The IPO of Schloss Bangalore Ltd, a company operating Leela Palace Hotels and Resorts, is going to open for subscription on 26 May tomorrow. If you are planning to invest in IPO, then it can prove to be a great opportunity for you to earn. Actually, the size of this issue is Rs 3500 crore and the special thing is that it has already raised Rs 1,575 crore before it is open, yes this IPO has got tremendous response from anchor investors. Let’s know its price band, lot size to other important details …
2500 crore new shares will be issued
The stir in the IPO market on Dalal Street has again intensified and many companies are launching their IPOs one after the other. In this sequence, on 26 May, the IPO of Schloss Bangalore Limited, the promoter company of Leela Hotels, is being opened and investors will be able to invest in it by May 28. Leela Hotels will raise Rs 2,500 crore by issuing 5.75 crore new shares, while 2.30 crore shares will be sold by the current shareholders, which will bring Rs 1,000 crore through the offer for sale (offs).
This is the price band of IPO
Now let’s talk about the price band of Leeta Hotel IPO, then let us know that the company has set between Rs 413 to Rs 435 per share for this IPO. Talking about the total shares, Shloss Bangalore is issuing 8,04,59,769 shares with a face value of Rs 10. Its listing will be on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
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At least so much money
Now it is said that about the lot size fixed by the company for this IPO, Schloss Bangalore lot size 34 shares have been fixed. Meaning any investor will have to bid for at least so many shares and calculates according to the upper price band, then investors will have to invest at least Rs 14790. The maximum lot of lot size for retail investors has been kept at 13 and they will have to bid for 442 shares, for which Rs 1,92,270 will have to be imposed. After the IPO, the market cap of Leela Hotels is expected to be Rs 10,155.36 crore.
Anchor investors looted love
This IPO of the company of Leela Hotel was opened for anchor investors on Friday before it opened. According to the circular uploaded on the BSE website on Friday, the anchor book received great response from others including HDFC Mutual Fund (MF), ICICI Prudential MF, Nippon India MF, Mirae MF and Investco MF Company. 1575 crore rupees have been collected through this. Let us know that after the closure of May 28, the listing in the stock market of this IPO can be held on June 2.
(Note- Before making any kind of investment in the stock market or IPO, please consult your market speech.)