Hong Kong-based investment company Ward Ferry Management acquired shares of Leela Hotels operator Schloss Bangalore Ltd. through WF Asian Reconnaissance Fund on the listing day.
WF Asian Reconnaissance Fund bought nearly 17 lakh shares of Schloss Bangalore at Rs 434.13 apiece, amounting to Rs 73 crore.
Leela Hotels stock closed at Rs 435.55 on the NSE, resulting in a premium of 6.85% on its IPO price.
The IPO of Schloss Bangalore was subscribed 4.5 times on its final day, led by demand from institutional buyers, with the retail investor portion remaining undersubscribed.