The Leela Hotels IPO is scheduled to open on May 26, 2025, and will close on May 28, 2025. The allotment of shares is expected to be finalized on May 29, 2025, and the IPO is likely to be listed on the BSE and NSE on June 2, 2025.
Leela Hotels is coming up with a Book Built Issue of ₹5,000 crore, which includes a fresh issue of ₹3,000 crore and an offer for sale (OFS) of ₹2,000 crore worth of equity shares. The price band for the IPO is set at ₹413 to ₹435 per share, with a face value of ₹10 each. The issue is allocated as follows: 75% for QIBs, 15% for Non-Institutional Investors (HNIs), and 10% for Retail Investors.
On the financial front, Leela Hotels reported a significant improvement in performance, posting a revenue of ₹1,226.5 crore in 2024 compared to ₹903.27 crore in 2023. The company’s net loss reduced sharply to ₹2.13 crore in 2024 from ₹61.68 crore in 2023. Considering its recovery and growth potential, the IPO could be a favorable opportunity for long-term investors.
Leela Hotels, originally incorporated as Schloss Bangalore Limited in 2019, is a luxury hospitality company operating under the well-known brand “The Leela” in India. The company owns, operates, manages, and develops high-end hotels and resorts that offer premium stays and personalised services inspired by Indian hospitality. As of May 31, 2024, it is among the largest luxury hotel chains in India based on room count, with a portfolio of 12 operational hotels and 3,382 rooms. These include iconic properties under The Leela Palaces, Hotels, and Resorts, spread across important business and leisure destinations.
The company operates through both direct ownership and hotel management agreements. It currently owns five major hotels located in Bengaluru, Chennai, New Delhi, Jaipur, and Udaipur, each known for combining traditional Indian architecture with modern luxury. Leela Hotels also manages 67 restaurants, bars, and cafes, along with 12 wellness spas across its properties, and is developing a high-end spa in partnership with Soneva at its Bengaluru hotel, expected to open in FY 2026.
The company serves India’s premium MICE (Meetings, Incentives, Conferences, and Exhibitions) market and is also expanding into luxury residential clubs and branded Leela residences, with current operations in a premium Mumbai property. Leela Hotels is promoted by private equity funds managed and advised by Brookfield, one of the world’s leading alternative investment firms.
Overview of Contents
Leela Hotels IPO Overview
| Particulars | Information |
|---|---|
| IPO Type | Book Built Issue |
| Listing Exchange | BSE & NSE |
| Face Value | ₹10 per equity share |
| IPO Price Band | ₹413 to ₹435 per share |
| Total Issue Size | Approx ₹5,000 crores |
| Fresh Issue Size | Approx ₹3,000 crores |
| Offer for Sale | Approx ₹1,000 Crores, 2,29,88,505 Equity Shares |
| Market Lot | 34 shares per lot |
| Retail Investor Quota | Not more than 10% |
| Qualified Institutional Buyers (QIB) Quota | Not more than 75% |
| Non-Institutional Investors (NII) Quota | Not more than 15% |
| Promoter | Brookfield (via PE funds) |
| Registrar | Kfin Technologies Limited |
| Pre-Issue Shareholding | 17,59,85,320 equity shares |
| Post-Issue Shareholding | 33,39,57,878 shares |
Leela Hotels IPO GMP
The grey market premium (GMP) of Leela Hotels IPO shows how much demand is there for the shares before listing. GMP gives an idea of how the IPO might perform on the listing day. Please note that GMP keeps changing daily based on market mood and demand. Investors should not fully depend on GMP and should check company fundamentals before investing.
| Date | IPO GMP | GMP Trend | Kostak | Subject to |
|---|---|---|---|---|
| 28 May | ₹4.5 (1.03%) |  | ₹- | ₹400 |
| 27 May | ₹12.5 |  | ₹- | ₹420 |
| 21 May | ₹- | – | ₹- | ₹- |
| 20 May | ₹- | – | ₹- | ₹- |
| 19 May | ₹- | – | ₹- | ₹- |
| 18 May | ₹- | – | ₹- | ₹- |
| 17 May | ₹- | – | ₹- | ₹- |
| 16 May | ₹- | – | ₹- | ₹- |
Leela Hotels IPO Prospectus
| DRHP | Click here |
| RHP | Click here |
Leela Hotels IPO Dates
| Event | Date |
|---|---|
| IPO Open Date | May 26, 2025 (Monday) |
| IPO Close Date | May 28, 2025 (Wednesday) |
| Basis of Allotment | May 29, 2025 (Thursday) |
| Refunds Initiation | May 30, 2025 (Friday) |
| Credit to Demat Account | May 30, 2025 (Friday) |
| Listing Date | June 2, 2025 (Monday) |
Leela Hotels IPO Lot Size
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 34 | ₹14,790 |
| Retail Maximum | 13 | 442 | ₹1,92,270 |
| S-HNI Minimum | 14 | 476 | ₹2,07,060 |
| B-HNI Minimum | 68 | 2,312 | ₹10,05,720 |
Leela Hotels IPO Review
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Leela Hotels IPO Promoter Holding
Leela Hotels is backed by a group of promoter entities under Brookfield, a leading global investment firm. The company’s entire pre-issue shareholding is held by its promoters. After the IPO, the promoter holding will be diluted.
| Shareholding Stage | Percentage |
|---|---|
| Pre-Issue Holding | 100% |
| Post-Issue Holding | [To be updated] |
Objects of the Issue
- Repayment/ prepayment/ redemption, in full or in part, of certain outstanding borrowings availed by: (a) the Company, (b) certain of our Subsidiaries, namely, Schloss Chanakya, Schloss Chennai, Schloss Udaipur and TPRPL, through investment in such Subsidiaries.
- General corporate purposes.
Leela Hotels IPO Finanacial Performance
Below is the restated consolidated financial information of Schloss Bangalore Limited, which operates under the Leela Hotels brand. The data shows the company’s performance over the past few years. While revenues have improved significantly, losses have reduced, showing signs of financial recovery. However, net worth and reserves continue to remain in the negative zone.
| Particulars | 31 May 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Total Assets (₹ Cr) | 6,935.21 | 7,061.88 | 5,875.54 | 5,863.01 |
| Revenue (₹ Cr) | 169.74 | 1,226.50 | 903.27 | 415.95 |
| Profit After Tax (₹ Cr) | -36.39 | -2.13 | -61.68 | -319.83 |
| Net Worth (₹ Cr) | -2,784.01 | -2,825.72 | -2,511.96 | -2,452.02 |
| Reserves & Surplus (₹ Cr) | -2,954.45 | -2,906.20 | -2,582.80 | -2,522.86 |
| Total Borrowings (₹ Cr) | 4,052.50 | 4,242.18 | 3,696.18 | 3,676.81 |
Leela Hotels IPO: Key Financial Highlights and Valuation – FY2024
| KPI | Values |
|---|---|
| ROE: | -% |
| ROCE: | -% |
| EBITDA Margin: | 48.92% |
| PAT Margin: | (0.17%) |
| Debt to equity ratio: | (1.55) |
| Earning Per Share (EPS): | -₹0.12 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | NA |
| Net Asset Value (NAV): | -₹160.57 |
Peer Group Comparison of Leela Hotels
| Company | EPS | PE Ratio | RoNW % | NAV | Income (₹ Cr) |
|---|---|---|---|---|---|
| The Indian Hotels Company Ltd | 8.86 | 77.27 | 13.13% | 71.16 | 6,768.75 |
| EIH Limited | 10.22 | 37.25 | 16.58% | 65.34 | 2,511.27 |
| Chalet Hotels Limited | 13.54 | 65.16 | 15.03% | 90.08 | 1,417.25 |
Company Address
Schloss Bangalore Limited
The Leela Palace, Diplomatic Enclave,
Africa Avenue, Netaji Nagar, South Delhi,
New Delhi, Delhi, 110 023, India
Phone: +91 22 6901 5454
Email: [email protected]
Website: http://www.theleela.com/
Leela Hotels IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: [email protected]
Website: https://kosmic.kfintech.com/ipostatus/
IPO Lead Managers aka Merchant Bankers
- Jm Financial Limited
- Bofa Securities India Limited
- Morgan Stanley India Company Pvt Ltd
- J.P. Morgan India Private Limited
- Kotak Mahindra Capital Company Limited
- Axis Capital Limited
- Citigroup Global Markets India Private Limited
- Iifl Securities Ltd
- Motilal Oswal Investment Advisors Limited
- SBI Capital Markets Limited
Leela Hotels IPO FAQs
When does the Leela Hotels IPO open and close?
The IPO opens on May 26, 2025, and closes on May 28, 2025.
What is the price band for the Leela Hotels IPO?
The price band is yet to be announced.
What is the total issue size of the IPO?
The company plans to raise approximately ₹5,000 crores through the IPO.
How is the issue size divided?
It consists of a fresh issue of ₹3,000 crores and an offer for sale worth approximately ₹2,000 crores.
What is the face value of each equity share?
Each equity share has a face value of ₹10.
What is the issue type of this IPO?
Leela Hotels IPO is a Book Built Issue.
What is the allotment date for the IPO?
The basis of allotment will be finalized on May 29, 2025.