Leela Hotels IPO GMP Price Today: Last Day To Bid For Luxury Hotel Chain's Public Issue - Check Latest Grey Market Premium Price

Schloss Bangalore Ltd., the parent company of The Leela Palaces, Hotels & Resorts, wrapped up its Rs 3,500 crore IPO on a subdued note, with investor appetite falling short of expectations. As of the final day of bidding, the issue was subscribed just 38%, reflecting caution in the market over valuations and recent financial performance.

Retail investors remained the most responsive, bidding for 49% of the shares reserved for them. Meanwhile, non-institutional investors (NIIs) and Qualified Institutional Buyers (QIBs) subscribed at 18% and 45%, respectively, suggesting limited interest from larger pools of capital.

Ahead of the IPO launch, Schloss Bangalore raised Rs 1,575 crore from a strong line-up of 47 anchor investors. Notable participants included global heavyweights like Goldman Sachs, Fidelity Investments, and Societe Generale.

Also Read: Leela Hotels IPO GMP: What Grey Market Premium Suggests On Day 2 Of Public Issue - Check Details | Republic World

Schloss Bangalore IPO: GMP

Investor caution was also mirrored in the grey market, where the IPO’s grey market premium (GMP) fell to just Rs 3 as of the morning of May 28. At the upper end of the price band — Rs 435 per share — the latest GMP points to an estimated listing price of Rs 438, indicating a modest potential gain of just 0.69%, as per market watchers.

The sharp drop in GMP — down from Rs 20 levels seen before the IPO opened — signals dwindling enthusiasm for what was initially expected to be a high-profile listing in the luxury hospitality space.

Schloss Bangalore IPO: Financial performance

The company posted a net profit of Rs 47.66 crore on revenue of Rs 1,406.56 crore for the financial year ended March 2025, a turnaround from a loss of Rs 2.13 crore in the previous year. While the recovery is notable, analysts say the stock's premium valuation may have tempered investor interest.

Schloss Bangalore IPO: Listing date

The IPO allotment is expected to be finalized by May 29, with shares likely to be credited to successful bidders’ demat accounts by May 30. The stock is scheduled to debut on both the BSE and NSE on Monday, June 2, with the final allotment status expected to be announced by May 29.

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