Brookfield-backed The Leela Palaces, Hotels & Resorts IPO to hit D-Street on May 26, plans to raise Rs...

Brookfield-backed The Leela Palaces, Hotels & Resorts is set to make a significant debut on the stock market with its IPO scheduled for May 26. The IPO aims to raise a total of Rs 3,500 crore, combining a fresh issuance of equity shares valued at Rs 2,500 crore and an offer-for-sale amounting to Rs 1,000 crore. This move marks a pivotal step for The Leela as it seeks to bolster its financial position and expand its luxury hospitality portfolio. The fresh equity issuance is designed to provide The Leela with the necessary capital to reduce debt and fund future growth initiatives. The company, known for its opulent hotels and resorts across India, plans to utilize the proceeds for refurbishing existing properties and exploring new markets. The offer-for-sale component will enable existing shareholders, including Brookfield, to partially exit, providing them with an opportunity to realize returns on their investments. As The Leela enters the public market, investors are keenly watching to gauge its performance amidst a recovering hospitality sector. The IPO is expected to attract significant attention, given the brand's strong reputation and the backing of Brookfield, a global asset management leader. With the hospitality industry showing signs of revival post-pandemic, The Leela's strategic market entry could position it well for future growth and expansion.

— Authored by Next24 Live