The Grand Continent Hotels' Initial Public Offering (IPO) is now open, offering investors a chance to join its growing hospitality business. The IPO is available for bidding from Thursday, March 20, 2025, to Monday, March 24, 2025, with a price band set between ₹107 and ₹113 per share.
The total issue size stands at ₹74.46 crores, which includes a fresh issue of 62.60 lakh shares worth ₹70.74 crores and an offer for sale (OFS) of 3.29 lakh shares valued at ₹3.72 crores. Investors can conveniently apply for the IPO online through authorised platforms.
Lot size and investment requirements
The minimum lot size is 1,200 shares, requiring an investment of ₹1,28,400. High Net-worth Individuals (HNIs) can subscribe to a minimum of 2,400 shares, which amounts to ₹2,71,200.
Qualified Institutional Buyers (QIBs) have a 50% reservation, retail investors 35%, and Non-institutional Investors (NIIs) 15%.
How will the IPO proceeds be used?
A portion will go towards repaying certain borrowings, reducing the company's financial burden. Another major focus is the expansion of hotel properties across India, allowing the company to strengthen its presence in the hospitality sector. Additionally, a part of the proceeds will be used for general corporate purposes.
Allotment and listing timeline
The basis of allotment will be finalised on Tuesday, March 25, 2025. Successful applicants will receive their shares in their Demat accounts on March 26, 2025, while refunds for unsuccessful bids will also be processed that day.
Finally, the shares will be listed on the NSE SME platform Emerge on March 27, 2025, marking an important milestone for the company.
Summing up
Grand Continent Hotels has built a strong presence in the hospitality industry, offering accommodations across various segments. With 16 hotels across Karnataka, Tamil Nadu, Andhra Pradesh, Goa, and Telangana, the company continues to strengthen its presence, with Bengaluru housing 10 of its properties.
Backed by a dedicated workforce of 538 employees as of September 30, 2024, it remains committed to growth and operational excellence. As it moves forward with its expansion plans, the company's strong foundation and strategic vision position it well for future success in the industry.
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