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. ;

The company will only issue new shares and existing shareholders will not sell any stake, according to the draft papers.

Schloss Bangalore, owner of Indian luxury hotel chain 'The Leela', has filed for a 50 billion rupee ($599 million) IPO on Friday, aiming to cash in on the country's red-hot stock market.

Schloss Bangalore, an operator of luxury hotels and resorts under the renowned Leela brand, is all set to make an entry into the Indian capital markets. The company filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on September 20,

Schloss Bangalore, owner of Indian luxury hotel chain ‘The Leela’, has filed for a Rs 5,000 ($599 million) IPO on Friday, aiming to cash in on the country’s red-hot stock market. Schloss is the latest in a string of Indian companies rushing to go public in a stock market that is cruising at record highs and is trailing only Wall Street’s Nasdaq and S&P 500 as the top-performing indexes this year.