Schloss Bangalore (Leela Hotels) IPO

Schloss Bangalore is a luxury hospitality company that owns, operates, manages, and develops hotels and resorts under the ‘The Leela’ brand. It is institutionally owned and managed with a focus on the premium hospitality segment in India. As of May 31, 2024, the company operates 12 hotels and resorts comprising 3,382 keys across various business and leisure destinations in India. Its portfolio includes five owned hotels, six managed properties under hotel management agreements, and one franchised hotel. The company’s owned properties are located in Bengaluru, Chennai, and New Delhi, among others. It plans to expand with eight new properties across cities like Agra, Srinagar, Hyderabad, and Mumbai. Use of proceeds: The IPO consists of both a fresh issue of shares and an offer for sale.​ Net proceeds from the offer for sale will go to the respective selling shareholders, while the net proceeds from the fresh issue will be used for the following purposes: Repayment/prepayment/redemption, in full or in part, of certain borrowings availed of by the company and some of its subsidiaries. General corporate purposes.;