Schloss Bangalore, the operator of the renowned “The Leela Hotels” luxury hotel brand in India, is set to launch its initial public offering (IPO) on May 26, 2025. The IPO aims to raise ₹3,500 crore, comprising a fresh issue of ₹2,500 crore and an offer for sale (OFS) of ₹1,000 crore.
The company will close the three-day public issue on May 28 and expects to list its shares on both the BSE and NSE on June 2. The company has not yet disclosed the price band or lot size. Backed by Brookfield, the hospitality major reduced its IPO size by 30% from the initially proposed ₹5,000 crore.
Anchor investors will be able to place their bids on May 23. Although the company has not explained the reason for reducing the issue size, JM Financial, Kotak Mahindra Capital, Axis Capital, Morgan Stanley, and SBI Capital are managing the IPO, while KFin Technologies is serving as the registrar.
The company has reserved up to 75% of the IPO for Qualified Institutional Buyers (QIBs), allocating up to 60% of that portion—around ₹1,575 crore—for anchor investors. It has also allocated 15% of the issue to non-institutional investors and set aside the remaining 10% for retail investors.
Founded in 2019, Schloss Bangalore ranks among India’s largest luxury hospitality companies by room count. As of May 2024, it operates 12 properties with a total of 3,382 keys under The Leela Hotels, Palaces, and Resorts brand.
Five of these properties—located in Bengaluru, Chennai, New Delhi, Jaipur, and Udaipur—are fully owned by the company. These hotels combine traditional Indian architectural elegance with modern luxury, catering to premium business and leisure travellers.
In addition to its hotel accommodations, Schloss Bangalore operates 67 fine-dining restaurants and bars, along with 12 wellness centres. Its flagship spa at The Leela Palace Bengaluru is being developed in partnership with luxury wellness brand Soneva.
The company will issue fresh shares worth ₹2,500 crore—revised down from the initially planned ₹3,000 crore—while Brookfield will sell shares worth ₹1,000 crore, half of its original offer size. The company will primarily use the proceeds from the fresh issue to repay debt, allocating ₹2,300 crore for loan repayment and the remaining amount for general corporate purposes.
A consortium of top investment banks—including JM Financial, BofA Securities India, Morgan Stanley India, JP Morgan India, Kotak Mahindra Capital, Axis Capital, Citigroup Global Markets India, IIFL Capital Services, ICICI Securities, Motilal Oswal Investment Advisors, and SBI Capital Markets—is managing the IPO. KFin Technologies serves as the registrar to the issue.
The upcoming IPO of Schloss Bangalore marks a significant step for the company as it looks to strengthen its financial position and expand its footprint in India’s luxury hospitality sector.
Operating under the iconic “The Leela” brand, Schloss Bangalore has established itself as a major player with a portfolio of premium properties, fine-dining experiences, and wellness offerings. The public issue not only reflects investor confidence in the luxury hotel space but also signals growth potential for The Leela Hotels brand as it continues to cater to high-end business and leisure travelers across the country.
