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Brookfield-backed Leela hotels owner Schloss files for $599 mn IPO

VCCircle

VCCircle · 11m ago

Brookfield-backed Leela hotels owner Schloss files for $599 mn IPO

Indian luxury hotel chain owner, Schloss Bangalore, has filed for a $599 million initial public offering (IPO) as the country's stock market continues to perform well. The IPO will include fresh shares worth 30 billion rupees, while shareholder Project Ballet Bangalore Holdings will sell shares worth 20 billion rupees. The company plans to use the proceeds to repay debt and expand its hotel chain. The hospitality market in India is expected to reach $31 billion by 2029.

Related News

Brookfield-backed Leela hotels owner Schloss slashes IPO size by 30%

VCCircle

VCCircle · 3m ago

Brookfield-backed Leela hotels owner Schloss slashes IPO size by 30%

Schloss Bangalore, the owner of India's Leela hotels and backed by Brookfield, reduced its IPO size by 30% to 35 billion rupees ($409 million), as detailed in its prospectus. Initially, the company aimed for a 50 billion-rupee offering. The IPO is scheduled for May 26-28, with large "anchor" investors invited to bid on May 23.

Leela hotels owner Schloss, Aegis Vopak IPOs fully sold on final day

VCCircle

VCCircle · 3m ago

Leela hotels owner Schloss, Aegis Vopak IPOs fully sold on final day

Initial public offerings (IPOs) for Leela hotels-owner Schloss Bangalore and Aegis Vopak Terminals were oversubscribed on their final day, primarily due to institutional investor interest as retail demand was weak. The IPOs occurred amid a recovering Indian market with IPO proceeds down 29% year-on-year. Schloss and Aegis sought valuations of $1.7 billion and $3.05 billion, respectively. Institutional buyers showed strong interest, while retail investors found the valuations demanding amidst ongoing market uncertainties.

SEBI approves IPOs of Ather Energy, Leela Hotels owner, 4 others

Inshorts · 8m ago

SEBI approves IPOs of Ather Energy, Leela Hotels owner, 4 others

SEBI has approved the IPOs of EV maker Ather Energy and Leela Hotels' parent firm Schloss Bangalore. Oswal Pumps, Quality Power Electrical Equipments, Ivalue Infosolutions and Fabtech Technologies also received the SEBI nod to launch their IPOs. Schloss' IPO will be worth ₹5,000 crore, while Ather's IPO will have a fresh issue worth ₹3,100 crore and an offer-for-sale component.

Hyundai, Swiggy, NTPC Green-India's biggest IPOs of 2024

Money Control

Money Control · 10m ago

Hyundai, Swiggy, NTPC Green-India's biggest IPOs of 2024

1. Hyundai Motor India's $3 billion IPO opens for subscription next week with the aim of achieving a valuation of around $19 billion. 2. Swiggy, backed by SoftBank, is planning an IPO worth $1.25 billion. 3. NTPC's green energy arm has filed for a $1.2 billion IPO. 4. Bajaj Housing Finance's shares have more than doubled after a successful $782 million IPO. 5. Ola Electric's $734 million IPO in August garnered interest from investors like Fidelity and Nomura. 6. Schloss Bangalore, backed by Brookfield, has filed for a $599 million IPO. 7. Bharti Hexacom's $511 million IPO in April received bids exceeding $8 billion. 8. Aadhar Housing Finance raised $358 million through its IPO in May.

Leela Palaces Parent Firm to Float Rs 3,500-Crore IPO on May 26; Fixes Price Band at Rs 413-435/Share

OutlookIndia

OutlookIndia · 3m ago

Leela Palaces Parent Firm to Float Rs 3,500-Crore IPO on May 26; Fixes Price Band at Rs 413-435/Share

Schloss Bangalore Ltd, the parent company of Leela Palaces Hotels & Resorts, plans to launch a Rs 3,500-crore IPO from May 26-28, with a price band set at Rs 413-435 per share. The company, valued over Rs 14,500 crore, aims to repay debts and fund corporate expenses with the proceeds. The IPO includes a fresh equity issue and an offer for sale by the promoter. Shares will list on June 2.

Brookfield, Tiger Global portfolio firms get IPO approval

VCCircle

VCCircle · 8m ago

Brookfield, Tiger Global portfolio firms get IPO approval

Brookfield Asset Management and Tiger Global-backed firms received approval from India's SEBI for their IPOs. Electric two-wheeler manufacturer Ather Energy, supported by Tiger Global, aims to raise Rs 3,100 crore through new share issues and an offer for sale (OFS), with funds directed toward factory setup, debt repayment, R&D, and marketing. Schloss Bangalore, backed by Brookfield, seeks Rs 3,000 crore via IPO, using funds for debt repayment and corporate needs.

True North-backed Anthem Bio files for $397 mn IPO

VCCircle

VCCircle · 8m ago

True North-backed Anthem Bio files for $397 mn IPO

Anthem Biosciences, a contract drugmaker backed by True North, has filed for a 33.95-billion-rupee ($397 million) initial public offering. The IPO will involve private equity firm True North and DavosPharma selling shares, while Anthem itself will not offer any shares. The company, specializing in drug discovery and manufacturing, aims to capitalize on India's booming IPO market in 2023, amid growing global interest in Indian manufacturing due to reduced reliance on Chinese contractors.

Brookfield-backed CleanMax to file ₹4,000-5,000 cr IPO via confidential route

Livemint

Livemint · 28d ago

Brookfield-backed CleanMax to file ₹4,000-5,000 cr IPO via confidential route

CleanMax Enviro Energy Solutions, a renewable energy company backed by Brookfield, is planning to file for a confidential IPO valued at ₹4,000-5,000 crore. The Mumbai-based company aims to submit draft papers to the Securities and Exchange Board of India by the end of August. With Brookfield owning 48% of CleanMax, the move seeks to leverage growing investor interest in India's renewable energy sector.

Brookfield India REIT raises $415 mn from IFC, others

VCCircle

VCCircle · 8m ago

Brookfield India REIT raises $415 mn from IFC, others

Brookfield India Real Estate Trust has raised $415 million by selling units to institutional investors such as the International Finance Corporation (IFC). The funds will be used to reduce leverage and acquire high-quality assets. This is the second institutional placement for the trust since its IPO in 2021. Brookfield India REIT manages 10 Grade-A assets across major cities in India and has a total leasable area of 28.9 million sq ft.

Amwoodo raises $1 Mn from Zerodha-backed Rainmatter

Entrackr

Entrackr · 1y ago

Amwoodo raises $1 Mn from Zerodha-backed Rainmatter

Bamboo products maker Amwoodo has raised $1 million in funding from Zerodha-backed venture fund Rainmatter. The proceeds will be used for upgrading machinery and equipment, upskilling artisans and facilitating expansion initiatives. Founded in 2019, Amwoodo specialises in manufacturing bamboo items like combs, toothbrushes, razors, slippers, compostable sanitary bags, and towels. The company directly sources bamboo from around 400 farmers in the northeast and collaborates with about 380 artisans. The final refinement of products to meet export standards occurs in its factories located in Howrah, Kolkata. The platform operates in both business-to-business (B2B) and business-to-consumer (B2C) sectors, with major clients including hospitality chains like Taj Hotels and The Leela, and direct-to-consumer brands such as Himalaya, Man Company, Nat Habit, and Kimirica. The Kolkata-based firm claims to have achieved sales worth Rs 21.72 crore in the last financial year. For the ongoing financial year, the company aims to reach sales of approximately Rs 60 crore.

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