Schloss Bangalore files ₹50 billion ($599 million) IPO for The Leela luxury hotel chain, including new shares and share sale by existing shareholder Project Ballet Bangalore Holdings.
Schloss Bangalore, owner of The Leela luxury hotel chain, has filed for a ₹50 billion ($599 million) IPO. The offering includes new shares worth ₹30 billion and a sale of ₹20 billion in shares by existing shareholder Project Ballet Bangalore Holdings, affiliated with Brookfield Asset Management. This move aims to bolster the company's presence in India's hospitality sector, where 235 companies have already raised over $8.6 billion this year.
September 20, 2024
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