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Schloss Bangalore (Leela Hotels) IPO
Schloss Bangalore Ltd
₹14,042 /34 sharesMinimum Investment
Schloss Bangalore (Leela Hotels) IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| BSE | ₹435.00 | ₹406.00 | -₹29.00 (6.67%) |
Schloss Bangalore (Leela Hotels) IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 26 May ‘25 - 28 May ‘25 | ₹14,042 | 34 | ₹413 - ₹435 |
| Issue Size | IPO Doc |
|---|---|
| 3500.00Cr | RHP PDF |
Subscription rate
As of 28 May'25, 05:00 PM
| Qualified Institutional Buyers | 7.46x |
| Non-Institutional Investor | 1.01x |
| Retail Individual Investor | 0.77x |
| Total | 4.48x |
About Schloss Bangalore (Leela Hotels)
Founded in
2019
Parent organisation
Schloss Bangalore Ltd
Schloss Bangalore Ltd IPO
https://www.youtube.com/watch?v=7v9WsuaTGFU
Strengths & Financials of Schloss Bangalore (Leela Hotels)
Strengths
Risks
Schloss Bangalore claims to be the only institutionally owned pure-play luxury hospitality company in India. The company claims its brand, The Leela, has received over 250 awards since 2021 and ranks among the world’s top luxury hotels. It further claims to have a strong service culture reflected in a high net promoter score (a market research metric that measures customer loyalty) of 84.00 in FY24 and an industry-leading earnings before interest, taxes, depreciation, and amortisation (EBITDA) margin of 48.92 percent.
The company claims to own five flagship hotels located in high-demand business and leisure destinations, like Bengaluru, Chennai, New Delhi, Jaipur, and Udaipur, where new hotel development faces challenges due to limited land availability and long gestation periods. The company further claims these properties, described as modern palaces, exceed typical industry standards in room size and architectural grandeur, and have won multiple awards.
Schloss Bangalore claims to have a comprehensive luxury ecosystem offering accommodations, award-winning dining, wellness, and event venues. They include 67 food and beverage (F&B) venues and 12 spas.
Schloss Bangalore claims to have increased revenue per available room (RevPAR) for owned hotels from 1.2 times in FY19 to 1.4 times in FY24 versus the luxury segment average. It invested Rs 654.6 crore in capital expenditure (capex) since FY21, achieving average room rate (ARR) growth from Rs 11,928 in FY20 to Rs 23,831 in FY24 and RevPAR growth from Rs 7,037 in FY20 to Rs 14,851 at The Leela Palace Jaipur in FY24.
The company claims to have maintained cost discipline while ensuring luxury service standards, with hotel employee costs at 15.3 percent of total hotel revenues and power and fuel expenses at 3.9 percent in FY24, both lower than luxury hospitality sector averages.
Schloss Bangalore is promoted by Brookfield, one of the world’s largest alternative assets managers and investors. The company claims to benefit from Brookfield’s expertise in real estate, capital discipline, and strong governance, including anti-bribery and anti-corruption policies.
The company and some of its subsidiaries have received A- (Stable) credit ratings from Credit Rating Information Services of India Limited (CRISIL) and Investment Information and Credit Rating Agency of India Limited (ICRA) for their long-term and short-term bank facilities and debt instruments.
The company has witnessed an increase in revenue from operations. It increased from Rs 380.11 crore in FY22 to Rs 860.06 crore in FY23 and Rs 1,171.45 crore in FY24.
A significant portion of the company’s income is derived from its top five owned hotels, namely, the Leela Palace Bengaluru, the Leela Palace Chennai, the Leela Palace New Delhi, the Leela Palace Jaipur, and the Leela Palace Udaipur. They contributed Rs 157.72 crore (92.92 percent) to the company’s total income in the two months ended May 31, 2024, Rs 1,150.14 crore (93.77 percent) in FY24, Rs 823.16 crore (91.13 percent) in FY23, and Rs 376.13 crore (90.43 percent) in FY22. Any adverse development in any of these regions or hotels could negatively affect the company’s business and financial standing.
Schloss Bangalore has incurred losses of Rs 36.39 crore in the two months ended May 31, 2024, Rs 2.13 crore in FY24, Rs 61.68 crore in FY23, and Rs 319.83 crore in FY22. Any continuation of these losses could adversely affect the company’s business operations, cash flows, and financial condition.
The company has experienced negative net cash flows, with net decreases in cash and cash equivalents of Rs 20.25 crore in the two months ended May 31, 2024, Rs 100.23 crore in FY24, and Rs 84.12 crore in FY23. Furthermore, the company also experienced negative cash flow from financing activities, amounting to Rs 129.26 crore in the two months ended May 31, 2024, and Rs 317.77 crore in FY23. If cash outflows continue to exceed inflows in the future, the company may face liquidity challenges.
Schloss Bangalore reported a negative net worth of Rs 2,784.01 crore in the two months ended May 31, 2024, Rs 2,825.72 crore in FY24, Rs 2,511.96 crore in FY23, and Rs 2,452.01 crore in FY22. Prolonged negative net worth could harm the company’s long-term prospects.
As of May 31, 2024, the company had contingent liabilities amounting to Rs 314.20 crore. If any of these contingent liabilities materialise, they can negatively affect the company’s financial condition.
The company and its subsidiaries are involved in certain ongoing legal proceedings, including tax disputes and civil litigation. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
The company’s business is impacted by seasonality, with higher demand for leisure travel in the second half of the financial year, particularly in destinations like Jaipur and Udaipur. Any inability to manage these fluctuations could adversely affect its revenue, margins, and financial condition.
As of May 31, 2024, the company had outstanding financial indebtedness of Rs 4,052.50 crore. Any failure to service or repay these loans can harm the company’s operations and financial position.
Schloss Bangalore (Leela Hotels) Financials
*All values are in Rs. Cr
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Application Details of Schloss Bangalore (Leela Hotels) IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Regular | ₹413 - 435 | ₹2 Lakh |
| High Networth Individual | ₹413 - 435 | ₹2 - 5 Lakh |
For Schloss Bangalore (Leela Hotels) IPO, eligible investors can apply as Regular.