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The IPO of Shloss Bangalore Limited, a parent company of the Indian luxury hotel chain ‘The Leela’, will open for subscription from May 26. Retail investors can bid for this by 28 May 2025. On 23 May 2025, anchor investors will be able to bid. Through this issue, the company wants to raise Rs 3,500.
In this IPO, the company will issue 5.75 crore new shares worth Rs 2,500 crore. 2.30 crore shares worth Rs 1,000 crore will be under the offer for sale.
How much money can you spend minimum and maximum? The company has fixed the price band of the IPO ₹ 413 to ₹ 435. Retail investors can do bidding for minimum for a lot, with 34 shares. If you apply for 1 lot for Rs 435, the upper prize band of the IPO, then it will have to invest Rs 14,790.
At the same time, retail investors can apply for maximum 13 lots or 442 shares. For this, investors will have to invest Rs 1,92,270 according to the upper prize band.
10% of the issue reserved for retail investors About 75% of the IPO is allotted for qualified institutional buyers (QIBs). Apart from this, 15% of the issue has been reserved for non-institutional investors and remaining 10% retail investors.
Why is the company bringing this IPO? Shloss Bangalore will use Rs 2,300 crore from the funds collected from this IPO to repay the loan. In addition, the remaining funds will be used for general corporate purposes.
What is IPO? When a company releases its shares for the common people for the first time, it is called an initial public offering i.e. IPO. The company needs money to increase business. In such a situation, instead of taking loans from the market, the company raises money by selling some shares to public or issuing new share. For this, the company brings IPO.
