Leela Hotels ( Schloss Bangalore ) IPO isn't exactly flying off the shelves. Two days in, and it's barely limped to 13 per cent subscription. While retail investors have chipped in decently, institutional money — the real driver of IPO momentum — is still largely missing in action.
Unless there's a last-minute rush from big players, this one might struggle to cross the finish line.
What's the subscription status so far?
Here's how the bidding looks as of day two (May 27, 2025):
| Category | Shares offered | Shares bid | Subscription (x) |
|---|---|---|---|
| Qualified institutional buyers | 2,54,23,729 | 28,78,168 | 0.11 |
| Non-institutional investors | 1,27,11,864 | 12,28,998 | 0.1 |
| Retail individual investors | 84,74,576 | 33,45,872 | 0.39 |
| Total | 4,66,10,169 | 74,39,404 | 0.16 |
So far, retail investors have done most of the heavy lifting with a 39 per cent subscription. But the HNI (high net worth individuals) and QIB (qualified institutional buyers) camps are still in wait-and-watch mode.
The issue now depends on whether big-ticket bids show up fashionably late on day three - a common occurrence in IPO land. But so far, the appetite looks lukewarm.
Why the hesitation?
It's not uncommon for institutional bidders to swoop in on the last day, once they've seen how the broader market responds. However, the lack of action from both QIBs and HNIs at this stage could be a red flag.
Also, no anchor investors or marquee names have publicly thrown their weight behind the issue, which doesn't help build hype or confidence.
About Schloss Bangalore
Schloss Bangalore operates in the premium serviced residences and hospitality space - upscale, long-stay properties aimed at corporate travellers and expats. The company wants to ride Bangalore's booming real estate and hospitality demand.
The takeaway
If you've applied in the retail category, the odds of allotment have just improved, mainly due to underwhelming demand. That's not always a great sign.
Right now, Schloss's IPO story is more slow burn than blockbuster. Unless day three brings in a flood of institutional bids, this one might struggle to cross the line.
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Disclaimer: This is not a stock recommendation. This story was created with the assistance of artificial intelligence and is intended for informational purposes only. Please take it with a pinch of salt and do your own research or consult a financial advisor before making investment decisions.
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