Leela Hotels' Shares List At 6.6% Discount: Should You Buy, Hold Or Sell?
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Schloss Bangalore Ltd, owner of Leela Palaces Hotels and Resorts, debuts weakly on the stock market, listing at Rs 406 on NSE, which is 6.67% below IPO price.
Leela Hotels IPO Listing: Schloss Bangalore Ltd, the owner of Leela Palaces Hotels and Resorts, on Monday made a weak stock market debut. On the NSE, shares of the company was listed at Rs 406 apiece, which was 6.67 per cent lower than the IPO price.
On the BSE, the stock listed at a discount of 6.55 per cent at Rs 406.5 apiece.
The IPO price was fixed at Rs 435 per share.
The Leela Hotels IPO, which was open for public subscription between March 26 and March 28, received a 4.72 times subscription, with a bidding of 20,87,17,330 shares against the offered shares of 4,42,52,875. The retail quota was not fully subscribed and received just 0.87 times subscription, while NII participation also remained low at 1.08 times. Its qualified institutional buyer (QIB) category got a 7.82 times subscription.
Its grey market premiums (GMP), which indicate listing gain/ loss, already indicated a negative listing.
Should You Hold, Buy or Sell?
Most brokerage had mentioned that the IPO must with subscribed only with Caution and it is for high-risk, long-term investors.
Bajaj Broking recommended the IPO for long-term view.
First Published:
June 02, 2025, 10:03 IST
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