The latest IPO in India comes from Schloss Bangalore Ltd, the luxury hotel operator behind The Leela brand. Backed by Brookfield, the company has launched a ₹3,500 crore IPO from May 26–28, 2025, drawing heavy attention from anchor investors and retail participants alike.

Company Overview

Schloss Bangalore Ltd is a premium hospitality company operating 13 hotels under The Leela brand across India. With strong backing from Brookfield Asset Management, the firm plans to expand into new markets like Agra, Ayodhya, and Ranthambore with a ₹1,131 crore investment.

IPO Timeline

• IPO Open: May 26, 2025
• IPO Close: May 28, 2025
• Allotment Date: May 29, 2025
• Listing Date: June 2, 2025
• Exchanges: BSE & NSE

IPO Price Band

The IPO price band is ₹413–₹435 per equity share. This values the company at around ₹14,500 crore at the upper range.

Lot Size

The minimum application is for 34 shares per lot, translating to ₹14,790 at the top price.

Key Dates

• Anchor Investor Bidding: May 23, 2025
• IPO Subscription: May 26–28, 2025
• Allotment: May 29, 2025
• Listing: June 2, 2025

Financials

EBITDA rose sharply from ₹87.72 crore in FY22 to ₹600.03 crore in FY24. The firm turned profitable in FY24 while reducing net debt by 32% to ₹25.68 billion.

Strengths

• Strong brand equity with The Leela name
• Expansion into high-demand tourist regions
• Strong institutional backing from Brookfield
• Improved financial metrics and profitability

Risks

• High sensitivity to market and economic cycles
• Fierce competition in luxury hospitality
• Operational complexity across diverse locations

IPO Anchor Investors Details

Investor Type	Number of Shares Allocated	Investment Amount (₹ Crore)
Domestic Mutual Funds	1.42 crore	Not specified
Global Financial Institutions	Not specified	Not specified
Total	3.62 crore	1,575

IPO Promoter Holding Details

Promoter Entity	Pre-Issue Holding (%)	Post-Issue Holding (%)
Project Ballet Bangalore Holdings (DIFC) Pvt Ltd	Not specified	Not specified
BSREP III Joy (Two) Holdings (DIFC) Limited	Not specified	Not specified
BSREP III Tadoba Holdings (DIFC) Pvt Ltd	Not specified	Not specified
Project Ballet Udaipur Holdings (DIFC) Pvt Ltd	Not specified	Not specified
Project Ballet Gandhinagar Holdings (DIFC) Pvt Ltd	Not specified	Not specified

IPO Grey Market Premium (GMP)

Date	GMP (₹)	Estimated Listing Price (₹)
May 21, 2025	21	456
May 22, 2025	12	447
May 23, 2025	18	453

Note: GMP figures are indicative and fluctuate with market sentiment.

Final Thoughts

Schloss Bangalore Ltd’s IPO appears promising given its luxury positioning, improved financials, and strong institutional support. Investors should, however, weigh the risks associated with economic cycles and sector competition before subscribing.