Leela Hotels Lists at a Discount of More Than 6%

Mumbai | June 2, 2025: Leela Hotels stock got listed today at a discount of 6.7%, over its issue price, at NSE today.

Listing Details

On the National Stock Exchange (NSE), Leela Hotels opened at ₹406, a 6.67% drop from its IPO price of ₹435. A similar trend followed on the Bombay Stock Exchange (BSE), where the shares debuted at ₹406.50, reflecting a 6.55% decline.

Post-Listing Movement

The stock showed a partial rebound after the opening. By 10:17 AM, shares on the BSE climbed to ₹425, registering a 4.55% gain from the listing price, though still nearly 2% below the IPO price. On the NSE, it traded at ₹424.65, a 4.6% intraday rise from the opening level.

IPO Snapshot

Leela Hotels’ IPO, open from May 26 to May 28, was priced between ₹413 and ₹435 per share. The company successfully raised ₹3,500 crore, comprising:

• Fresh Issue: 5.75 crore shares, totalling ₹2,500 crore
• Offer-for-Sale (OFS): 2.30 crore shares, valued at ₹1,000 crore

Lead Managers and Registrar

The offering was backed by top-tier financial institutions, including JM Financial, Bofa Securities India, Morgan Stanley India, JP Morgan India, Kotak Mahindra Capital, Axis Capital, Citigroup Global Markets, IIFL Securities, Motilal Oswal Investment Advisors, and SBI Capital Markets. The registrar to the issue was Kfin Technologies.

Investor Sentiment

Despite a well-recognised brand and significant capital raised, the underwhelming listing indicates a cautious market mood. The discount on debut and limited post-listing recovery suggest that valuation concerns or broader market conditions may have curbed investor enthusiasm.

Leela Hotels’ stock performance will be monitored closely in the coming days to gauge whether it can cross its IPO price and generate sustained investor confidence.

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