Grand Continent Hotels IPO: Check Offer Size, Price Band, GMP, Subscription Status And More
Shares of Grand Continent Hotels Ltd. are proposed to be listed on the NSE SME platform on Mar. 27.
Grand Continent Hotels Ltd. launched its initial public offering on Thursday to raise Rs 74.46 crore from the primary market. The leading player in the hospitality sector operates a hotel chain that caters to the mid-market segment. Currently, the company operates 20 properties across 9 cities. It has a presence in Tamil Nadu, Andhra Pradesh, Telangana, Karnataka and Goa. Those who want to bid for shares in this NSE SME issue should check the following details before participating in the subscription.
Grand Continent Hotels IPO: Key Details
The Grand Continent Hotels IPO comprises a fresh issue of 62.6 lakh shares, worth Rs 70.74 crore, and an offer-for-sale of 3.29 lakh shares, amounting to Rs 3.72 crores. The price band for the IPO has been set between Rs 107 and Rs 113 per share.
Retail investors can submit bids for at least a single lot size of 1,200, aggregating to a minimum investment of Rs 1,35,600.
The Grand Continent Hotels IPO subscription will remain open till Mar. 24. The allotment of shares is proposed to be finalised on Mar. 25. The company will transfer the shares to the Demat account of successful bidders on Mar. 26. Refunds for the non-allottees will also be initiated on the same day.
Shares of Grand Continent Hotels Ltd. are proposed to be listed on the NSE SME platform on Mar. 27.
Indorient Financial Services Ltd. is the book-running lead manager of the Grand Continent Hotels IPO. Link Intime India Pvt. Ltd. is the registrar and Alacrity Securities Ltd. is the market maker for the IPO.
Grand Continent Hotels IPO Subscription Status
The Grand Continent Hotels IPO has been subscribed 0.12 times as of 12:50 p.m. on Thursday.
Qualified Institutional Buyers: nil
Non Institutional Investors: 0.37 times
Retail Investors: 0.08 times
*The subscription status will be updated soon
Grand Continent Hotels IPO GMP Today
As per InvestorGain, the grey market premium for the Grand Continent Hotels IPO stood at Rs. 0 as of 11:58 a.m. on Mar. 20. It indicates a potential flat listing for the offer.
Note: GMP does not represent official data and is based on speculation.
Grand Continent Hotels Business and Financials
Founded in 2011, Grand Continent Hotels Ltd. caters to the mid-market segment through its hotel chain. It currently operates 20 properties across nine cities in South India and Goa.
Use of Proceeds
The company has proposed to use the proceeds from the IPO to repay loans, expand hotel properties and for general corporate purposes.
Financials
Grand Continent Hotels Ltd. reported revenue from operations at Rs 31.84 crore in the first six months of FY25 and a net profit of Rs 6.22 crore. In FY24, the company’s revenue from operations nearly doubled to Rs 31.24 crore from Rs 16.8 crore in FY23. Its net profit increased multifold to Rs 4.08 crore in FY24 compared to Rs 1.03 crore in the preceding fiscal.
