Latest news with #TheLeela
Skift
a day ago
- Business
- Skift
The Leela Has Soft Debut, but Now Has IPO Cash
The Leela did everything right - the product was impeccable and the marketing was on-point. But it might have been betrayed by the intimidating "largest-in-Indian-hospitality" IPO size. The Leela's parent company Schloss Bangalore debuted on the Indian stock exchanges Monday at INR 406 ($4.74) - 7% below its IPO price. By Tuesday's close, it had only modestly recovered. The muted investor response comes despite high anticipation for the $400 Million IPO of the luxury chain – the largest in the Indian hospitality industry. Other recent travel IPOs
Time of India
a day ago
- Business
- Time of India
The Leela is alloted plot in BKC for hotel
Mumbai: Schloss Bangalore (The Leela) has received MMRDA's allotment for a 2.1 acre commercial plot in Bandra-Kurla Complex (BKC) to set up a 250-room luxury hotel. The consortium backed by Brookfield Asset Management-backed Schloss Bangalore will pay the MMRDA a lease premium of Rs 1,302 crore for the plot. Tired of too many ads? go ad free now The hospitality company owns and operates the Leela Palaces, Hotels and Resorts and plans to develop a mixed-used project including a 250-key luxury hotel in BKC. According to a spokesperson, 25% of the total lease premium is payable within two months of the offer of allotment and the remaining 75% within 10 months thereafter. The possession of the plot will be handed over after payment of the total lease
Entrepreneur
2 days ago
- Business
- Entrepreneur
Leela Hotels debuts at 6% discount, ends 7% higher at ₹435.55
Shloss Bangalore IPO ended 7.15 per cent higher on the BSE at INR 435.55 against the initial listing price of INR 506.50, a discount of 6 per cent on the issue price of INR 435. Opinions expressed by Entrepreneur contributors are their own. You're reading Entrepreneur India, an international franchise of Entrepreneur Media. Shloss Bangalore IPO ended 7.15 per cent higher on the BSE at INR 435.55 against the initial listing price of INR 506.50, a discount of 6 per cent on the issue price of INR 435. Brookfield Asset Management-owned Schloss, which operates 'The Leela' brand in the luxury segment in India, made what is described can be described as a 'subdued' debut on the stock exchanges. On the NSE, the stock was listed at INR 406, whereas in BSE it was listed at INR 406.50, less then the issue price of INR 435. The price band for the issue was INR 413-435 per share, with the lot size being 34 equity shares and in multiples of 34 equity shares thereafter. The company has allotted 75 per cent of the shares for QIBs, 15 per cent for 15 per cent for non-institutional investors (NII), and 10 per cent reserved for retail investors. Schloss Bangalore is known for its premium segment offering in the hospitality industry under 'The Leela' brand and currently operates 3,382 rooms across 12 properties. Schloss also raised INR 1,575 crores from its anchor investors. Priyanka Madnani, Founder & CEO of Terex Ventures, said that even with a strong brand like The Leela, Schloss Bangalore's listing at a 7 per cent discount shows that investors are becoming more careful. "Today, people don't just invest because of a big name, they want solid numbers, future growth, and clear returns. Hospitality is still seen as a seasonal play, and unless companies clearly show steady income and long-term value, investors will stay cautious. This is a reminder for all upcoming IPOs: a famous brand helps, but performance, transparency, and investor trust matter much more in today's market. Madnani added that the IPO, despite attracting decent interest, the weak listing was caused by a broader market dip and global worries. The issue was subscribed 4.5 times, despite possessing strong brand value, due to a cautious investor sentiment. In FY24, the hospitality company recorded positive growth, with its EBITDA at INR 600.03 crore, up from INR 87.72 crore in FY22. Market analysts also noted that the selling intensified due to foreign investors withdrawing funds. Aditya Birla Money Ltd, said that Schloss Bangalore also has a 'strong track record in driving operational efficiency backed by a strong promoter and is promoted by PE funds which are managed and/or advised by affiliates of Brookfield, one of the world's largest alternative asset managers and investors with over USD 1 trillion n of AUM as of FY25, across various asset classes. The company also has a track record of delivering superior EBITDA margins and increased RevPAR for its owned portfolio, driven by operational efficiencies Key institutions behind the listing include Investment bankers such as JM Financial, Morgan Stanley, BofA Securities, Kotak, Axis Capital, Citi, and SBI Caps. KFin Technologies was the registrar for the issue.
Time of India
2 days ago
- Business
- Time of India
Leela hotels makes weak market debut, list 7% below IPO price
NEW DELHI: Luxury hotel chain Schloss Bangalore Ltd, which operates the iconic "The Leela" brand in India, made a subdued debut on the stock exchanges on Monday, listing at a discount of nearly 7% from its issue price. The stock listed at Rs 406 on the NSE and Rs 406.50 on the BSE , lower than the IPO issue price of Rs 435. The IPO was open for subscription from May 26 to May 28, with a price band of Rs 413 to Rs 435 per share. Despite strong brand value and expanding operations, investor sentiment remained cautious. The IPO, which was subscribed 4.5 times. As of May 2024, Schloss Bangalore operates 12 luxury properties across 10 Indian cities, with a total of 3,382 rooms under The Leela Palaces, Hotels, and Resorts. Indian benchmark indices Sensex and Nifty witnessed a sharp decline on Monday morning, influenced by negative trends across Asian markets and growing global trade worries. According to market analysts, the selling pressure intensified due to continued withdrawal of funds by foreign investors. The BSE Sensex index fell by 762.24 points to reach 80,688.77 during early trading hours. Similarly, the NSE Nifty declined by 212.25 points to 24,538.45. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Business Standard
3 days ago
- Business
- Business Standard
Schloss Bangalore (The Leela) slides on debut
Shares of Schloss Bangalore (The Leela) were currently trading at Rs 424.90 at 10:20 IST on the BSE, representing a discount of 2.32% compared with the issue price of Rs 435. The scrip was listed at Rs 406.50, exhibiting a discount of 6.55% to the issue price. So far, the stock has hit a high of 426.90 and a low of 404.45. On the BSE, over 2.60 lakh shares of the company were traded in the counter so far. The initial public offer (IPO) of Schloss Bangalore (The Leela) was subscribed 4.50 times. The issue opened for bidding on Monday, 26 May 2025 and it closed on Wednesday, 28 May 2025. The price band of the IPO is fixed between Rs 413 and 435 per share. The IPO consisted of a fresh issue of Rs 2500 crore and an offer-for-sale (OFS) of up to Rs 1,000 crore. At the higher price band of Rs 435, the OFS comprises up to 5,74,71,264 shares by Project Ballet Bangalore Holdings (DIFC) Pvt Ltd. Out of the proceeds from the fresh issue, Rs 2300 crore will be used for repayment/prepayment/redemption, in full or in part, of certain borrowings availed of by the company and its subsidiaries, and the balance for general corporate purposes. Ahead of the IPO, Schloss Bangalore (The Leela) on Friday, 23 May 2025, raised Rs 1,574.99 crore from anchor investors. The board allotted 3,62,06,896 shares at Rs 435 each to 47 anchor investors. Schloss Bangalore (The Leela) is a luxury hospitality company operating under "The Leela" brand in India. It owns, operates, manages, and develops luxury hotels and resorts, offering premier accommodations and personalized services inspired by Indian hospitality. The owned portfolio comprises five landmark hotels across key business and leisure destinations: Bengaluru, Chennai, New Delhi, Jaipur, and Udaipur. For the financial year 2025, the company derived 56.96% of its room revenues from retail and leisure guests, 16.97% from corporate bookings, and 25.45% from group bookings, demonstrating the strength of the diversified customer base. As of March 31, 2025, Schloss Bangalore is one of Indias largest luxury hospitality companies by number of keys, with a portfolio of 13 operational hotels comprising 3,553 keys. The portfolio includes The Leela Palaces, The Leela Hotels, and The Leela Resorts. The company operates through direct ownership and hotel management agreements with third-party owners. The firm reported a consolidated net profit of Rs 47.66 crore and revenue from operations of Rs 1,300.57 crore for the financial year 2024-25.
