Schloss Bangalore IPO Sees 4.49x Overall Subscription on Closing Day
By HDFC SKY | Updated at: May 31, 2025 10:46 PM IST
Mumbai, May 28, 2025 — The IPO of Schloss Bangalore Limited, a luxury hospitality brand operator, closed today with strong demand across segments. The offering saw an overall subscription of 4.49 times, driven primarily by heavy interest from institutional investors.
IPO Snapshot
| Detail | Info |
|---|---|
| Issue Opens | May 26, 2025 |
| Issue Closes | May 28, 2025 |
| Price Band | ₹413 – ₹435 per share |
| Issue Size | ₹3,500 crore (₹2,500 Cr fresh + ₹1,000 Cr OFS) |
| Lot Size | 34 shares and multiples thereof |
| Listing Exchange | NSE & BSE Mainboard |
| Registrar | KFin Technologies Ltd |
| Bookrunners | JM Financial, BofA, Morgan Stanley, J.P. Morgan, Kotak, Axis Capital, Citi, IIFL, ICICI Sec, Motilal Oswal, SBI Caps |
| Final GMP | Not disclosed officially |
Final Day Subscription Breakdown
| Category | Shares Offered | Bids Received | Subscription (x) |
|---|---|---|---|
| Qualified Institutional Buyers (QIBs) | 2,54,23,729 | 18,96,63,322 | 7.46x |
| Non-Institutional Investors (NIIs) | 1,27,11,864 | 1,29,38,292 | 1.02x |
| Retail Individual Investors (RIIs) | 84,74,576 | 68,53,924 | 0.81x |
| Total | 4,66,10,169 | 20,94,55,538 | 4.49x |
The IPO received over 20.94 crore bids for the 4.66 crore shares on offer. Qualified Institutional Buyers (QIBs) were the most aggressive, subscribing 7.46 times their reserved quota, with strong participation from foreign investors, mutual funds, and other institutions.
Company Overview
Schloss Bangalore Limited manages and owns premium hotel properties under “The Leela” brand. It currently operates 12 hotels comprising 3,382 keys. For FY24, the company reported revenue of ₹1,226.5 crore and boasted the highest EBITDA margin among Indian peers in the luxury hospitality space.
Key Considerations
- Persistent net losses and a negative net worth of ₹2,784 crore (as of May 31, 2024)
- Significant debt burden of approximately ₹4,042 crore
- High revenue dependency on the top five hotel properties
- No previous listing history; this marks its first entry into public markets
What’s Next
The basis of allotment will be determined shortly, with shares expected to be listed on both the NSE and BSE. Investors are watching closely for potential listing gains amid strong institutional demand and optimism in the hospitality sector.
Note: Investors are advised to refer to the final prospectus and consult with their financial advisors before making any investment decisions.
Disclaimer: This content is only for informational purpose. It does not make any recommendation to act or invest. Please read the offer documents carefully before investing. Investments are subject to market risks and other risks. There is no guarantee of the actual returns that will be given.
REF: https://www.nseindia.com/market-data/issue-information?symbol=THELEELA&series=EQ&type=Active
