in Power T&D, Civil, Transportation, Renewables, Oil & Gas Pipelines, and Cables. It operates in over 110 countries, including through the supply of towers and cables. It is the flagship company of the RPG Group. KEC International shares target price As per Trendlyne data, the average target price of the stock is ₹972, which shows an upside of 10 per cent from the current market prices. The consensus recommendation from 24 analysts for the stock is a 'Buy'. KEC International shares performance On Wednesday, KEC International shares closed at ₹880.4, up 1.2 per cent on the BSE, while the benchmark Sensex surged 0.32 per cent . The stock has declined 27 per cent year-to-date but gained 26 per cent in the last three months. The company's market capitalisation stands at ₹23,437 crore.
