The Leela brand, known for its luxurious hotels and resorts, is poised for a major expansion with its parent company, Schloss Bangalore, filing for an initial public offering (IPO) with the Securities and Exchange Board of India (Sebi). The proposed IPO aims to raise a staggering Rs 5,000 crore, potentially becoming the largest offering ever witnessed in the Indian hospitality sector.
This move signifies Schloss Bangalore’s ambitious growth plans. The company is seeking to raise fresh capital of Rs 3,000 crore through the IPO, while its existing shareholder, Project Ballet Bangalore Holdings (DIFC), an affiliate of Brookfield Asset Management, aims to offload shares worth Rs 2,000 crore.
The proceeds from the fresh issue will be primarily utilized for debt repayment and general corporate purposes. Schloss Bangalore currently operates 12 hotels across 10 Indian cities, but the IPO could fuel further expansion plans. The company has expressed its intention to open eight new hotels by 2028, solidifying its position as a leader in India’s luxury hospitality segment.
This IPO filing underscores the growing confidence in the Indian hospitality industry, particularly in the luxury sector. With a recovering tourism sector and an increasing demand for high-end experiences, Schloss Bangalore’s IPO is likely to garner significant interest from investors.
