Leela Palace-operator Schloss Bangalore has submitted draft papers to the capital markets regulator Sebi for a Rs 5,000 crore initial public offering (IPO). The luxury hospitality brand intends to raise Rs 3,000 crore through a fresh issue and Rs 2,000 crore via the offer-for-sale route, as outlined in its draft red herring prospectus. Additionally, the company may consider a pre-IPO placement of Rs 600 crore prior to the public issue's launch. Project Ballet Bangalore Holdings (DIFC) is identified as the selling shareholder in the offer-for-sale.