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The IPO includes a fresh issue of equity shares worth Rs 2,500 crore and an offer-for-sale of Rs 1,000 crore by the promoter, Project Ballet Bangalore Holdings (DIFC).
Leela Palaces’ Owner plans for Rs 3,500 cr IPO.
New IPO Alert: Schloss Bangalore Limited, the firm that owns the coveted ‘The Leela Palaces, Hotels, and Resorts’ chain, is set to launch its Rs 3500-crore IPO. It submitted a red herring prospectus to the Registrar of Companies on May 20. The issue price is being reduced from Rs 5,000 crore as earlier planned. The IPO will be launched on May 26.
The IPO’s anchor book will open for a single day on May 23, with public subscription closing on May 28.
The company aims to finalize the IPO share allotment by May 29, and trading of Schloss Bangalore shares on the stock exchanges will begin on June 2.
The IPO includes a fresh issue of equity shares worth Rs 2,500 crore and an offer-for-sale of Rs 1,000 crore by the promoter, Project Ballet Bangalore Holdings (DIFC).
This issue size has been reduced from the initially planned Rs 5,000 crore at the draft red herring prospectus stage, which was originally set to include a fresh issue of Rs 3,000 crore and an offer-for-sale of Rs 2,000 crore.
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