Schloss Bangalore Ltd. was incorporated on March 20, 2019. The company owns, operates, manages, and develops luxury hotels and resorts under the iconic "The Leela" brand. Its portfolio includes five owned hotels, six managed under hotel management agreements, and one franchised hotel owned and operated by a third party.
| Bidding Dates |
|---|
| 26 May 2025 - 28 May 2025 |
| Subscription |
|---|
| 4.5x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,042 | 1 | 13 | 34 | 80.5 M | ₹413 - ₹435 | 54.92 % | ₹33229.9 M - ₹35000.0 M | RHP DOC |
Schloss Bangalore IPO SUBSCRIPTION STATUS
28 May '25Schloss Bangalore IPO overall subscription rate was 4.5 times the total available shares
Schloss Bangalore IPO retail subscription rate was 0.83 times in the retail segment
Schloss Bangalore IPO non-institutional investor subscription rate was 1.02 times in the non-institutional investor category
Schloss Bangalore IPO Qualified Institutional Bidder subscription rate was 7.46 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 10% | 15% | 75% |
28 May 2025 (Day 3) | 0.83x | 1.02x | 7.46x |
27 May 2025 (Day 2) | 0.41x | 0.11x | 0.11x |
26 May 2025 (Day 1) | 0.2x | 0.03x | 0.03x |
Schloss Bangalore FINANCIALS
| Period | Net Profit (Rs in crore) | Revenue from Operations (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY25 | 47.7 | 1,300.6 | 552.9 | 152.4 | 49.8% |
| FY24 | -2.1 | 1,171.5 | 538.8 | 4,189.1 | 48.9% |
| FY23 | -61.7 | 860.1 | 318.3 | 2,331.8 | 46.9% |
Schloss Bangalore IPO SUBSCRIPTION STATUS DETAILS
Schloss Bangalore had 80.5 M shares on offer
Schloss Bangalore IPO offer price was in the range ₹413 - ₹435
Schloss Bangalore IPO minimum Investment was ₹14042
Schloss Bangalore IPO issue size was ₹ 33229.9 M - ₹ 35000.0 M
Schloss Bangalore had a minimum lot size of 34 Shares per application
Schloss Bangalore NUMBER OF SHARES ON OFFER
Schloss Bangalore IPO IMPORTANT DATES
| Issue Open Date | 26 May 2025 |
| Issue close Date | 28 May 2025 |
| Allotment Date | 29 May 2025 |
| Refund Date | 30 May 2025 |
| Demat Account Credit Date | 30 May 2025 |
| Listing Date | 02 Jun 2025 |
| Listing on Exchange(s) | NSE and BSE |
| Schloss Bangalore Allotment Status | Exchange/ Registrar |
Schloss Bangalore IPO subscription opened on 26 May 2025, and closed on 28 May 2025
IPO allotment for Schloss Bangalore was finalized on Thursday, 29 May 2025
IPO listing for Schloss Bangalore was on NSE and BSE on Monday, 02 Jun 2025
Schloss Bangalore IPO LISTING GAINS
| Issue Price (adjusted) | 435.0 |
| Listing Open Price | 406.0 |
| Listing Close Price | 435.6 |
| Listing Gain% | -6.7% |
| Current Gain% | 17.6% |
Schloss Bangalore Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Leela Palaces Hotels & Resorts Ltd. | 511.6 | 18261.4 | 38.6 | 0.2 | 10.6 | 6.3 | 4.5 | 1597.8 | 13.6 | 403.1 | 742.9 | 13.3 | 236.8 |
| Indian Hotels Company Ltd. | 727.2 | 103519.1 | 48.2 | 5 | 10.4 | 16 | 10.3 | 9971.4 | 16.4 | 2084.4 | 9.3 | 15.1 | 9.7 |
| ITC Hotels Ltd. | 170.4 | 35489.8 | 41.1 | 1.5 | 8.3 | 7 | 6 | 4331.3 | 19.4 | 816.9 | 28.7 | 4.1 | 26.9 |
| EIH Ltd. | 305.7 | 19117.4 | 26.9 | 6 | 6.3 | 11.9 | 9.6 | 3105.7 | 7.9 | 628.3 | -15 | 11.4 | 4.5 |
| Chalet Hotels Ltd. | 834.5 | 18275.1 | 34.6 | 0.4 | 7.7 | 17.4 | 8.8 | 2812.4 | 60.3 | 645.1 | 352.5 | 24.1 | 85.3 |
| Ventive Hospitality Ltd. | 599.4 | 13998.5 | 29.2 | 0.2 | 5.6 | 7.7 | 4 | 2666.1 | 59.4 | 425.6 | 253.8 | 20.5 | 134 |
Schloss Bangalore INFORMATION ON IPO ISSUE
About Schloss Bangalore
Schloss Bangalore Ltd. was incorporated on March 20, 2019. The company owns, operates, manages, and develops luxury hotels and resorts under the iconic "The Leela" brand. Its portfolio includes five owned hotels, six managed under hotel management agreements, and one franchised hotel owned and operated by a third party.
Object of the Issue
- Repayment/ prepayment/ redemption, in full or in part, of certain outstanding borrowings availed by the company and their subsidiaries, namely, Schloss Chanakya, Schloss Chennai, Schloss Udaipur, and TPRPL
- General corporate purposes
Schloss Bangalore - PROMOTERS
| Name |
|---|
| Project Ballet Bangalore Holdings (DIFC) Pvt Ltd |
| BSREP III Joy (Two) Holdings (DIFC) Limited |
| BSREP III Tadoba Holdings (DIFC) Pvt Ltd |
| Project Ballet Chennai Holdings (DIFC) Pvt Ltd |
| Project Ballet Gandhinagar Holdings (DIFC) Pvt Ltd |
| Project Ballet HMA Holdings (DIFC) Pvt Ltd |
| Project Ballet Udaipur Holdings (DIFC) Pvt Ltd |
Schloss Bangalore Book Running Lead Managers
JM Financial Limited
leelahotels.ipo@jmfl.com
BofA Securities India Limited
dg.leelahotels_ipo@bofa.com
Morgan Stanley India Company Private Limited
leelaipo@morganstanley.com
J.P. Morgan India Private Limited
leela_ipo@jpmorgan.com
Kotak Mahindra Capital Company Limited
leelahotels.ipo@kotak.com
Axis Capital Limited
leela.ipo@axiscap.in
Citigroup Global Markets India Private Limited
leelahotelsipo@citi.com
IIFL Securities Limited
leelahotels.ipo@iiflcap.com
ICICI Securities Limited
leelahotels.ipo@icicisecurities.com
Motilal Oswal Investment Advisors Limited
leelahotelsipo@motilaloswal.com
SBI Capital Markets Limited
leelahotels.ipo@sbicaps.com
Schloss Bangalore Registrar to the Offer
KFin Technologies Limited
leelahotels.ipo@kfintech.com
Schloss Bangalore Strengths
Rich heritage and global appeal
The company's properties are renowned for their exceptional architecture, guest facilities, and services, consistently receiving top rankings from publications like Travel + Leisure and Conde Nast Traveler
Marquee owned hotels
The company's portfolio features five iconic hotels with 1,216 keys in key Indian destinations: Bengaluru, Chennai, New Delhi, Jaipur, and Udaipur. Blending traditional architecture with modern luxury, these hotels achieved an 11.8% CAGR in RevPAR from FY19-24, outpacing the luxury sector's 8.6% CAGR
Diversified revenue sources
The hotels in the company’s portfolio offer a comprehensive luxury ecosystem that meets evolving customer preferences with luxurious accommodations, curated experiences, and award-winning dining and wellness options. This approach attracts a diverse clientele, including leisure and business travelers, and diversifies revenue through non-room sources like F&B, MICE, and banqueting
Schloss Bangalore Risks
Geographically concentrated
A significant portion of the company's income comes from five hotels, with 28.7% from Bengaluru, 18% from Chennai, 24.5% from New Delhi, 14.5% from Jaipur, and 8.1% from Udaipur in FY24. Adverse developments at these locations could negatively impact its business and financial performance
Quality and reputation
The performance and quality of services at the hotels in the company’s portfolio are crucial for business success. Although quality checks are implemented, the company cannot guarantee consistent maintenance of the desired service standards
Renovation, development and expansion
The company faces risks related to the renovation, development, and expansion of new and existing hotels. Delays in construction or renovation could negatively impact its business, financial condition, and operational results
IPO FAQs
This IPO consists of an offer for sale of up to Rs 1,000.0 crore, of 22,988,505 shares. It also consists of a fresh issue of Rs 2,500.0 crore.
The promoters of the company are Project Ballet Bangalore Holdings (DIFC) Pvt Ltd, BSREP III Joy (Two) Holdings (DIFC) Limited, BSREP III Tadoba Holdings (DIFC) Pvt Ltd, Project Ballet Chennai Holdings (DIFC) Pvt Ltd, Project Ballet Gandhinagar Holdings (DIFC) Pvt Ltd, Project Ballet HMA Holdings (DIFC) Pvt Ltd and Project Ballet Udaipur Holdings (DIFC) Pvt Ltd.
The category allocation of qualified institutional buyers is 75.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 10.0%.
The price band of the IPO is Rs 413.0 - 435.0.
The IPO application opens on May 26, 2025 and closes on May 28, 2025.
The minimum lot size for the IPO is 34. The maximum lot size for the IPO is 442.
For all category investors, the minimum application amount for this IPO is Rs. 14,042.0, the maximum value for this IPO is Rs 192,270.0.
This IPO will be allotted on May 29, 2025.
The refund will be credited to your account on May 30, 2025.
The allotted shares will be credited to your demat on May 30, 2025.
Schloss Bangalore Ltd.’s shares listed on the stock exchanges on Jun 02, 2025.