Latest news with #LeelaHotels
India Today
an hour ago
- Business
- India Today
Prostarm Info Systems IPO listing: Will it make strong market debut? Check GMP
Shares of Prostarm Info Systems Limited will be listed on the stock exchanges on Tuesday, June 3, after receiving strong demand from investors during its public listing of Prostarm Info Systems comes at a time when recent mainboard IPOs have not performed very well on debut. Companies like Leela Hotels (Schloss Bangalore Limited), Aegis Vopak Terminals, Belrise Industries, and Borana Weaves have recently listed, but none of them have seen strong or bumper Info Systems company's initial public offering (IPO) was open for bidding from May 27 to May 29, 2025, and saw a total subscription of 96.68 IPO received 39.48 times subscription in the retail category. Qualified Institutional Buyers (QIBs) subscribed 102.67 times, while the Non-Institutional Investors (NIIs) category was subscribed 222.13 times. This shows the high level of interest the IPO attracted from different types of price band for Prostarm Info Systems IPO was set at Rs 105 per share. The minimum lot size for retail investors was 142 shares, meaning an investor had to apply for at least one lot worth Rs 13,490. However, due to the high demand, retail investors were advised to bid at the cutoff price, which brought the investment to around Rs 14, small NIIs (sNIIs), the minimum lot size was 14 lots, or 1,988 shares, with a total value of Rs 2,08,740. For big NIIs (bNIIs), the minimum lot size was 68 lots, or 9,656 shares, with a total application amount of Rs 10,13, allotment for the IPO was finalised on Friday, May 30, 2025. Investors who got allotment will see the shares credited to their demat accounts before the listing to the latest data, the Grey Market Premium (GMP) for Prostarm Info Systems IPO stood at Rs 12. With the issue price of Rs 105 and GMP of Rs 12, the estimated listing price is around Rs 117. This indicates a possible gain of 11.43% over the issue price, based on grey market it is important to note that grey market premiums are unofficial and can change quickly. They do not guarantee actual listing performance on the day of debut. advertisement
India Today
20 hours ago
- Business
- India Today
Leela Hotels share price: Stock lists at 7% discount on Dalal Street
Shares of Leela Hotels began trading on the stock market on Monday, making a weak start on Dalal Street. The company's stock opened at Rs 406 on the NSE, which is Rs 29 below the issue price of Rs 435. On the BSE, it opened slightly higher at Rs 406.50, still lower by Rs 28.50, or about 6.55%. This means the stock listed at nearly a 7% discount to its issue poor listing shows that investors are being cautious, even though the company has a strong brand name and has shown improvement in its financial Hotels launched its initial public offering (IPO) last week. The company aimed to raise Rs 3,500 crore in total. Of this, Rs 2,500 crore came from a fresh issue of shares and Rs 1,000 crore from an offer for sale by existing shareholders. The IPO was priced at Rs 435 per IPO was subscribed 4.72 times overall. While demand from large institutional investors was strong, with the Qualified Institutional Buyers (QIB) portion subscribed 7.82 times, the interest from retail investors and high-net-worth individuals (HNIs) was much lower. Retail investors subscribed only 0.87 times their portion, and the Non-Institutional Investors (NII) segment was subscribed 1.08 Hotels is backed by funds managed by Brookfield and owns five luxury hotels in cities such as Bengaluru, Chennai, New Delhi, Jaipur, and Udaipur. The company also manages several other hotels under the Leela brand through contracts. Altogether, it operates 12 hotels with a total of 3,382 rooms, making it one of the biggest luxury hotel operators in the the financial year ending March 2025, Leela Hotels made a profit of Rs 47.66 crore. This was a big improvement from the previous year, when it had posted a loss of Rs 2.13 crore. Revenue for the year rose by 15% to reach Rs 1,406.56 this improvement, some experts feel that the IPO was priced too high. After the issue, the company's price-to-earnings (P/E) ratio stands at over 213 times, which many consider to be expensive. This could be one reason why the listing was not money raised through the fresh issue will be used to pay back loans taken by the company for some of its hotels in Udaipur, Chennai, and Delhi. A part of the funds will also be used for general corporate IPO offered a minimum investment of Rs 14,042 for retail investors applying at the lower end. However, those who wanted to ensure allotment were advised to apply at the cut-off price, raising the investment amount to Rs 14,790. For small NIIs, the minimum investment stood at Rs 2,07,060, and for big NIIs, it was Rs 10,05,720. advertisement
Mint
21 hours ago
- Business
- Mint
Leela Hotels shares: Should you buy, hold or sell after a weak listing?
Leela Hotels share price made a tepid debut in the Indian stock market today amid weak sentiment. The equity shares of luxury hospitality chain Schloss Bangalore, which operates hotels under the brand 'The Leela' in India, were listed at a discount to their initial public offering (IPO) price on the stock exchanges today. Leela Hotels share price was listed at ₹ 406 apiece on the NSE, a discount of 6.67% to its IPO price of ₹ 435 per share. On the BSE, Leela Hotels stock got listed with a 6.55% discount at ₹ 406.50 per share. After the listing, Leela Hotels shares gained over 7% from its listing price and traded marginally higher from its IPO price. Leela Hotels IPO listing was slightly weaker than Street estimates as the Leela Hotels IPO GMP signalled a flat debut. However, analysts are bullish on the long-term prospects of the company despite a muted listing of shares. Here's what analysts suggest to do with Leela Hotels shares after listing. Despite weak market sentiment, Leela Hotels' IPO debuted flat in line with our expectations, said Prashanth Tapse, Senior VP Research at Mehta Equities Ltd. 'We view the company as a compelling long-term play, aligned with the structural growth in India's luxury hospitality and tourism sector. We recommend allotted investors to HOLD Leela Hotels shares for a long-term perspective, as the company is well positioned to benefit from improving macro trends in travel and high-end hospitality,' Tapse said. According to Avinash Gorakshakar, Head of Research at Profitmart Securities, Leela Hotels is a good long term story, but he believes the valuations in near term are not cheap which resulted in the stock opening lower than the IPO price. 'Investors looking at a time frame of next 2 to 3 years can expect a decent risk reward in Leela Hotels shares,' Gorakshakar said. Leela Hotels IPO opened for subscription from May 26 to May 28, 2025. Leela Hotels IPO listing date was today, 2 June, 2025, and the shares are listed on BSE and NSE. The company raised ₹ 3,500 crore from the public issue at a price band of ₹ 435 per share. Leela Hotels IPO was subscribed 4.50 times in total It plans to utilise the net issue proceeds for repayment in full or in part, of certain outstanding borrowings availed by the company, and its subsidiaries, and for general corporate purposes. Schloss Bangalore is one of India's largest luxury hospitality companies by number of keys, with a portfolio of 12 operational hotels comprising 3,382 keys. At 1:25 PM, Leela Hotels share price was trading at ₹ 433.65 apiece on the BSE, higher by 6.68% from its listing price, and down by 0.31% from its IPO price. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Business Standard
a day ago
- Business
- Business Standard
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.
Mint
a day ago
- Business
- Mint
Leela Hotels IPO shares list at ₹406, a 6.7% discount to issue price
Leela Hotels IPO listing: Luxury hospitality chain Schloss Bangalore, which operates hotels under the brand "The Leela" in India, witnessed a tepid stock market debut on Monday, June 2. Leela Hotels IPO shares listed at around a 6.5% discount to their initial public offering (IPO) price on the exchanges today. On the NSE, Leela Hotels share price opened at ₹ 406, down 6.67% from its IPO price of ₹ 435. Meanwhile, on the BSE, Leela Hotels stock debuted at a 6.55% discount at ₹ 406.50. The listing was below the Leela Hotels' IPO GMP of ₹ 2 apiece earlier today. Leela Hotels' stock, however, recouped some losses as the session progressed, rising over 4% above its listing price, but still nearly 2% below the IPO price. As of 10.17 am, the stock traded at ₹ 425, up 4.55% over the listing price of ₹ 406.50. On the NSE, the stock was at ₹ 424.65, up 4.6%. The Leela Hotels IPO, which ran for subscription from May 26 to May 28, was priced in the range of ₹ 413 to ₹ 435 per share. The issue garnered decent subscription and received 4.72 times at the end of the three-day bidding process. The retail portion was booked 0.87 times, the non-institutional portion was subscribed 1.08 times, and the qualified institutional buyers portion garnered 7.82 times bids. The company raised ₹ 3,500 crore via the public issue, which was a mix of fresh shares and an offer for sale (OFS). The IPO consisted of the sale of 5.75 crore fresh equity shares, amounting to ₹ 2,500 crore and an OFS component of 2.30 crore shares, worth ₹ 1,000 crore. The company plans to use the funds raised via fresh issue to repayment/ repayment/ redeem, in full or in part, certain outstanding borrowings availed by the company and its subsidiaries, along with general corporate purposes. JM Financial, Bofa Securities India, Morgan Stanley India Company, JP Morgan India, Kotak Mahindra Capital Company, Axis Capital, Citigroup Global Markets India, IIFL Securities, Motilal Oswal Investment Advisors, and SBI Capital Markets were the book-running lead managers of the Leela Hotels IPO, while Kfin Technologies was the IPO registrar.
