Leela Hotels IPO to open on May 26: Check lot size, price band, objectives and other details

Leela Hotels IPO price band and lot size

Leela Hotels has fixed price band of ₹413-₹435 per share and a retail investor can place bid for minimum one lot of 34 shares up to maximum of 13 lots. At the upper end of the price band, one lot of Leela Hotels shares will cost ₹14,790.

The company has reserved 75% shares in the IPO for large investors like bank, mutual funds, foreign institution investors and others which fall under the category of Qualified Institutional Buyers (QIB). 10% shares are set aside for retail investors and 15% are reserved for non-institutional investors.

Leela Hotels IPO objective

Leela Hotels will use the proceeds from the IPO for repayment/prepayment/redemption, in full or in part, of certain outstanding borrowings availed by the company, certain of its subsidiaries, namely, Schloss Chanakya, Schloss Chennai, Schloss Udaipur and TPRPL, through investment in such subsidiaries and for general corporate purposes.

About Schloss Bangalore

Brookfield-backed Schloss Bangalore, established in 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.

Schloss Bangalore was 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.