Schloss Bangalore Ltd (Leela Hotels) is a luxury hospitality company operating under “The Leela” brand in India. It owns, operates, manages, and develops luxury hotels and resorts, offering premier accommodations and personalized services inspired by Indian hospitality. As of March 31, 2025, the company operates 13 hotels with 3,553 keys, accounting for nearly 18% of luxury keys in key Indian markets.
The Schloss Bangalore Ltd IPO is a book-built issue of ₹3,500 crore, comprising a fresh issue of ₹2,500 crore and an offer for sale of ₹1,000 crore. The IPO will open for subscription on May 26, 2025, and will close on May 28, 2025. The price band is set between ₹413 and ₹435 per share. The minimum lot size for retail investors is 34 shares, requiring an investment of ₹14,790. The IPO is proposed to be listed on the BSE and NSE, with a tentative listing date of June 2, 2025.
Is Schloss Bangalore Ltd IPO Halal or Not?
The Schloss Bangalore Ltd IPO is considered Not Halal and Non-Shariah Compliant because the company fails the “Interest-Bearing Debt to Total Assets” criterion, with an interest-bearing debt ratio of 50.1%, exceeding the permissible 33% limit under Shariah guidelines. Additionally, the business activity is marked as ‘Doubtful,’ which further raises concerns from a Shariah compliance perspective.
Refer to Schloss Bangalore IPO RHP for detailed information.
Shariah Compliance Screening of Schloss Bangalore Ltd IPO
For an IPO or Stocks to be considered Halal, it must pass all the Shariah screening criteria, which include:
| Criteria | Value | Status |
| Business Activity | Hotel & Resort | ❌ Doubtful ! |
| Impermissible Income to Total Revenue | 4.7% | ✅ PASS |
| Interest-Bearing Debt to Total Assets | 50.1% | ❌ FAIL |
| Illiquid Assets to Total Assets Ratio | 78.19% | ✅ PASS |
| Net Liquid Assets vs Market Capitalization | Compliant as per Shariah principles | ✅ PASS |
| Non-Compliant Investments to Total Assets | Less than 33% (Compliant) | ✅ PASS |
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Business Overview – Schloss Bangalore Ltd
Schloss Bangalore Ltd is a luxury hospitality company operating under “The Leela” brand, recognized for offering premium accommodations and personalized services. The company manages and operates a network of 13 luxury hotels across India, covering major markets and holding nearly 18% of luxury hotel keys in the country.
With plans to expand its portfolio to 20 hotels, Schloss Bangalore Ltd aims to strengthen its presence in key tourist and business destinations. The company remains focused on providing world-class hospitality experiences inspired by Indian traditions.
Schloss Bangalore Ltd IPO Timeline
| IPO Opening Date | Mon, May 26, 2025 |
| IPO Closing Date | Wed, May 28, 2025 |
| Expected Allotment Date | Thu, May 29, 2025 |
| Refund Initiation | Fri, May 30, 2025 |
| Shares Credited to Demat | Fri, May 30, 2025 |
| Expected Listing Date | Mon, June 02, 2025 |
| UPI Mandate Confirmation Deadline | 5 PM on May 28, 2025 |
Schloss Bangalore Ltd IPO Price Details
| IPO Date | May 26, 2025 to May 28, 2025 |
| Expected Listing Date | Wed, June 02, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹413 to ₹435 per share |
| Lot Size | 34 Shares |
| Total Issue Size | 8,04,59,769 shares (aggregating up to ₹3,500 Cr) |
| Fresh Issue | 5,74,71,264 shares (aggregating up to ₹2500 Cr) |
| Issue Type | Book-built issue |
| Offer for Sale | 2,29,88,505 shares of ₹10 (aggregating up to ₹1000 Cr) |
| Listing At | BSE, NSE |
| Pre-Issue Shareholding | 27,64,86,614 shares |
| Post-Issue Shareholding | 33,39,57,878 shares |
Schloss Bangalore Ltd Financial Information (Restated)
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 8,266.16 | 7,061.88 | 5,875.54 |
| Revenue | 1,406.56 | 1,226.50 | 903.27 |
| Profit After Tax | 47.66 | -2.13 | -61.68 |
| Net Worth | 3,604.99 | -2,825.72 | -2,511.96 |
| Reserves and Surplus | 3,280.43 | -2,906.20 | -2,582.80 |
| Total Borrowing | 3,908.75 | 4,242.18 | 3,696.18 |
| Amount in ₹ Crore | |||
Conclusion
The Schloss Bangalore Ltd IPO is considered Not Halal and Non-Shariah Compliant due to its high reliance on interest-based debt and a ‘Doubtful’ business activity classification. However, investors should conduct their own due diligence and review the company’s financials periodically for any changes in compliance.
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Hasan is the founder of HalalFinance.co.in, created after personally struggling to find reliable answers about halal investing in stocks. With a finance background and a passion for helping the Muslim community, He now shares well-researched, transparent, and authentic content to empower Muslims on their path to halal wealth-building.
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