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, 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 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.

The Brookfield Asset Management-backed company aims to raise Rs 3,000 crore via fresh issue, and Rs 2,000 crore through offer-for-sale route, as per the draft red herring prospectus