Leela Hotels IPO, May 22 -- Schloss Bangalore Ltd, the operator of the luxury hotels brand "The Leela" in India, is set to launch its initial public offering (IPO) next week to raise up to Rs.3,500 crore from the primary market. Leela Hotels IPO will open for subscription on May 26, and close on May 28.

Leela Hotels IPO price band has been set at Rs.413 to Rs.435 per share. At the upper-end of the price band, the company aims to raise Rs.3,500 crore from the book-building issue, which is a combination of fresh issue of 5.75 crore equity shares worth Rs.2,500 crore and an offer-for-sale (OFS) component of 2.30 crore shares aggregating to Rs.1,000 crore.

The IPO lot size is 34 shares and the minimum investment amount required by retail in...