Grand Continent Hotels IPO Closed
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Schedule of Grand Continent Hotels
| Issue open date | 20 Mar 2025 |
| Issue close date | 24 Mar 2025 |
| UPI mandate deadline | 24 Mar 2025 (5 PM) |
| Allotment finalization | 25 Mar 2025 |
| Refund initiation | 26 Mar 2025 |
| Share credit | 26 Mar 2025 |
| Listing date | 27 Mar 2025 |
| Mandate end date | 08 Apr 2025 |
| Lock-in end date for anchor investors (50%) | 24 Apr 2025 |
| Lock-in end date for anchor investors (remaining) | 23 Jun 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Grand Continent Hotels
Incorporated in 2011, Grand Continent Hotels Limited operates hotels across multiple cities in India, focusing on the mid-market segment. The company currently manages 16 properties with 753 hotel keys as of September 30, 2024. Its services cater to both business and leisure travellers, with a range of accommodations and amenities. The company operates in key cities such as Bengaluru, Mysuru, Hosur, Goa, Tirupati, and Secunderabad, offering facilities like on-site dining, conference rooms, and transportation services.
Financials of Grand Continent Hotels
*All figures are in ₹ Crores.
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹74.46 crores |
| Fresh Issue | ₹70.74 crores |
| Offer for sale | ₹3.72 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Repayment of borrowings | 34.08 (48.2%) |
| Expansion of hotel properties | 16.79 (23.7%) |
| General corporate purposes | 19.87 (28.1%) |
Strengths
- Premium mid-priced hospitality offering quality service at competitive rates.
- Strategically located properties catering to business and leisure travellers.
- Proven asset management enhancing operational performance and occupancy rates.
- Experienced management team with strong industry expertise.
- Growth in tourism and business travel due to increasing demand.
- Government initiatives supporting tourism development and growth.
Risks
- Dependence on long-term lease and license agreements; non-compliance or failure to renew may adversely affect operations.
- Risk of termination or non-renewal of franchise agreements with Sarovar/Royal Orchid brands, impacting brand usage and reservations.
- Subject to extensive government regulations; non-compliance or delays in approvals could disrupt operations.
- Negative customer experiences or publicity could harm reputation and customer acquisition.
- Previous losses could continue to affect results, cash flows, and financial conditions.
- Intense competition in the mid-scale hotel market, with larger competitors potentially affecting occupancy and revenue.
- Dependence on retaining qualified personnel; competition for talent may impact operations.
Allotment Status for Grand Continent Hotels
To check your allotment status – click here.
Subscription Figures for Grand Continent Hotels
Subscription numbers as of 5:00 PM on 24 Mar 2025:
| Category | Reserved (lakhs) | Applied (lakhs) | Subscription (X times) |
|---|---|---|---|
| Institutional | 12.49 | 36.66 | 2.93x |
| HNI (₹2L+) | 9.37 | 13 | 1.39x |
| Retail (upto ₹2L) | 21.87 | 28.88 | 1.32x |
| Total | 43.86 | 78.67 | 1.79x |