Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
THELEELA · price
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Schloss Bangalore (Leela Palaces, THELEELA) will subscribe to ₹67.49 crore worth of equity shares in its 50:50 joint venture Leela BKC Holdings Private Limited (LBHPL), with the remaining 50% held by Brookfield affiliate Arliga Ecospace Business Park. The investment, priced at ₹100 per share (including ₹90 premium), is part of a rights issue to fund capital expenses for a mixed-use project on a Bandra Kurla Complex plot leased from MMRDA in June 2025. The project includes a 250-key luxury palace hotel with the Arq Club and a roughly 700,000 sq ft commercial tower. LBHPL is also separately raising funds via privately placed unsecured non-convertible debentures. Leela's 50% shareholding in LBHPL will remain unchanged after the rights issue, with the transaction structured as a proportionate rights offer (not a related party deal).
Shareholders should view this as a sizeable capital deployment (~₹67.5 crore) to expand Leela's luxury hotel and commercial footprint in Mumbai's prime BKC district, with risk and capital shared equally with Brookfield. Since ownership in the JV is unchanged, the main upside is from the project's future returns, while the debenture component by LBHPL keeps Leela's direct leverage contained.