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The ₹3,500-crore initial public offering of Schloss Bangalore, which operates Leela Hotels, closed with an overall subscription of 47 per cent as of 11:42 am on the final day, May 28, 2025. The IPO, which closes at 5 pm today, has received bids for 2.18 crore shares against the total offer of 4.66 crore shares.
The retail individual investor segment showed the strongest response with 50 per cent subscription, receiving bids for 42.26 lakh shares against the reserved 84.74 lakh shares. However, institutional participation remained subdued, with qualified institutional buyers subscribing to only 60 per cent of their allocated portion and non-institutional investors at a weak 19 per cent.
The Brookfield-backed hospitality company is offering shares in a price band of ₹413-435 per share, with a minimum bid requirement of 34 shares. The IPO comprises a fresh issue of ₹2,500 crore and an offer for sale worth ₹1,000 crore.
Prior to the public issue, the company successfully raised ₹1,575 crore from 47 anchor investors, including global funds Goldman Sachs, Fidelity, and Societe Generale. At the upper price band, Schloss Bangalore will command a market capitalization of ₹14,527 crore.
The lukewarm response reflects cautious investor sentiment in the current market environment, with institutional investors showing particular restraint in their participation.
Published on May 28, 2025
This article first appeared on The Hindu Business Line
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