Grand Continent Hotels IPO allotment today; check status, GMP, listing date

Grand Continent Hotels IPO allotment status: The basis of allotment of shares for Grand Continent Hotels is expected to be finalised today, Tuesday, March 25, 2025. The initial public offering (IPO) of Grand Continent Hotels, which closed its three-day subscription window on Monday, March 24, received a decent response from investors, with the offering being oversubscribed by nearly 1.79 times.

 

Qualified institutional buyers have placed the highest bids, subscribing to the category reserved for them by 2.93 times. This is followed by the non-institutional investors at 1.39 times and retail investors (NIIs) at 1.32 times.

 

Once the allotment is finalised, investors can check their status on the official websites of the National Stock Exchange (NSE) and MUFG Intime India (Link Intime India), the registrar for the IPO.

 

 

Here are the direct links to check the allotment status for the Grand Continent Hotels IPO:

 

Check Grand Continent Hotels IPO allotment status on NSE:

https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

 

Check Grand Continent Hotels IPO allotment status on MUFG Intime India (Link Intime India):

https://in.mpms.mufg.com/Initial_Offer/public-issues.html

 

Grand Continent Hotels IPO details

The SME offering, valued at around ₹74.46 crore, comprises a fresh issue of 6.26 million equity shares and an offer for sale (OFS), with promoter Ramesh Siva offloading 0.32 million equity shares.

 

The public issue was open for subscription from Thursday, March 20, 2025, till Monday, March 24, 2025. Grand Continent Hotels IPO was available at a price band of ₹107-113 per share, with a lot size of 1,200 shares.

 

Link Intime India served as the registrar, while Indorient Financial Services acted as the sole book-running lead manager for the offering.

 

Grand Continent Hotels will not receive the proceeds from the offer for sale, as they will be given to promoter Ramesh Siva, who is participating in the OFS. The company, however, proposes to utilize the proceeds from the fresh issue for the repayment and/or prepayment, in full or in part, of certain outstanding borrowings availed, as well as for the expansion of hotel properties in India. It will also use the proceeds from the fresh issue for general corporate purposes.

 

Grand Continent Hotels IPO grey market premium (GMP), listing estimate

The unlisted shares of Grand Continent Hotels were trading flat at around ₹113 apiece, which is also the upper end of the IPO price, according to sources tracking unofficial market activities. Thus, the Grand Continent Hotels IPO’s grey market premium (GMP) remains Nil on Tuesday.

 

Shares of Grand Continent Hotels are expected to debut on the NSE SME platform tentatively on Thursday, March 27, 2025. The current GMP trend indicates a flat listing of the company's shares. However, it is important to note that GMP is an unregulated market indicator and should not be relied upon for determining the company’s market performance.

 

About Grand Continent Hotels

Grand Continent Hotels operates in the mid-scale hotel segment, catering to upper-mid-priced, mid-priced, and economy customers. As of September 30, 2024, the company has 16 hotels with 753 rooms across Karnataka, Tamil Nadu, Goa, Andhra Pradesh, and Telangana.