Grand Continent Hotels IPO subscribed 0.45 times on the last day, a retail quota was subscribed over 0.44 times, NII was subscribed over 0.14 times, and QIB was 0.71 times respectively.
Details About Grand Continent Hotels IPO
Grand Continent Hotels got approval from SEBI for an IPO of around ₹74.46 crores. Grand Continent Hotels IPO comprises a combination of fresh issues of ₹70.74 crores and an offer-for-sale of Up to 3,28,800 equity shares with a face value of ₹10 each. Further, Grand Continent Hotels had a set price band set of ₹107 to ₹113 Per Share.
In Grand Continent Hotels IPO, 1200 shares were in 1 lot size for retail minimum and maximum category as well. Moreover, 2400 shares were in 2 lot sizes for the S-HNI category.
To invest in Grand Continent Hotels IPO, each investor category has specific investment amounts:
- Retail Investors: Minimum and maximum investment of ₹1,35,600.
- SHNI (S-HNI): Minimum investment of ₹2,71,200.
Grand Continent Hotels IPO’s Subscription Duration
The opening date of Grand Continent Hotels IPO was on March 20, 2025, and the closing date was on March 24, 2025. The Grand Continent Hotel’s IPO allotment was on March 25, 2025, and the investors will receive a refund on March 26, 2025. On the other hand, Grand Continent Hotels is set to be listed on March 27, 2025.
Grand Continent Hotels IPO Funds Deployment
- The proceeds raised from the fresh issue will be used for the repayment and/or prepayment, in full or in part, of certain outstanding borrowings availed by the Company
- The funds will be utilized for the Expansion of the Hotel properties in India.
- Lastly, the remaining funds will be used for the company’s General corporate purposes.
About Grand Continent Hotels Company
Founded in 2011, Grand Continent Hotels is one of the well-known companies involved in the hotel business sector. The business comprises the mid-scale, upper-mid, mid-priced, and economy hotel segments. The Grand Continent Hotels partnered with JV partner entities comprises 16 operational hotel properties and operates a total of 753 hotel keys situated throughout Karnataka (Bengaluru), Tamil Nadu (Hosur), Goa (Anjuna), Andhra Pradesh (Tirupati) and Telangana (Secunderabad) as of September 30, 2024. Grand Continent Hotels focuses on offering unique yet superior quality services to Indian middle-class guests and business travelers while also focusing on providing a value-for-money proposition making sure to provide quality services and affordability to its customers. The company first started its hotel business by establishing the first hotel, Grand Continent in October 2010 with 54 rooms. As of September 30, 2024, the company then expanded its business by establishing 10 hotels with a total of 458 hotel rooms in Bengaluru. The company has shown a strong presence not only domestically but internationally.
Financial Resort of the Grand Continent Hotels Company
In FY24, Grand Continent Hotels recorded a revenue of ₹31.53 crore compared to ₹17.05 crore in 2023. Whereas in FY24, the company generated a profit of ₹4.12 crores compared to a profit of ₹1.05 crores in 2023.
