Leela Hotels-owner Schloss Bangalore saw its IPO fully booked on the final day, driven by a massive push from qualified institutional buyers (QIBs). The issue, which initially saw lukewarm retail response, was subscribed over 4.27 times overall, thanks to a robust 7.18x subscription from QIBs. The IPO aims to raise ₹3,500 crore, comprising a fresh issue of ₹2,500 crore and an offer-for-sale worth ₹1,000 crore.

Schloss Bangalore, operating under the Leela Hotels brand, is backed by Brookfield and focuses on India’s luxury hospitality segment. Despite the IPO being fully subscribed, the grey market premium (GMP) corrected significantly—currently at ₹2 per share—indicating muted listing expectations. Initially, GMP hovered around ₹20 but declined throughout the bidding window.

Retail participation was modest, with only 66% of the quota subscribed. However, analysts remain positive, citing the strong financial turnaround—₹47.66 crore net profit in FY25 versus a ₹2.13 crore loss last year—and revenue growth to ₹1,406.56 crore. The brand’s premium positioning, strategic assets, and expansion plans further fuel optimism.

Experts recommend long-term investment in Leela Hotels, highlighting its potential in India’s booming luxury tourism market.