Leela hotels makes weak market debut, list 7% below IPO price

Schloss Bangalore Ltd, owner of “The Leela” brand, had a weak stock market debut, listing below its IPO price. Shares opened at Rs 406 on NSE and Rs 406.50 on BSE, against an IPO price of Rs 435. Despite the brand’s strength and expansion, investor caution prevailed. The IPO was subscribed 4.5 times.