Grand Continent Hotels IPO opens today; check price band, GMP, key dates

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Grand Continent Hotels IPO: The initial public offering (IPO) of hospitality company Grand Continent Hotels opens for subscription today, March 21, 2025. At the upper end, the company aims to raise Rs 74.4 crore from the public offering, which comprises a fresh issue of 62.4 lakh equity shares, and an offer for sale (OFS) of 3.28 lakh shares by promoter Ramesh Siva. 

 

Here are the key details of the Grand Continent Hotels IPO from its Red Herring Prospectus (RHP):

 

Grand Continent Hotels IPO price band, lot size

Grand Continent Hotels has set the IPO price band in the range of Rs 107 to Rs 113 per equity share. Accordingly, investors can bid for a minimum of Rs 1,200 shares and in multiples there off. 

A retail investor would need a minimum of Rs 1,28,400 to bid for one lot of 1,200 shares. High net-worth individuals (HNIs) can bid for minimum two lots or 2,400 shares worth Rs 2,71,200.

 

Grand Continent Hotels IPO grey market premium (GMP)

The unlisted shares of Grand Continent Hotels were trading flat at around Rs 113 per share in the grey market ahead of the opening of the public offering, according to the sources tracking unofficial markets. 

 

Grand Continent Hotels IPO allotment date, listing date

Grand Continent Hotels IPO will remain available for subscription till Monday, March 24, 2025. The basis of allotment is likely to be finalised on Tuesday, March 25. For successful investors, shares will be credited to the respective demat accounts on Wednesday, March 26, 2025. Refunds for unsuccessful investors will be initiated on the same day, according to the RHP.

 

The company is expected to list on the NSE SME tentatively on Thursday. March 27, 2025.

 

Grand Continent Hotels IPO registrar, lead manager

MUFG Intime India serves as the registrar for the Grand Continent Hotels public issue. Indorient Financial Services is the sole book-running lead manager. 

 

Grand Continent Hotels IPO objective

From the net proceeds, the company intends to utilise Rs 34.08 crore for repayment and/or prepayment, in full or in part, of certain outstanding borrowings, Rs 16.79 crore for expansion of hotel properties in India and the remaining amount for general corporate purposes. as per the RHP. Net proceeds consist of the gross proceeds from the fresh issue after deducting the offer related expenses. 

 

About Grand Continent Hotels

Grand Continent Hotels operates in the mid-scale hotel sector, consisting of the upper-mid priced, mid-priced and economy hotel segments. The company has 16 operational hotels and operates a total of 753 keys as of September 30, 2024 across states of Karnataka (Bengaluru), Tamil Nadu (Hosur), Goa (Anjuna), Andhra Pradesh (Tirupati) and Telengana (Secunderabad). Its adjusted occupancy across all properties is 72.33 per cent for the six months period ended September 30, 2024, 75.17 per cent for FY24, 79 per cent for FY23 and 61.90 per cent for FY22. 

 

Grand Continent Hotels financial overview

For the six months period ended September 30 2024, the Grand Continent Hotels reported a revenue from operations of Rs 31.83 crore and profit after tax (PAT) of Rs 6.22 crore. In FY24, the company reported revenue from operations of Rs 31.23 crore, up 85.9 per cent from Rs 16.80 crore reported in fiscal year 2023-23.