India's Schloss Bangalore, owner and operator of 'The Leela' branded luxury hotels, filed for a 50 billion rupee ($599 million) initial public offering, draft papers on Friday showed.

The company would issue fresh shares worth 30 billion rupees, while existing shareholder Project Ballet Bangalore Holdings (DIFC) will sell shares worth 20 billion rupees.

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Leela-hotels owner Schloss Bangalore files for $599 million India IPO

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