Schloss Bangalore IPO: A Comprehensive Overview of GMP, Subscription Status, and Key Details
Schloss Bangalore Limited, the operator of The Leela Palaces, Hotels & Resorts, has launched its ₹3,500 crore initial public offering (IPO) on Monday, May 26, 2025. The IPO is open for subscription until Wednesday, May 28, 2025. The company aims to raise ₹2,500 crore through a fresh issue of shares and ₹1,000 crore via an offer for sale (OFS) by promoter Project Ballet Bangalore Holdings (DIFC) Pvt Ltd.
IPO Details
Price Band: ₹413 to ₹435 per share
Lot Size: 34 shares; minimum investment of ₹14,790 at the upper price band
Issue Size: ₹3,500 crore (₹2,500 crore fresh issue + ₹1,000 crore OFS)
Subscription Period: May 26 to May 28, 2025
Listing Date: Expected on June 2, 2025
Grey Market Premium (GMP)
As of May 26, 2025, Schloss Bangalore's IPO shares are commanding a grey market premium (GMP) of approximately ₹13 to ₹16 per share, indicating a modest premium of around 3% to 3.7% over the upper end of the price band.
Subscription Status on Day 1
On the first day of bidding, the IPO was subscribed 6% overall. The retail investor portion was subscribed 20%, while the non-institutional investors (NII) and qualified institutional buyers (QIB) categories saw 3% subscription each.
Financial Highlights
Schloss Bangalore has shown significant improvement in its financials, turning profitable in the fiscal year ending March 2025, with an 11% increase in revenue. The company’s debt has decreased by 32% to ₹25.68 billion.
Anchor Investor Participation
Prior to the IPO opening, Schloss Bangalore raised ₹1,575 crore from 47 anchor investors, including prominent names like Goldman Sachs and Fidelity. Shares were allotted at the upper end of the price band, reflecting strong institutional interest.
Conclusion
While the IPO has garnered modest interest on the first day, the participation of major anchor investors and the company's improved financial performance may attract more investors in the coming days. Potential investors should consider these factors and conduct thorough research before making investment decisions.