Leela Hotels-owner Schloss sets ₹413-435 price band for IPO
In a significant development in the world of Indian hospitality, Schloss Bangalore, the owner of luxury hotel chain ‘The Leela’, has set a price band of ₹413 to ₹435 per share for its ₹3,500 crore initial public offering (IPO). This move marks a major milestone for the company as it prepares to list its shares on the stock exchanges.
As per the price band, the company will have a market capitalization of over ₹14,500 crore at the upper end. The IPO will open for subscription on May 26 and close on May 28. The public issue consists of a fresh issue of ₹1,500 crore and an offer for sale (OFS) of ₹2,000 crore by the existing shareholders.
The Leela Hotels, a renowned luxury hotel chain in India, has a portfolio of 19 hotels across 10 cities, including Chennai, Bengaluru, Delhi, Agra, and Goa, among others. The company has been expanding its presence in recent years, with a focus on providing high-quality services and amenities to its guests.
The IPO of Schloss Bangalore is seen as a significant move in the Indian hospitality sector, which has been growing steadily in recent years. The sector has witnessed significant investments and expansion by various players, driven by growing demand from both domestic and international tourists.
The luxury hotel chain has a strong brand presence in India, with its hotels being popular among both business and leisure travelers. The company’s focus on providing luxurious amenities and services has helped it to establish a strong reputation in the market.
The IPO of Schloss Bangalore is being seen as an opportunity for investors to participate in the growth story of the company. The luxury hotel chain has been consistently reporting strong financial performance, with its revenue growing at a compound annual growth rate (CAGR) of around 10% over the past three years.
The company’s financial performance is driven by its strong brand presence, high-quality services, and strategic location of its hotels. The Leela Hotels has a strong focus on sustainability and has implemented various initiatives to reduce its environmental footprint.
The IPO of Schloss Bangalore is also seen as a significant move in the context of the Indian hospitality sector, which has been facing challenges due to the COVID-19 pandemic. The sector has been recovering steadily, driven by growing demand from domestic and international tourists.
The IPO of Schloss Bangalore is expected to be a highly sought-after issue, given the company’s strong brand presence and financial performance. The luxury hotel chain has a strong track record of delivering consistent returns to its investors, making it an attractive option for those looking to invest in the hospitality sector.
In conclusion, the setting of a price band of ₹413-435 per share by Schloss Bangalore for its IPO is a significant development in the Indian hospitality sector. The luxury hotel chain has a strong brand presence and financial performance, making it an attractive option for investors. The IPO is expected to be a highly sought-after issue, and investors are likely to participate in the growth story of the company.
