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Luxury hotel chain Leela Palaces is preparing to bring IPO, know the update

Luxury hotel chain Leela Palaces, Hotels and Resorts is preparing to launch its Initial Public Offering ( IPO). The company may soon file a draft paper in other words Draft Red Herring Prospectus (DRHP) with the Securities Exchange Board of India – SEBI for the IPO.

According to media reports, the company is planning to raise Rs 5,000 crore from the public issue. With this size, it will be the largest IPO in the country’s hotel sector so far. Leela Palaces was started in the year 1986 by CP Krishnan Nair. Currently, it is owned by Brookfield Asset Management.

New shares worth Rs 3,000 crore will be issued in the IPO of Leela Palaces

According to reports, this is a mega issue for the hospitality sector and the company may soon file draft papers with SEBI. New shares worth Rs 3,000 crore will be issued in the IPO. This money will be used for growth capital. Along with this, there will also be an offer for sale of Rs 2,000 crore.

Under this, promoter Brookfield wants to reduce its stake. 11 investment banks including Kotak Mahindra Capital, JM Financial, BofA Securities, Morgan Stanley, JP Morgan, Axis Capital, Citi, ICICI Securities, IIFL Capital, Motilal Oswal and SBI Caps are the book-running lead managers for the IPO of Leela Palaces.

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  • Kumar Bahukhandi

    Kumar has written mostly short stories and on human behavior that changed the day to day course of the people who engineered them. He says I am always myself... I just hate being someone else...It's so fake and unreal..."!!I have an everyday religion that works for me. Love yourself first, and everything else falls into line...... I am just a next door person A friend of friends, A Journalist ,who respects every person regardless of his/her stature (but yes, disregards cunning and selfish people).Learnt to get in touch with the silence within myself and knew that everything in life has a purpose. A very simple, Introvert person who believe in "Simple Living and High Thinking", trusts in Modesty. Very truthful to self basic instincts, work, hobbies and family. I Always Listen and Obey what my heart, my inner voice, my soul tells me. I prefer to be true to myself, even at the hazard of incurring the ridicule of others.

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