Leela Hotels-parent Schloss Bangalore IPO: Check allotment status, latest GMP & listing date

Schloss Bangalore is likely to finalize the basis of allotment of its shares on Thursday, May 29. Applicant bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate either latest by Friday, May 39. The parent company of the Leela-Hotels saw a dull response from the investors.

The IPO of New Delhi-based Schloss Bangalore was open for bidding between May 26 and May 28. It had offered its shares in the price band of Rs 413-435 per share with a lot size of 34 shares. The company raised a total of Rs 3,500 crore via IPO, which included a fresh share sale of Rs 2,500 crore and offer-for-sale (OFS) of up to 2,29,88,505 equity shares worth Rs 1,000 crore.

The issue was overall subscribed only 4.50 times, fetching 1.74 lakh applications. The allocation for the qualified institutional bidders (QIBs) was subscribed 7.46 times. The portion for non-institutional investors (NIIs) booked subscribed 1.02 times. However, the quota of retail investors was undersubscribed at 83 per cent after the three-day bidding process.

The grey market premium (GMP) of Borana Weaves has seen a sharp correction amid a muted bidding and recent dull listings. Last heard, the company was commanding a premium of only 5-6 in the unofficial market, suggesting a listing gains of around 1-2 per cent for the investors. The GMP stood at Rs 20, before the bidding kicked off.

Schloss Bangalore is one of India's largest luxury hospitality companies by number of keys, with a portfolio of 12 operational hotels comprising 3,382 keys, as of May 31, 2024. Its portfolio includes The Leela Palaces, The Leela Hotels, and The Leela Resorts. It operates through direct ownership and hotel management agreements with third-party owners.

JM Financial, JP Morgan India, BofA Securities India, Morgan Stanley India Company, Kotak Mahindra Capital Company, Axis Capital, Citigroup Global Markets India, IIFL Securities, Motilal Oswal Investment Advisors, SBI Capital Markets are the book running lead managers of the Leela Hotels IPO, while Kfin Technologies is the registrar for the issue.

Investors, who had bid for the issue of Schloss Bangalore, can check the allotment status on the Bombay Stock Exchange (BSE) website:

1) Visit https://www.bseindia.com/investors/appli_check.aspx

2) Under the issue type, click Equity

3) Under the issue name, select Schloss Bangalore Limited in the dropbox

4) Write the application number

5) Add the PAN card ID

6) Click on 'I am not a Robot' and hit search button

Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.

The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.

1) Go to the web portal of KFin Technologies Limited

2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized

3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID

4) In application type, select between ASBA and non-ASBA

5) Enter the details of the mode you selected in Step 2

6) For security purposes, fill the captcha accurately

7) Hit submit.