Grand Continent Hotels IPO listing today: Shares list flat on NSE SME

Grand Continent Hotels IPO was a book-built issue of Rs 74.46 crore, comprising a fresh issue of 6.2 million shares worth ₹70.74 crore and an OFS of 0.32 million shares amounting to ₹3.72 crore

Shares of hospitality sector company, Grand Continent Hotels made a muted debut on the NSE SME platform on Thursday, March 27, 2025. The stock listed at ₹112.90 per share on the NSE SME, down 0.09 per cent from the issue price of ₹113 per share.

 

The listing of Grand Continent Hotels was significantly in line with the market expectations. Ahead of the listing, unlisted shares of Grand Continent Hotels were commanding a grey market premium (GMP) of ₹1 or 0.88 per cent, trading at Rs 114 per share, according to the sources tracking unofficial markets.   ALSO READ | Time to cherry pick travel-related stocks ahead of holiday season: Analysts 

 

Grand Continent Hotels IPO details

Grand Continent Hotels IPO was a book-built issue of Rs 74.46 crore, comprising a fresh issue of 6.2 million shares worth ₹70.74 crore and an offer for sale (OFS) of 0.32 million shares amounting to ₹3.72 crore. The price band was set in the range of ₹107 to ₹113 per equity share.   

 

The SME IPO opened for subscription on Friday, March 21, 2025, and closed on Monday, March 24, 2025. It received a decent response from investors, with the issue being oversubscribed 1.79 times. Retail investors subscribed for 1.32 times the reserved quota, non-institutional investors (NIIs) 1.39 times, and qualified institutional buyers (QIBs) 2.93 times.

 

From the net proceeds, the company aims to utilise ₹34.08 crore for repayment and/or prepayment, in full or in part, of certain outstanding, ₹16.79 crore for expansion of hotel properties in India and the remaining amount for general corporate purposes, according to the red herring prospectus (RHP). Net proceeds consist of the gross proceeds from the fresh issue after deducting the offer-related expenses.   ALSO READ | Tata Motors, Motherson Sumi, others slip upto 7.5% on Trump 25% auto tariff

 

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

 

About Grand Continent Hotels

Established in November 2011, Grand Continent Hotels operates in the mid-scale hotel sector, consisting of upper-mid priced, mid-priced and economy hotel segments. The Karnataka-based company along with JV Partner Entities have 16 operational hotel properties. It operates a total of 753 hotel keys as of September 30, 2024, across the states of Karnataka, Tamil Nadu, Goa, Andhra Pradesh and Telangana. The company's occupancy across all hotel properties is 67.69 per cent for the six months period ended September 30, 2024, 71.98 per cent for FY24, 73.92 per cent for FY23 and 61.04 per cent for FY22.