Latest news with #LeelaPalacesHotelsandResorts
News18
02-06-2025
- Business
- News18
Leela Hotels' Shares List At 6.6% Discount: Should You Buy, Hold Or Sell?
Last Updated: 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
Time of India
27-05-2025
- Business
- Time of India
Schloss Bangalore IPO: Leela Palaces Parent Firm Opens to Mixed Response on Day 1, ET HospitalityWorld
Advt 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 initial public offer of Schloss Bangalore, which operates Leela Palaces Hotels and Resorts , subscribed 6 per cent on the first day of bidding on Monday. The initial share sale received bids for 28,75,176 shares against 4,66,10,169 shares on offer, as per NSE data The category for retail individual investors (RIIs) received 20 per cent subscriptions while the quota for non-institutional investors subscribed 3 per cent. The portion for qualified institutional buyers (QIBs) received a 3 per cent Bangalore Ltd has garnered INR 1,575 crore from anchor investors. The issue, with a price band of INR 413-435 per share, will conclude on May 28. The company's INR 3,500-crore IPO is a combination of a fresh issue of equity shares worth INR 2,500 crore and an offer for sale (OFS) of stocks valued at Rs 1,000 crore by promoter Project Ballet Bangalore Holdings (DIFC) Pvt Bangalore, which is backed by Brookfield Asset Management , plans to use the proceeds of the fresh issue to pay loans availed by the company and its subsidiaries and for general corporate Bangalore, known for its luxurious hotels and resorts under "The Leela" brand, had a portfolio of 3,382 keys across 12 operational hotels as of May 31, 2024. Its portfolio includes The Leela Palaces, The Leela Hotels, and The Leela Resorts, located across 10 destinations in the IPO is being managed by a consortium of 11 merchant bankers -- JM Financial, BofA Securities India, Morgan Stanley India Company, JP Morgan India, Kotak Mahindra Capital Company, Axis Capital, Citigroup Global Markets India, IIFL Securities, ICICI Securities, Motilal Oswal Investment Advisors, and SBI Capital Markets.
