Skift Take
With India's travel and hospitality industry thriving, it's the perfect moment for Leela to go public. The buzz around IPOs is definitely heating up, and more companies are feeling confident to jump into the market and raise funds.
The Leela Palaces, Hotels and Resorts looks to make a significant entry into the public market, seeking a valuation of approximately $2.5 billion in its upcoming initial public offering (IPO), as reported by Mint.
Expected to raise around INR 31.5 billion ($377 million), this would make it the largest IPO in the history of India's hospitality sector. The report also noted that promoter Brookfield will initially sell 15% of its stake to the public in the listing likely to come in 9 months, and will sell an additional 10% over the next three years.
However, the IPO will exclude The Leela Mumbai, which Hotel Leelaventure (HLV) Limited, the original owners of Leela, promotes and is already listed.
Right Time for an IPOSpeaking with CNBC TV18 recently, Ankur Gupta, managing partner at Brookfield Asset Management, hinted at the imminent IPO, "T