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Economic Times
29-05-2025
- Business
- Economic Times
The Leela IPO allotment to be finalised today: How to check status, GMP and listing details
Investors who participated in the Rs 3,500 crore Schloss Bangalore IPO, the parent company of The Leela Palaces, Hotels and Resorts, will receive their allotment status today. The IPO, subscribed 2.62 times overall, saw strong interest from QIBs but a lukewarm response from retail investors. Shares are expected to list on BSE and NSE on June 2. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads How to check the Leela IPO Allotment on BSE How to Check via KFin Technologies (Registrar): Tired of too many ads? Remove Ads Investors who applied for the much-anticipated Rs 3,500 crore initial public offering (IPO) of Schloss Bangalore , the parent company behind The Leela Palaces, Hotels and Resorts, will know their allotment status today. The basis of allotment is expected to be finalised by the end of the day. The IPO opened for subscription on May 26 and closed on May 28, with shares expected to list on BSE and NSE on June the IPO received a lukewarm response from retail and non-institutional investors, the overall subscription stood at 2.62 enthusiasm was largely driven by qualified institutional buyers (QIBs), who subscribed to their quota 4.34 times. In contrast, the retail portion was subscribed only 0.70 times and the NII segment was covered by just 0.32 times, suggesting lower retail confidence despite the popularity of The Leela subdued interest has also trickled down into the grey market. The latest grey market premium (GMP) for Schloss Bangalore shares stands at a mere Rs 2, implying a potential listing price of Rs 437 against the issue price of Rs 435 -- a modest expected gain of 0.46%.Those who do secure allotment can expect shares to be credited to their demat accounts by May 30. Refunds for unallocated applicants will also be initiated on the same day. The listing will take place on June Select 'Equity' and 'Schloss Bangalore Limited' from the your PAN or application 'Search' to view your allotment Choose 'Schloss Bangalore Limited IPO'Enter PAN, application number or DP/client IDClick 'Submit' to access statusSchloss Bangalore, backed by Brookfield, runs a portfolio of 12 luxury properties and operates under The Leela brand. The IPO proceeds will be used mainly for debt repayment across its owned hotels and subsidiaries, including properties in New Delhi, Chennai, Udaipur, and Jaipur, and for general corporate purposes.: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of Economic Times)
Time of India
29-05-2025
- Business
- Time of India
The Leela IPO allotment to be finalised today: How to check status, GMP and listing details
Investors who applied for the much-anticipated Rs 3,500 crore initial public offering (IPO) of Schloss Bangalore , the parent company behind The Leela Palaces, Hotels and Resorts, will know their allotment status today. The basis of allotment is expected to be finalised by the end of the day. The IPO opened for subscription on May 26 and closed on May 28, with shares expected to list on BSE and NSE on June 2. While the IPO received a lukewarm response from retail and non-institutional investors, the overall subscription stood at 2.62 times. The enthusiasm was largely driven by qualified institutional buyers (QIBs), who subscribed to their quota 4.34 times. In contrast, the retail portion was subscribed only 0.70 times and the NII segment was covered by just 0.32 times, suggesting lower retail confidence despite the popularity of The Leela brand. Play Video Play Skip Backward Skip Forward Mute Current Time 0:00 / Duration 0:00 Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions and subtitles off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. The subdued interest has also trickled down into the grey market. The latest grey market premium (GMP) for Schloss Bangalore shares stands at a mere Rs 2, implying a potential listing price of Rs 437 against the issue price of Rs 435 -- a modest expected gain of 0.46%. Those who do secure allotment can expect shares to be credited to their demat accounts by May 30. Refunds for unallocated applicants will also be initiated on the same day. The listing will take place on June 2. Live Events How to check the Leela IPO Allotment on BSE Visit: Select 'Equity' and 'Schloss Bangalore Limited' from the dropdown. Enter your PAN or application number. Click 'Search' to view your allotment status. How to Check via KFin Technologies (Registrar): Visit: Choose 'Schloss Bangalore Limited IPO' Enter PAN, application number or DP/client ID Click 'Submit' to access status Schloss Bangalore, backed by Brookfield, runs a portfolio of 12 luxury properties and operates under The Leela brand. The IPO proceeds will be used mainly for debt repayment across its owned hotels and subsidiaries, including properties in New Delhi, Chennai, Udaipur, and Jaipur, and for general corporate purposes. ( Disclaimer : Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of Economic Times)
Time of India
26-05-2025
- Business
- Time of India
Leela Leadership Development Programme: The Leela Hotels Launches Leadership Development Programme for Class of 2026, ET HospitalityWorld
Advt By , ETHospitalityWorld Join the community of 2M+ industry professionals Subscribe to our newsletter to get latest insights & analysis. Download ETHospitalityWorld App Get Realtime updates Save your favourite articles Scan to download App The Leela Palaces, Hotels and Resorts announced the commencement of the class of 2026 for the Leela Leadership Development Programme (LLDP), the brand's flagship initiative to shape the future leaders of luxury an overwhelming response, The Leela Leadership Development Programme received over 1,400 applications from across the country. After a rigorous multi-stage selection process, 36 exceptional young professionals have been chosen to embark on this transformative 15-month journey that combines immersive real-world experience with world-class academic programme, designed in collaboration with the Indian School of Hospitality (ISH) in alliance with Les Roches , offers a unique platform for participants to accelerate their careers in luxury hospitality through a dynamic blend of on-the-job training, functional immersion, and global classroom at the launch of the new cohort, Anuraag Bhatnagar, chief executive officer, The Leela Palaces, Hotels and Resorts, said: "At The Leela, we put our guests at the centre of everything we do, and it is our people who make us who we are. The Leela Leadership Development Programme is our commitment to investing in future-ready talent who will carry forward our legacy of Indian luxury. We are thrilled to welcome the Class of 2026 and proud to partner with ISH and Les Roches in shaping tomorrow's hospitality leaders."The commencement ceremony for the new batch was held at The Leela Palace New Delhi and unfolded as a memorable evening filled with warmth, inspiration, and celebration. The evening featured a special Ganesh Vandana performance by the talented girls of the Sarvam Shakti NGO, impactful sessions from senior leadership, and heartfelt stories from programme alumni. A key highlight was a lively rapid-fire session with the new participants that offered a glimpse into their aspirations, motivations, and passion for The Leela way of in attendance were Dilip Puri, founder & CEO, Indian School of Hospitality, who shared his vision for the programme, and Joy Dev Chatterjee, programme director, LLDP, who led a fun, engaging interaction with the incoming Leela Leadership Development Programme is available to both internal and external candidates who hold a bachelor's degree in hospitality and at least one year of experience in a luxury hotel. The programme aims to fast-track their growth into managerial roles and ultimately into future general managers within The Leela.
Mint
23-05-2025
- Business
- Mint
Leela to retain its 'niche, complete luxury' hotel identity even after IPO: CEO
The Leela Palaces, Hotels and Resorts, which is set to launch the largest initial public offering (IPO) in India's hospitality space to fund its expansion, is clear that it won't allow scale to dilute its core identity. The luxury hotel chain, operated by Brookfield-backed Schloss Bangalore Ltd, says it will remain a distinct, pure-play luxury brand with a sharp focus on high-end hospitality, as it prepares to raise ₹3,500 via the public offer that opens on Monday. "Ours will be a niche, complete luxury hotel offering," Anuraag Bhatnagar, chief executive officer, Schloss Bangalore Ltd, told Mint. Also Read | IPO-bound Schloss to spread Leela hotels in India, explore new luxury ventures The Leela Palaces IPO price band has been set at ₹413- ₹435 per share. The company's vision is clear, and will be focused on luxury hotels, continuing with its 40-year legacy. "This is a very nuanced and a very niche space we have created. We are the only institutionally managed pure-play luxury hotel company in India and it has taken us years to reach here. It's not easy to perfect this kind of an ecosystem of luxury and we have refined our vision and this will be our moat going forward too," Bhatnagar said. The company has 13 hotels that are currently operational and another 700-odd rooms are in active development across different cities. Leela owns over 10%, or 3,500 of India's luxury hotel inventory of nearly 30,000 rooms. "When we look at industry data, we are charging on an average, 40% premium (or 1.4 times) on our luxury hotel rooms than any other luxury player in the country and luxury rooms themselves charge two-and-a-half times higher in terms of revenue per available room than the regular industry average. This number is ₹15,300, which is higher than the industry average of ₹11,000. We have a long runway ahead" he said. Revenue per available room, or RevPAR, is a metric by which hoteliers measure performance of the total hotel rooms they have. It is calculated by dividing the total room revenue by the total number of rooms available. Also Read | 'Leela deal worth the price; such assets not built quickly' Average daily rates, or the rates that hotels charge per day per room, in the luxury segment are far lower in India than their overseas counterparts, including hotels in the Middle East and Asia Pacific, giving companies like The Leela Palaces more room for growth, Bhatnagar said. According to hospitality consultancy firm Hotelivate's October 2024 report, India had a total branded hotel inventory of approximately 180,000 rooms as of FY24, with around 39% of these falling into the upscale and luxury segments. India now has about 200,000 or more branded hotel rooms, with the number expected to shoot past 300,000 rooms by FY30, according to another hospitality consultancy Horwath HTL. Also Read | Leela, Hyatt or Radisson? Summer brings out India's best hotel deals Bhatnagar said that the hotel sector has experienced a sustained recovery and growth over the past five years, following the pandemic-induced downturn. This resurgence is characterized by a permanent shift towards prioritizing travel and experience-driven consumption. 'There is also now an overlap with the India growth story and the phenomenal rate at which our GDP is growing along with the increase in purchasing power. There were about 70 million-odd households in India a few years ago, which were potentially consuming luxury goods and services. This is expected to triple in the next five years to 200 million households. That's where a huge opportunity lies," he said. Hospitality, traditionally shaped by global consumption trends, has long been central to the luxury goods and services space. Bhatnagar further noted that the country's expanding infrastructure, including the development of new airports and the rising popularity of destinations easily accessible by road from major cities, is significantly contributing to business growth. 'The addressable luxury market is going to increase year on year," he added. While the current number of pure-play inbound international travellers lags, projections indicate a significant increase to 15 million in the coming years, which is expected to substantially boost the business. Leela at present has a near 50-50 split of Indian versus international travellers, which gives it balanced future growth prospects, he added. Earlier, prior to the pandemic, this figure was 65% international travellers versus 35% Indians. The company is reinvesting strategically in its existing hotel portfolio and exploring emerging luxury sub-categories to enhance average daily rates. This includes developing premium offerings such as high-end villas within current properties and establishing exclusive members-only clubs. 'These will all be value drivers that we have built into a system which will play out in the next few years," he said. This will also include its luxury residences which will come up in the next 18 months in Mumbai. Hotels will open in a phased manner till 2028. Schloss Bangalore Ltd earlier this week said it will open its ₹3,500 crore initial public offering on 26 May, making it the largest IPO in the country's hospitality sector to date. The company has scaled down the issue from an earlier ₹5,000 crore plan, citing robust cash flows in recent quarters, and will use the proceeds to fully repay its ₹2,500 crore debt, making it a debt-free business. "We see it as a very positive spin because our primary need of the IPO proceeds was to pay our debt and we had to pay ₹2,500 crore of debt. Our need for capital has gone down. And the size of reduction of the offer for sale (OFS) shows a promoter confidence in the brand and the company," he said. The IPO also comes amid a wave of listings in India's hospitality sector, as rising disposable incomes and a surge in premium travel drive investor interest in hotel chains. The Leela's earnings before interest, taxes, depreciation, and amortization (Ebitda) have grown from ₹600 crore to ₹700 crore from FY24 to FY25. Brookfield had also infused over ₹1,200 crore cash into the business which is sitting on the balance sheet. For the next phase of growth, it will utilize that and the capital on its balance sheets including internal accruals. "We've seen a balance growth across our portfolio and not just from one set of hotels. Food and beverages is a very large part of our business and about 37% comes from it," Bhatnagar added. More than a third, or 35%, of its current inventory of about 1,220 rooms are managed while the remainder are owned. By the end of FY28, the company will have 10 owned hotels, from five now. Along with the listing, Schloss is ramping up expansion with seven new hotels planned over the next three years in cities like Ayodhya, Ranthambore, Gangtok, Srinagar, Bandhavgarh, Agra and Mumbai—targeting demand across spiritual, heritage, wildlife and business travel segments. "The trend of multi-generational travel and spiritual luxury travellers is here to stay. This is where our moat is. The average age of the consumer of luxury is getting younger. Earlier, one associated luxury with a particular age group, but now as we move forward, we find it is getting more democratic and more inclusive," he added. Five of these seven hotels will be owned, while two will be operated through management or franchise agreements, making the company grow from 13 to 20 properties to scale the luxury portfolio in underpenetrated markets. The hotel industry has seen a lot of formalization in the last few yeas, with several players listing themselves while others are still in the process. Prestige Hospitality Ventures Ltd has filed draft papers for a ₹2,700 crore public issue. Ventive Hospitality—a joint venture between Panchshil Realty and Blackstone, filed its preliminary papers with the Sebi in December last year, while Juniper Hotels and Park Hotels last February. Next will be Brigade Hotel Ventures Ltd, which filed its DRHP last December and received approval for a ₹900 crore IPO. Brookfield is a 100% owner of the Leela Hotels. Ankur Gupta, head of Asia Pacific and Middle East for Brookfield's real estate business, said that the company will look to hold about 76% of its ownership post-IPO and will dilute just 24%. Brookfield finalized its $500 million or ₹3,900 crore acquisition of Hotel Leelaventure—the company behind the iconic Leela luxury hotel chain, in 2019.
Zawya
24-03-2025
- Business
- Zawya
Global Hotel Alliance showcases India's luxury hospitality
As India's luxury travel sector experiences unprecedented growth, Global Hotel Alliance (GHA) and two of its hotel brands – The Leela Palaces, Hotels and Resorts and Minor Hotels – have reaffirmed their commitment to the market, unveiling new initiatives to elevate the country's high-end hospitality landscape. India is a key development market for GHA, with GHA DISCOVERY loyalty programme membership in the country growing by 18% in 2024 to 623,000 members. The Leela and Minor Hotels are both tapping into this demand with new luxury offerings appealing to high-end Indian travellers. In a notable shift, international spend by Indian GHA DISCOVERY members (54%) surpassed domestic revenue (46%) for the first time, with Thailand, the UAE, and Singapore as the top international destinations. The Indian travel market's significant growth potential was highlighted at two events staged in Delhi this week, with GHA citing recent research and The Leela and Minor Hotels discussing their market strategies and development plans. Speaking at the Skift India Forum on 18th March, Chris Hartley, CEO, GHA, and Anuraag Bhatnagar, CEO, The Leela Palaces, Hotels and Resorts, revealed how luxury hotel brands are responding to India's burgeoning demand for premium experiences. The conversation continued at a press briefing hosted at The Leela Palace, New Delhi the following day, where Hartley, Bhatnagar and Dillip Rajakarier, CEO, Minor Hotels, highlighted India's growing influence in global travel and luxury hospitality. These discussions explored key trends, including evolving guest preferences, the impact of loyalty programmes, and the future of ultra-luxury hospitality. 'The rapid growth of India's luxury travel market is reflected in the soaring engagement of Indian travellers with our brands worldwide,' said Hartley. 'With record-breaking stay revenue and membership growth in 2024, we are committed to enriching their experiences through an ever-expanding portfolio of world-class hotels and innovative travel benefits.' INTRODUCING THE LEELA'S NEW ULTRA-LUXURY CONCEPT: ARQ BY THE LEELA The Leela Palaces, Hotels and Resorts continues to set new benchmarks for luxury with the introduction of Arq at Pichola - an exclusive collection of ultra-luxury villa spaces designed as the ultimate escape for the discerning elite from around the world. Debuting at The Leela Palace Udaipur, Arq offers an intimate collection of exclusive accommodations, blending Indian heritage with modern sophistication. This evolution aligns with the growing aspirations of affluent Indian and global travellers seeking tailored, high-end experiences. 'India is at the forefront of a new era in luxury hospitality, driven by its dynamic economy, cultural richness and a discerning new generation of travellers seeking immersive experiences. With Arq, we are elevating ultra-luxury to unprecedented levels by creating bespoke sanctuaries that blend India's timeless heritage with innovation. As the country cements its position as a premier luxury destination, The Leela remains committed to setting new benchmarks and shaping the future of luxury hospitality on a global stage,' said Anuraag Bhatnagar, Chief Executive Officer of The Leela Palaces, Hotels and Resorts. MINOR HOTELS EXPANDS IN INDIA WITH ANANTARA'S DEBUT Minor Hotels recently made its foray into India, launching its first luxury property, Anantara Jewel Bagh Jaipur, in November 2024. The luxury retreat marks the beginning of an ambitious growth strategy, with plans to open 50 new properties in India over the next decade. With India's outbound travel forecast to exceed 50 million trips by 2030, Minor Hotels is strategically positioned to cater to this demand across its luxury and premium brands, including Anantara Hotels & Resorts, Avani Hotels & Resorts, and NH Collection. 'The Indian market presents a remarkable opportunity for luxury hospitality, both domestically and internationally,' said Rajakarier. 'With Anantara's debut in Jaipur and our expansion plans, we aim to redefine experiential luxury while deepening our engagement with Indian travellers through our expanding brand portfolio.' He added: 'Indian travellers are increasingly seeking immersive experiences, whether through bespoke wellness retreats, culturally rich stays, or luxury destination weddings. Our strategy is to cater to these evolving preferences by expanding our footprint with brands that align with these aspirations.' LUXURY TRAVEL AND LOYALTY IN INDIA There are more GHA hotel rooms in India than ever before, growing to nearly 3,400 in 2024 to meet the rising demand for luxury stays across the country. But the alliance's commitment to India extends beyond its hotel brand presence, as its latest market research reveals. GHA DISCOVERY, which now includes more than 30 million travellers worldwide, is playing a pivotal role in shaping high-end travel trends. Indian members are increasingly engaging with GHA's 'Signature Luxury' hotels, with premium experiences, room upgrades, and the DISCOVERY Dollars (D$) rewards currency ranking among the most valued benefits. As inbound travel to India flourishes, the country remains a magnet for high-spending travellers, with the US, UK, and Australia leading the top source markets. The combined presence of The Leela and Minor Hotels within GHA's ecosystem positions them at the forefront of India's luxury hospitality growth. 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