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Five-star hotel chain 'The Leela Palace' to file for Rs 5,000 crore IPO soon: Report
The share sale of The Leela Palace will be managed by eleven investment banks such as Kotak Mahindra Capital, JM Financial, BofA Securities, Morgan Stanley, JP Morgan, Axis Capital, Citi, ICICI Securities, IIFL Capital, Motilal Oswal and SBI Caps
The Leela Palace, Jaipur
Five-star hotel and luxury resort chain, The Leela Palace, will reportedly file its initial public offering (IPO) to raise Rs 5,000 crore soon.
According to a report by Moneycontrol, the luxurious hotel chain will use Rs 3,000 crore for the growth capital and the remaining Rs 2,000 crore with promoter Brookfield looking to dilute stake.
Toronto-based Brookfield Asset Management acquired four of Leela’s assets in Delhi, Bangalore, Udaipur, and Chennai from JM Financial Asset Reconstruction Co in March 2019 for Rs 3,950 crore. The imminent IPO will exclude the Mumbai branch as it is already listed as Hotel LeelaVentureLtd (HLV).
The share sale of The Leela Palace will be managed by eleven investment banks such as Kotak Mahindra Capital, JM Financial, BofA Securities, Morgan Stanley, JP Morgan, Axis Capital, Citi, ICICI Securities, IIFL Capital, Motilal Oswal and SBI Caps.
Recently, Ventive Hospitality, a joint venture between Pune-based real estate developer Panchshil Realty and global investment firm Blackstone filed its draft IPO documents to raise Rs 2,000 crore.
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