Schloss Bangalore IPO
Bookbuilding IPO | ₹3,500.00 Cr | Listing at BSE, NSE
IPO Open
Mon, May 26, 2025
IPO Close
Wed, May 28, 2025
Price Band
₹413.00 to ₹435.00
Market Cap (Pre-IPO)
₹10,155.36 Cr
IPO Details
| IPO Date | May 26, 2025 to May 28, 2025 |
| Listing Date | Tentative: Jun 02, 2025 |
| Face Value | ₹10.00 per share |
| Price Band | ₹413.00 to ₹435.00 |
| Lot Size | 34 Shares (Minimum: ₹14,790.00) |
| Sale Type | Offer For Sale + Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹3,500.00 Crores |
| Total Shares Offered | 80,459,769 shares |
| Fresh Issue | 57,471,264 shares |
| Offer For Sale | 22,988,505 shares |
Subscription Data
| Category | Times Subscribed |
|---|---|
| QIB | 7.82x |
| NII | 1.08x |
| RII | 0.87x |
| Total | 4.72x |
Schloss Bangalore IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 6,03,44,828 (75.00%) |
| Retail Shares Offered | 80,45,976 (10.00%) |
| NII Shares Offered | 1,20,68,965 (15.00%) |
Schloss Bangalore IPO Lot Size
Investors can bid for a minimum of 34 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 34 | ₹14,790 |
| Retail (Max) | 13 | 442 | ₹192,270 |
| S-HNI (Min) | 14 | 476 | ₹207,060 |
| S-HNI (Max) | 67 | 2,278 | ₹990,930 |
| B-HNI (Min) | 68 | 2,312 | ₹1,005,720 |
Schloss Bangalore Financial Information (Restated Consolidated)
Schloss Bangalore Ltd.'s revenue increased by 15% and profit after tax (PAT) rose by 2341% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 8,266.16 | 7,061.88 | 5,875.54 |
| Total Income | 1,406.56 | 1,226.50 | 903.27 |
| Profit After Tax | 47.66 | -2.13 | -61.68 |
| EBITDA | 0.00 | 0.00 | 0.00 |
| NET Worth | 3,604.99 | -2,825.72 | -2,511.96 |
| Reserves and Surplus | 3,280.43 | -2,906.20 | -2,582.80 |
| Total Borrowing | 3,908.75 | 4,242.18 | 3,696.18 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 0.00% |
| ROCE (Return on Capital Employed) | 0.00% |
| Debt/Equity | 0.00 |
| RoNW (Return on Net Worth) | 1.32% |
| PAT Margin (Profit After Tax Margin) | 0.00% |
| EBITDA Margin | 49.78% |
| Price to Book Value | 2.92 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 2.71 | 2.04 |
| P/E (x) | 160.63 | 213.09 |
| Promoter Holding | 100.00% | 75.91% |
Company Promoters
- Project Ballet Bangalore Holdings (DIFC) Pvt Ltd
- BSREP III Joy (Two) Holdings (DIFC) Limited
- BSREP III Tadoba Holdings (DIFC) Pvt Ltd
- Project Ballet Chennai Holdings (DIFC) Pvt Ltd
- Project Ballet Gandhinagar Holdings (DIFC) Pvt Ltd
- Project Ballet HMA Holdings (DIFC) Pvt Ltd and Project Ballet Udaipur Holdings (DIFC) Pvt Ltd are the company promoters.
Company Overview
Schloss Bangalore Limited, established on March 20, 2019, is a luxury hospitality company operating under "The Leela" brand in India. It owns, operates, manages, and develops luxury hotels and resorts, offering premier accommodations and personalised services inspired by Indian hospitality.
As of May 31, 2024, Schloss Bangalore Limited is one of India's largest luxury hospitality companies by number of keys, with a portfolio of 12 operational hotels comprising 3,382 keys. The portfolio includes The Leela Palaces, The Leela Hotels, and The Leela Resorts. The company operates through direct ownership and hotel management agreements with third-party owners.
The owned portfolio comprises five landmark hotels with 1,216 keys across key business and leisure destinations: Bengaluru, Chennai, New Delhi, Jaipur, and Udaipur. These hotels, renowned as modern palaces, blend traditional Indian architecture with contemporary luxury.
Owned Portfolio Highlights:
- The Leela Palace Bengaluru – An 8.23-acre urban ecosystem in the central business district, catering to business and leisure travelers.
- The Leela Palace Chennai – A 4.8-acre sea-facing palace on the Chennai marina, inspired by Chettinad architecture, offering expansive views of the Bay of Bengal.
- The Leela Palace New Delhi – A three-acre property in the diplomatic enclave of Chanakyapuri, positioned near over 60 embassies and high commissions.
- The Leela Palace Jaipur – An 8.1-acre luxury retreat near Jaipur’s historic sites, awarded Best Family Hotel by Travel + Leisure India’s Best Awards 2022 and Top 20 Best Hotels in India by Conde Nast Traveler, Readers’ Choice Awards 2023.
- The Leela Palace Udaipur – A seven-acre property overlooking Lake Pichola and the royal City Palace, offering a picturesque setting.
As of May 31, 2024, the company operates 67 restaurants, bars, and cafes, including Jamavar, Library Bar, ZLB 23, Megu, China XO, Le Cirque, and Sheesh Mahal. The portfolio also includes 12 spas and wellness sanctuaries, with a spa collaboration with Soneva under development at The Leela Palace Bengaluru, set for completion in FY 2026. Additionally, the properties are equipped to host corporate meetings, conferences, weddings, and social events, catering to India's premium MICE market.
Schloss Bangalore Limited is promoted by private equity funds managed and advised by affiliates of Brookfield, one of the world’s largest alternative asset managers.
Use of Proceeds
| 1) | Repayment/ prepayment/ redemption, in full or in part, of certain outstanding borrowings, interest accrued and prepayment penalties, as applicable, availed by i. The Company | 1,102.50 |
| 2) | ii. Certain of the wholly owned Subsidiaries and step-down subsidiaries, namely, Schloss Chanakya, Schloss Chennai, Schloss Udaipur and TPRPL, through investment in such Subsidiaries | 1,197.50 |
| 3) | General corporate purposes | 64.40 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Schloss Bangalore IPO Peer Comparison
Schloss Bangalore peer comparison with similar listed entities. (As on March 31, 2025)| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Schloss Bangalore Limited | 1.97 | 1.97 | 148.88 | 0.00 | 1.32 | 0.00 | Consolidated |
| Indian Hotels Co.ltd. | 13.40 | 13.40 | 87.22 | 59.84 | 16.42 | 0.00 | Consolidated |
Quick Info
| Sector | Luxury Hospitality |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹10,155.36 Cr |
| GMP | 0.00 |
Important Dates
| IPO Open | May 26, 2025 |
| IPO Close | May 28, 2025 |
| Allotment Date | May 29, 2025 |
| Credit to Demat | May 30, 2025 |
| Listing Date | Tentative: Jun 02, 2025 |
Lead Manager(s)
JM Financial Ltd.
Registrar
Kfin Technologies Ltd.
04067162222, 04079611000
Description
- Schloss Bangalore IPO is a book build issue of ₹3,500.00 crores. The issue is a combination of fresh issue of 5.75 crore shares aggregating to ₹2,500.00 crores and offer for sale of 2.30 crore shares aggregating to ₹1,000.00 crores.
- Schloss Bangalore IPO bidding started from May 26, 2025 and ended on May 28, 2025. The allotment for Schloss Bangalore IPO was finalized on May 29, 2025. The shares got listed on BSE, NSE on Jun 2, 2025.
- Schloss Bangalore IPO price band is set at ₹435.00 per share . The lot size for an application is 34. The minimum amount of investment required by an retail is ₹14,790 (34 shares) (based on upper price). The lot size investment for sNII is 14 lots (476 shares), amounting to ₹2,07,060, and for bNII, it is 68 lots (2,312 shares), amounting to ₹10,05,720.