Intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
THELEELA · price
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Schloss Bangalore Limited (brand: The Leela) has invested INR 470 crores in its wholly-owned subsidiary Schloss Chanakya Private Limited through 4.7 crore compulsory convertible preference shares (CCPS) at INR 100 each via preferential placement, completed on June 4, 2025. The company has also extended inter-corporate deposits of INR 582 crores to Schloss Chanakya and INR 145.5 crores to Schloss Chennai Private Limited, all funded through IPO proceeds as outlined in the prospectus dated May 28, 2025. The funds routed to Schloss Chanakya are intended for further infusion into Tulsi Palace Resort Private Limited (a step-down subsidiary) to repay its Non-Convertible Bonds. Schloss Chanakya, in the hotels and resorts business, reported FY25 turnover of about INR 317.86 crores, up from INR 296 crores in FY24 and INR 230.78 crores in FY23.
This is a planned deployment of freshly raised IPO funds in line with the company's disclosed use of proceeds, signaling execution of its stated growth and deleveraging plans. For shareholders, it reinforces capital discipline and supports the long-term capital structure of the hotel business without any new equity dilution at the listed entity level.