Leela Hotels IPO Allotment Date Set: Investors Await June 2 Listing
By ScanX News Team
Schloss Bangalore, owner of Leela Palaces, Hotels & Resorts, announces IPO allotment finalization on May 29, 2023. The ₹3500 crore IPO, priced at ₹413-435 per share, was oversubscribed 4.50 times. Refunds and share transfers expected on May 30, with listing on BSE and NSE scheduled for June 2. The strong subscription rate indicates positive investor sentiment towards the luxury hospitality brand.
*this image is generated using AI for illustrative purposes only.
Schloss Bangalore, the owner of the prestigious Leela Palaces, Hotels & Resorts chain, is set to mark a significant milestone in its journey as a public company. The hospitality giant has announced that the allotment for its highly anticipated Initial Public Offering (IPO) will be finalized on May 29, 2023.
IPO Details
The ₹3500.00 crore IPO has generated considerable interest among investors, reflecting the robust appetite for India's hospitality sector. Here are the key details of the offering:
- Price Band: ₹413.00 to ₹435.00 per share
- Subscription Rate: 4.50 times overall
- Allotment Date: May 29, 2023
- Refund and Share Transfer: Expected on May 30, 2023
- Listing Date: Scheduled for June 2, 2023
- Listing Venues: Bombay Stock Exchange (BSE) and National Stock Exchange (NSE)
Investor Response
The strong subscription rate of 4.50 times indicates a positive reception from investors, suggesting confidence in the Leela brand and the potential of the Indian luxury hospitality market. This enthusiasm could bode well for the company's debut on the stock exchanges.
Next Steps for Investors
Investors who have applied for shares in the Leela Hotels IPO should mark their calendars for the following dates:
- May 29, 2023: IPO allotment finalization
- May 30, 2023: Expected date for refunds (for unsuccessful applicants) and share transfers (for successful applicants)
- June 2, 2023: Anticipated listing date on BSE and NSE
Checking Allotment Status
Investors can check their allotment status on or after May 29 through the following channels:
- NSE Website
- BSE Website
- KFin Technologies (the registrar to the issue)
About Leela Palaces, Hotels & Resorts
Leela Palaces, Hotels & Resorts is renowned for its luxury properties across India. The brand has established itself as a key player in the high-end hospitality sector, catering to both domestic and international travelers. The success of this IPO could provide the company with the capital needed for further expansion and enhancement of its portfolio.
As the hospitality industry in India continues to recover and grow post-pandemic, the market will be closely watching Leela's performance as a listed entity. The June 2 listing will mark the beginning of a new chapter for this esteemed hotel chain in the public market arena.
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