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Schloss Bangalore (The Leela) IPO: Initial Trading Performance

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Geetanjali Lachke

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Schloss Bangalore, a hospitality company associated with The Leela Hotels brand, commenced trading on the stock market this week. The company’s shares are listed below the initial public offering (IPO) price on both the BSE and NSE. The listing price was recorded at ₹406.50 on BSE and ₹406 on NSE, falling outside the IPO price band of ₹413 to ₹435 per share.

IPO Listing: Price and Market Reaction

Schloss Bangalore’s shares commenced trading on the BSE at ₹406.50 and on the NSE at ₹406. The IPO price band was established between ₹413 and ₹435 per share. The listing prices were below this specified band.

  • BSE Listing Price: ₹406.50

  • NSE Listing Price: ₹406

  • IPO Price Band: ₹413 – ₹435

IPO Subscription and Capital Raised

The IPO was valued at ₹3,500 Crores, comprising:

  • Fresh Issue: 5.75 Crores shares worth ₹2,500 Crores

  • Offer for Sale (OFS): 2.30 Crores shares worth ₹1,000 Crores

The proceeds from the fresh issue are designated for debt repayment or prepayment across various group properties, such as Schloss Chanakya, Schloss Chennai, and Schloss Udaipur. A portion of the funds will also address general corporate requirements.

Company Overview

Schloss Bangalore, incorporated in 2019, operates luxury properties in major Indian cities and tourist destinations. The company operates within the luxury hospitality sector. Its portfolio includes The Leela Palaces, The Leela Hotels, and The Leela Resorts. The company's operational model involves both direct property ownership and hotel management contracts with third-party entities.

Disclaimer

This content is for informational purposes only and the same should not be construed as investment advice. Bajaj Finserv Direct Limited shall not be liable or responsible for any investment decision that you may take based on this content.

Sources

https://www.business-standard.com/markets/capital-market-news/schloss-bangalore-the-leela-ipo-ends-with-4-50x-subscription-125052900614_1.html

https://economictimes.indiatimes.com/markets/stocks/news/leela-hotels-ipo-set-to-list-today-modest-gmp-hints-at-quiet-debut-despite-brand-value/articleshow/121558961.cms?from=mdr

https://www.livemint.com/market/stock-market-news/leela-hotels-ipo-allotment-date-in-focus-latest-gmp-steps-to-check-share-allotment-status-online-11748492158585.html

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Hi! I’m Geetanjali Lachke
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Geetanjali is an emerging content writer with a passion for writing and marketing. She focuses on crafting clear, engaging blog posts and articles that simplify complex topics, particularly in finance and business. Geetanjali is dedicated to delivering insightful content that helps readers understand and navigate critical concepts, empowering them to make informed decisions and stay ahead in the ever-evolving landscape of finance and business.

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