Leela Hotels Lists On NSE And BSE At Nearly 6.7% Discount To IPO Price

Schloss Bangalore Ltd, the company behind The Leela Palaces Hotels and Resorts, made its stock market debut today, June 2, 2025, on both the NSE and BSE. The listing marks the entry of one of India’s well-known luxury hospitality brands into the public markets.

While the stock opened below its issue price, it showed some recovery and is trading just slightly below the upper end of the price band.

Leela IPO Listing Price

The IPO was priced between Rs 413 and Rs 435 per share, with the final issue price set at Rs 435. On the BSE, the stock opened at Rs 406.50 and touched an intraday high of Rs 428.70, while on the NSE, it opened at Rs 406.00 and reached a high of Rs 429.00.

Leela Hotels (Schloss Bangalore Ltd) is listed on the stock exchanges at a discount compared to its issue price of Rs 435. The shares opened at around Rs 406.50 on the BSE and Rs 406.00 on the NSE, which means the stock started trading nearly 6.6 to 6.7 per cent below the IPO price. 

As of the latest update, the stock is trading at around Rs 428.35 on the BSE and Rs 428.90 on the NSE, which reflects a drop of about 1.5% from the issue price.

The grey market premium (GMP) was Rs 2 earlier today, suggesting an expected listing price of Rs 437. Compared to this estimate, the stock is currently down by around 0.46%.

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Leela IPO Subscription Status

The IPO witnessed a decent response from investors, receiving an overall subscription of 4.50 times. The institutional portion (QIBs) was subscribed 7.46 times, showing strong demand from large investors.

Non-Institutional Investors (NIIs) subscribed 1.02 times, while the retail category saw lower interest, with 83% subscription.

Leela IPO Details

Before the IPO opened to the public, Schloss Bangalore raised Rs 1,575 crore from anchor investors. The Rs 3,500 crore issue consisted of a Rs 2,500 crore fresh issue and a Rs 1,000 crore offer for sale by the promoter, Project Ballet Bangalore Holdings (DIFC) Pvt Ltd.

The funds raised from the fresh issue will be used to repay loans and for general corporate purposes.

Schloss Bangalore operates the Leela brand, known for its luxurious hotels, resorts, and palaces. Backed by Brookfield Asset Management, the company had 12 operational properties with a total of 3,382 rooms across 10 locations in India as of May 31, 2024.