Leela Palaces: IPO Proceeds Utilization Report for Q4 FY26 Shows No Deviation

Leela Palaces Hotels & Resorts Ltd (formerly Schloss Bangalore Limited) submitted its Monitoring Agency Report for the quarter ended March 31, 2026. ICRA Limited, the appointed monitoring agency, confirmed that there was no deviation in the utilization of the Initial Public Issue (IPO) proceeds from the stated objects of the issue. The company's IPO, which closed on May 28, 2025, had an issue size of INR 3,500.00 Crore (including OFS) and INR 2,500.00 Crore (excluding OFS), with net proceeds of INR 2,364.402 Crore. ICRA monitored gross proceeds of INR 2,500.00 Crore. The report was reviewed and considered by the Audit Committee on April 28, 2026.