The Leela Hotels IPO to open on May 26; aims to raise ₹3,500 crore

Schloss Bangalore Limited’s initial public offering of equity shares bearing face value of Rs. 10 each aggregating up to Rs. 35,000.00 million to open on Monday May 26,2025

• Price Band fixed from Rs. 413 to Rs. 435 per equity share bearing face value of Rs. 10 each of Schloss Bangalore Limited (“Equity Shares”)
• Bid/ Offer Opening Date – Monday, May 26, 2025 and Bid/ Offer Closing Date – Wednesday May 28, 2025
• Anchor Date – The Anchor Investor Bidding Date is one working day prior to Bid/ Offer opening date, being Friday May 23, 2025
• Bids can be made for a minimum of 34 Equity Shares and in multiples of 34 Equity Shares thereafter
• Red Herring Prospectus (“RHP”) Link: https://www.jmfl.com/Common/getFile/4821
• For complete details, please also see price band advertisement published in Financial Express, and Jansatta on May 21, 2025, Link: https://epaper.financialexpress.com/4011803/Mumbai/May-21-2025#page/26

 National, May 21, 2025: Schloss Bangalore Limited (the “Company” or the brand “The Leela”) proposes to open on Monday, May 26,2025, an initial public offering (“Offer”) of equity shares bearing face value of ₹10 each (“Equity Shares”) aggregating up to Rs. 35,000 million (Rs. 3,500 crore).

The Offer comprises a Fresh Issue of Equity Shares aggregating up to Rs. 25,000 million (Rs. 2,500 crore) (the “Fresh Issue”) and an Offer for Sale of Equity Shares aggregating up to Rs. 10,000 million (Rs. 1,000 crore) by the Selling Shareholder – Project Ballet Bangalore Holdings (DIFC) Pvt Ltd (“Promoter Selling Shareholder”).

The Offer is being made in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process, in compliance with Regulation 6(2) of the SEBI ICDR Regulations, wherein at least 75% of the Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”) (the “QIB Portion”), provided that our Company in consultation with the Book Running Lead Managers, may allocate up to 60% of the QIB Portion to Anchor Investors, on a discretionary basis (the “Anchor Investor Portion”), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the price at which Equity Shares are allocated to Anchor Investors. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (excluding the Anchor Investor Portion) (“Net QIB Portion”).

Further, 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIBs, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. If at least 75% of the Offer cannot be Allotted to QIBs, then the entire application money will be refunded forthwith.

Further, not more than 15% of the Offer shall be available for allocation to non-institutional investors (“Non-Institutional Investors” or “NIIs”) (the “Non- Institutional Portion”) of which one-third of the Non-Institutional Portion shall be available for allocation to Bidders with an application size of more than ₹200,000 and up to ₹1,000,000 and two thirds of the Non-Institutional Portion shall be available for allocation to Bidders with an application size of more than ₹1,000,000 and under-subscription in either of these two sub-categories of Non-Institutional Portion may be allocated to Bidders in the other sub-category of Non-Institutional Portion in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. The allocation to each Non-Institutional Investor shall not be less than the minimum application size, subject to availability of Equity Shares in the Non-Institutional Portion and the remaining available Equity Shares, if any, shall be allocated on a proportionate basis in accordance with the conditions specified in this regard in Schedule XIII of the SEBI ICDR Regulations. Further, not more than 10% of the Offer shall be available for allocation to retail individual investors (“Retail Individual Investors” or “RIIs”) (the “Retail Portion”) in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All Bidders (other than Anchor Investors) shall mandatorily participate in this Offer through the Application Supported by Block Amount (“ASBA”) process and shall provide details of their respective bank account (including UPI ID for UPI Bidders (defined hereinafter)) in which the Bid Amount will be blocked by the SCSBs or the Sponsor Bank(s), as the case may be. Anchor Investors are not permitted to participate in the Offer through the ASBA process.

The Equity Shares offered through the Red Herring Prospectus are proposed to be listed on the Stock Exchanges being BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE” and together with BSE, the “Stock Exchanges”). For the purposes of the Offer, NSE is the Designated Stock Exchange.

JM Financial Limited, BofA Securities India Limited, Morgan Stanley India Company Private Limited, J.P. Morgan India Private Limited, Kotak Mahindra Capital Company Limited, Axis Capital Limited, Citigroup Global Markets India Private Limited, IIFL Capital Services Limited (formerly known as IIFL Securities Limited), ICICI Securities Limited, Motilal Oswal Investment Advisors Limited and SBI Capital Markets Limited are the Book Running Lead Managers to the Offer.

All capitalized terms used herein but not defined shall have the same meaning as ascribed to them in the RHP.

Disclaimer:

Schloss Bangalore Limited (the “Company”) is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed the red herring prospectus dated May 20, 2025 (“RHP”) with the Registrar of Companies, Delhi and Haryana at New Delhi. The RHP is available on the websites of our Company, at www.theleela.com, SEBI at www.sebi.gov.in as well as on the websites of the book running lead managers, JM Financial Limited, BofA Securities India Limited, Morgan Stanley India Company Private Limited, J.P. Morgan India Private Limited, Kotak Mahindra Capital Company Limited, Axis Capital Limited, Citigroup Global Markets India Private Limited, IIFL Capital Services Limited (formerly known as IIFL Securities Limited), ICICI Securities Limited, Motilal Oswal Investment Advisors Limited, and SBI Capital Markets Limited at www.jmfl.com, www.business.bofa.com/bofas-india, www.morganstanley.com,www.jpmipl.com,https://investmentbank.kotak.com,www.axiscapital.co.in,www.online.citibank.co.in/rhtm/citigroupglobalscreen1.htm,www.iiflcap.com,www.icicisecurities.com, www.motilaloswalgroup.com, www.sbicaps.com, respectively, and the websites of the stock exchange(s) at www.nseindia.com and www.bseindia.com, respectively. Any potential investor should note that investment in equity shares involves a high degree of risk and for details relating to such risk, see “Risk Factors” of the RHP. Potential investors should not rely on the DRHP filed with SEBI for making any investment decision.

This press release is not an offer of securities for sale in the United States or elsewhere. The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (“U.S. Securities Act”) or any other applicable law of the United States and, unless so registered, may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, the Equity Shares are being offered and sold (a) outside the United States in “offshore transactions” as defined in and in compliance with Regulation S and the applicable laws of the jurisdictions where those offers and sales are made, and (b) in the United States only to persons reasonably believed to be “qualified institutional buyers” (as defined in Rule 144A under the U.S. Securities Act) pursuant to Section 4(a) of the U.S. Securities Act. There will be no public offering in the United States.