Schloss Bangalore IPO Day 2 Update: Subscribed 9% So Far: Check Live GMP Details

On the second day, the Rs. 3,500 crore IPO of Schloss Bangalore Limited, the operator of The Leela Palaces, Hotels & Resorts, has garnered a total subscription of 9% across all investor categories, according to data from BSE and NSE. The subscription for the Schloss Bangalore IPO will remain open until 28 May.

Retail Individual Investors (RIIs) have shown the most interest, subscribing to 29% of their allotted quota, up from 21% on Day 1. Small Non-Institutional Investors (SNII) have subscribed 7%, while Big Non-Institutional Investors (BNII) have subscribed 4%. Qualified Institutional Buyers (QIBs) have maintained a subscription level of 3% as of 11:06 AM on Day 2, May 27th.

The IPO, priced between Rs. 413 and Rs. 435 per share, comprises a fresh issue of Rs. 2,500 crore and an offer-for-sale of Rs. 1,000 crore. It is scheduled to close on May 28th, with listing expected on June 2nd.

Schloss Bangalore IPO GMP on Day 2

The latest grey market premium, or GMP, for the Leela Hotels IPO stands at Rs 12.5 as of May 27, 10:54 AM, according to data from Investor Gain. With the IPO price band capped at Rs. 435.00, the estimated listing price is Rs. 447.5 per share (i.e., cap price + current GMP). This suggests a potential listing gain of approximately 2.87% per share based on the latest GMP trend.

Schloss Bangalore IPO Price Band and Lot Size Details

The Schloss Bangalore IPO comes with a price band ranging from Rs. 413 to Rs. 435 per share. This is a book-built issue with a total size of Rs. 3,500 crore. For retail investors, the minimum application size is one lot consisting of 34 shares. At the lower end of the price band, the minimum investment amounts to Rs 14,042, while at the upper end, it increases to around Rs 14,790.

Should You Apply? What Brokerage Firm Say

The Leela Hotels IPO has received a mixed bag of recommendations from various broking and research firms. Several analysts, including Anand Rathi, BP Equities, Canara Bank Securities, Geojit Securities, KR Choksey, SMIFS Limited, and Ventura Securities, have given a "Subscribe" rating, indicating potential listing gains.

On the other hand, names such as Ashika Research, Axis Capital, Bajaj Financial Securities, Cholamandalam Securities, SBICAP Securities, and SMC Global have maintained a "Neutral" stance, citing valuation or sectoral concerns.

About Schloss Bangalore Limited

Established in March 2019, Schloss Bangalore Limited is a premium hospitality company based in Bengaluru, operating under "The Leela" brand. The company came into existence after Brookfield Asset Management acquired The Leela Palace Bengaluru and built a scalable luxury hotel platform. Today, Schloss operates 13 high-end hotels across 11 cities in India with over 3,500 rooms managed through a mix of owned, franchised, and managed models.

Disclaimer: The recommendations made above are by market analysts and are not advised by either the author, nor GoodReturns. The author, nor the brokerage firm nor GoodReturns would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.