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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Repayment of borrowings
Repayment or prepayment, in full or in part, of certain outstanding borrowings of the company and select hotel subsidiaries.
General corporate purposes
Funding general corporate purposes of the company.
(₹ in Crore)
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Leela Palaces Hotels & Resorts Limited, incorporated in 2019 as Schloss Bangalore Limited and renamed after listing to align with its well-known brand, owns, operates, and manages luxury hotels and resorts in India under The Leela brand. The company was backed at IPO by private equity funds affiliated with Brookfield, one of the world's largest alternative asset managers. As of mid-2024 the company operated around 12 to 13 hotels across 11 cities with roughly 3,400 to 3,550 keys, combining owned, managed, and franchised properties, along with a network of restaurants, bars, and cafes. Its portfolio includes several heritage flagship properties and caters to premium leisure, corporate, and group travel segments. Financially, the company moved from significant losses in earlier years to a modest profit in FY25, with revenue growing from about Rs 416 crore in FY22 to roughly Rs 1,407 crore in FY25. A large share of the IPO's fresh issue proceeds was earmarked for repaying borrowings at the company and its hotel subsidiaries.
Ahead of the issue, the company raised about Rs 1,575 crore from 47 anchor investors at the upper price band of Rs 435 per share.
Source: RHP • Analysis provided for informational purposes
Last Updated: 13 July 2026, 5:30 AM
Leading luxury hospitality brand
The Leela is a well-recognised luxury hotel brand in India with a long operating heritage and strong guest loyalty.
Prime, high-barrier locations
Several flagship hotels sit in prime, hard-to-replicate locations, supporting premium pricing power.
Diversified revenue mix
The business draws revenue across leisure, corporate, and group and banqueting segments, reducing reliance on any single demand source.
Experienced sponsor and management
Backing from Brookfield combined with an experienced management team supports disciplined asset management and growth execution.
Revenue concentration in flagship properties
A large share of revenue depends on a small number of flagship hotels, so underperformance at any one property has an outsized impact.
History of losses
The company reported substantial net losses in several recent fiscal years before turning a modest profit in FY25.
High leverage
The company carries significant borrowings, a large portion of which the IPO proceeds are being used to repay.
Leela Palaces Hotels & Resorts Limited
The Leela Palace, Diplomatic Enclave, Africa Avenue, Netaji Nagar, South Delhi, New Delhi, Delhi 110023, India
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Renovation and development risk
Ongoing hotel renovations and new development projects carry execution and timing risk that could affect performance.