Mumbai: Schloss Bangalore Limited, the luxury hospitality firm known for its flagship brand The Leela, has announced the launch of its highly anticipated initial public offering (IPO) of equity shares. The IPO will open for subscription on Monday, May 26, 2025, and close on Wednesday, May 28, 2025.
The IPO consists of a fresh issue of equity shares worth ₹2,500 crore and an offer for sale (OFS) of ₹1,000 crore by Project Ballet Bangalore Holdings (DIFC) Pvt Ltd, the promoter selling shareholder. The total IPO size aggregates to ₹3,500 crore.
Schloss Bangalore Limited: Price Band and Lot Size
Schloss Bangalore IPO price band has been set between ₹413 and ₹435 per equity share with a face value of ₹10 each. Investors can bid for a minimum of 34 equity shares and in multiples thereafter. The Anchor Investor Bidding will open on Friday, May 23, 2025.
Listing and Book Running Lead Managers
The equity shares will be listed on BSE and NSE, with NSE designated as the lead exchange for this offering. The IPO is being conducted through the Book Building Process, in line with SEBI’s ICDR Regulations.
Book Running Lead Managers (BRLMs) for the IPO include:
- JM Financial
- BofA Securities
- Morgan Stanley India
- J.P. Morgan India
- Kotak Mahindra Capital
- Axis Capital
- Citigroup Global Markets India
- IIFL Capital Services
- ICICI Securities
- Motilal Oswal Investment Advisors
- SBI Capital Markets
Investor Allocation Details
- 75% of the Offer is reserved for Qualified Institutional Buyers (QIBs)
- 15% for Non-Institutional Investors (NIIs)
- 10% for Retail Individual Investors (RIIs)
Up to 60% of the QIB portion may be allocated to Anchor Investors on a discretionary basis. The IPO follows the Application Supported by Blocked Amount (ASBA) process, with UPI applicable for retail bidders. Anchor Investors will not use the ASBA mechanism.
If the minimum subscription from QIBs is not met, the entire application money will be refunded.
Schloss Bangalore IPO: How to Apply
Interested investors can read the Red Herring Prospectus (RHP) and refer to the price band advertisement published in Financial Express and Jansatta on May 21, 2025.
