Leela Owner to Invest Rs 1,131 Crore in Five New Luxury Properties

Ahead of IPO, Leela Palaces parent firm raises Rs 1,575 crore from anchor investors

New Delhi: Schloss Bangalore Ltd, which operates Leela Palaces Hotels and Resorts, has garnered Rs 1,575 crore from anchor investors, days before its initial share-sale opening for public subscription. The anchor book has received widespread participation from domestic institutional investors including HDFC Mutual Fund (MF), ICICI Prudential MF, Nippon India MF, Mirae MF and Invesco MF and Aditya Birla Sun Life Insurance Company, according to a …

The Leela Hotels IPO, India’s nuclear pivot and more…

In this week’s wrap-up, we talk about the government’s bold move to potentially privatise nuclear energy, the revamped PLFS, why the stock market might be the most powerful force in the economy. We also dive into the RBI vs Finance Ministry’s battle over cash and talk about Borana Weaves, a Surat-based company that’s spinning profits out of grey fabric and launched its IPO this week.And in our markets edition, we decode The Leela Hotels IPO and …

The Leela’s $400 Million IPO to Fund Luxury Expansion in India

Skift Take: The Leela plans to pay down debt and expand its luxury footprint across spiritual, heritage, and wildlife destinations. Read the Complete Story On Skift

Leela Owner to Invest Rs 1,131 Crore in Five New Luxury Properties

Brookfield-backed Schloss Bangalore Ltd, owner of The Leela Palaces, Hotels and Resorts, is set to invest Rs 1,131 crore to develop five new company-owned hospitality properties across India.These properties, comprising 475 rooms, will be located in Agra, Srinagar, Bandhavgarh, Ranthambore, and Ayodhya, and are expected to commence operations by 2028. The announcement comes as Schloss Bangalore launches its Rs 3,500-crore initial public offer on…