Grand Continent Hotels IPO Allotment Status: Check Latest GMP, Steps To Verify Status
Investors, who bid for the NSE SME issue, can check the Grand Continent Hotels IPO allotment status on the websites of MUFG Intime India and the NSE.
The initial public offering (IPO) of Grand Continent Hotels Ltd. was subscribed 1.86 times on the last day of bidding on Monday. The NSE SME issue attracted bids for 81,97,200 shares compared to 43,86,000 on offer.
After the end of bidding for the Rs 74.46-crore IPO, the investors are now waiting for the share allotment status to be finalised by the company.
The SME IPO of Grand Continent Hotels was fully subscribed on Day 3, after receiving a muted response on the first two days of bidding. The Qualified institutional investors subscribed their quota 2.93 times and the non-institutional investors (NIIs) booked their segment 1.74 times. The retail quota was booked 1.32 times.
The allotment of shares for the Grand Continent Hotels IPO is expected to be finalised on Tuesday, Mar. 25. The hotel chain will initiate refunds and transfer of shares to the demat accounts on Mar. 26.
Shares of Grand Continent Hotels Ltd. are scheduled to be listed on the NSE SME platform, Emerge, on Mar. 27.
Indorient Financial Services Ltd is the book-running lead manager of the Grand Continent Hotels IPO. Link Intime India Pvt. Ltd., renamed MUFG Intime India Pvt. Ltd. recently, is the issue registrar.
The IPO investors can check the share allotment status on the websites of MUFG Intime India Pvt. Ltd. and the NSE.
Steps to check Grand Continent Hotels IPO Allotment Status On MUFG Intime India
Visit the IPO allotment page on the issue registrar’s official website here.
Select 'Grand Continent Hotels Ltd.' from the drop-down menu for company names. It’s important to note that the company name will only appear after finalisation of the share allotment status.
Choose any of these options: PAN, Application Number, DP/Client ID, or Account No / IFSC.
Enter the details as per your selection.
Click on the ‘Submit’ button to check the details.
Steps To Check Grand Continent Hotels IPO Allotment Status On NSE
Visit the IPO allotment page on the NSE website here.
Select 'Equity & SME IPO bid details'.
Select the company symbol 'GCHOTELS' from the dropdown list for issue symbols.
Enter PAN details and Application Number.
Click on the Submit button to check the share allotment details.
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Grand Continent Hotels IPO GMP Today
The latest grey market premium (GMP) for the Grand Continent Hotels IPO stood at Rs 1 on March 25, according to InvestorGain. It indicates a near flat listing for the IPO.
Unlisted shares of Grand Continent Hotels are expected to list on NSE at Rs. 114 against the upper price band of Rs 113, indicating a premium of 0.88%.
Note: GMP is not an official source of data and is based on speculation.
Use Of IPO Proceeds
The company will use the proceeds from the IPO to repay outstanding borrowings, expand its hotel properties in India and for general corporate purposes.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
