Goldman Sachs, Fidelity and Societe Generale are among top global funds that have invested in the company.
The anchor book saw participation from domestic institutional investors including leading mutual funds such as HDFC MF, ICICI Prudential MF, Nippon India MF, Mirae MF and Invesco MF and insurance companies such as Max Life Insurance and Aditya Birla Sun Life Insurance.
The three-day issue will open on Monday, May 26, 2025 and end on Wednesday, May 28, 2025. The company has set the price band at Rs 413 to Rs 435.
The highly anticipated initial public offering (IPO) is worth Rs 3,500 crore and includes a fresh issue of Rs 2,500 crore and an offer for sale (OFS) worth Rs 1,000 crore.
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The shares will likely be listed on June 2 on both BSE and NSE.The IPO is being managed by JM Financial, Kotak Mahindra Capital, Axis Capital, Morgan Stanley, and SBI Capital, among others. KFin Technologies is acting as the registrar to the issue.Schloss Bangalore, incorporated in 2019, is among India’s largest luxury hospitality firms in terms of number of rooms. As of May 2024, the company operates 12 properties with 3,382 keys under The Leela Palaces, Hotels, and Resorts.
Five of these — located in Bengaluru, Chennai, New Delhi, Jaipur, and Udaipur — are wholly owned. These properties blend regal Indian architecture with modern hospitality, appealing to high-end business and leisure travellers.
In addition to rooms, the company operates 67 fine-dining restaurants and bars and 12 wellness centres. Its flagship spa at The Leela Palace Bengaluru is being developed in collaboration with luxury wellness brand Soneva.
The company plans to use Rs 2,300 crore from the IPO proceeds to repay or prepay borrowings across itself and key subsidiaries. The remainder will go toward general corporate purposes.
Despite posting losses of Rs 36 crore for the period ended May 2024, the company significantly narrowed its losses from Rs 319 crore in FY22 to Rs 2.1 crore in FY24. Revenues grew to Rs 1,226 crore in FY24 from Rs 415 crore in FY22, showcasing a sharp turnaround in business performance post-COVID.
Promoted by Brookfield-managed funds, Schloss Bangalore’s IPO marks a key milestone in India’s luxury hospitality sector and is expected to attract both institutional and retail investor attention.
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