Leela Hotels IPO, May 21 -- Brookfield-backed Schloss Bangalore, which operates "The Leela" brand of luxury hotels in India, has set the price band for its upcoming initial public offering (IPO) at Rs.413 to Rs.435 apiece.

The IPO will open for subscription on May 26 and close on May 28.

The Brookfield-supported luxury hospitality company reduced its IPO size by 30%, bringing it down to Rs.3,500 crore from the originally planned Rs.5,000 crore.

Up to 75 per cent of the total public issue is allocated for qualified institutional buyers, with up to 60 per cent of that portion-amounting to Rs.1,575 crore-earmarked for anchor investors. Additionally, 15 per cent of the issue is reserved for non-institutional investors, while the remaining ...