Leela Palaces files papers to raise ₹5,000 crore in India's largest hotel sector IPO

Hotel chain Leela Palaces has filed draft papers to raise ₹5,000 crore in what is set to be India's largest-ever IPO in the hotel sector. The maiden offering includes fresh issue of shares worth ₹3,000 crore and offer for sale for shares worth ₹2,000 crore by promoter Project Ballet Bangalore Holdings. Leela Palaces currently operates 12 hotels with 3,382 keys.