Schloss Bangalore, parent company of the Leela Hotels, has filed for a $599 million IPO, the largest ever in India's hotel industry.

Schloss Bangalore, parent of The Leela hotel chain, has filed DHRP for a ₹5,000 crore IPO, intending to raise ₹3,000 crore through new shares and ₹2,000 crore via an offer for sale. ;

Schloss Bangalore, which owns The Leela luxury hotels, has filed for a 50 billion rupee IPO amid India's robust stock market. Proceeds will be used to

If successful, this would be the largest IPO in the hotel sector in the Indian stock market to date. Leela Palaces was founded in 1986 by CP Krishnan Nair and is currently owned by Brookfield Asset Management.

The mega IPO has a syndicate of as many as 11 investment banks. In March 2019, Brookfield acquired four of The Leela’s assets in Delhi, Bangalore, Udaipur and Chennai from JM Financial Asset Reconstru

Schloss is issuing fresh shares worth 30 billion rupees, while shareholder Project Ballet Bangalore Holdings (DIFC), an affiliate of Brookfield Asset Management, is selling shares worth 20 billion rupees.