Grand Continent Hotels Limited IPO is fully book build issue and total IPO size is ₹74.46 crores.The share offering is a fresh issue of ₹70.74 crore and offer for sale of ₹3.72 crore.
The subscription period for the Grand Continent Hotels Limited IPO starts on March 20, 2025, and ends on March 24, 2025. The allotment process is expected to be finalized by Mar 25, 2025.
The Grand Continent Hotels Limited IPO is scheduled to list on NSE SME, with a listing date of March 27, 2025. The price band for the Grand Continent Hotels Limited IPO is ₹107 to ₹113 per share .
Registrar for this IPO is Mufg Intime India Private Limited and lead managers for Grand Continent Hotels Limited IPO are Indorient Financial Services Limited.
IPO Schedule
| IPO Open Date | Thursday, 20 Mar, 2025 |
|---|---|
| IPO Close Date | Monday, 24 Mar, 2025 |
| IPO Allotment Date | Tuesday, 25 Mar, 2025 |
| Refund Initiation | Wednesday, 26 Mar, 2025 |
| Share credit in Demat | Wednesday, 26 Mar, 2025 |
| Listing Date | Thursday, 27 Mar, 2025 |
Key Details
| Price Band | ₹107 to ₹113 Per Share |
|---|---|
| Lot Size | 1200 Shares |
| Face Value | ₹10 Per Equity Share |
| Total Issue Size | ₹74.46 Crores |
| Fresh Issue | ₹70.74 Crores |
| OFS Issue | ₹3.72 Crores |
| Issue Type | Fresh Issue and an Offer for Sale |
| Listing At | NSE SME |
Share Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB | 50% |
| Retail | 35% |
| NII/HNI | 15% |
Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | 135,600 |
| Retail (Max) | 1 | 1200 | 135,600 |
| S-HNI (Min) | 2 | 2400 | 271,200 |
| S-HNI (Max) | 7 | 8400 | 949,200 |
About Grand Continent Hotels Limited Company
Grand Continent Hotels Private Limited, established in 2011, operates in the mid-scale hotel sector, catering to Indian middle-class guests and business travelers with a value-for-money proposition. As of September 30, 2024, the company, along with JV partners, operates 16 hotel properties with a total of 753 keys across Karnataka, Tamil Nadu, Goa, Andhra Pradesh and Telangana.
The company follows an asset-light model, primarily utilizing direct lease agreements and also owns two properties in Bengaluru. A significant presence in Bengaluru with 10 hotels and 458 keys provides a strong advantage.
Key operational data highlights an occupancy rate of 67.69% for the six months ended September 30, 2024 and Average Room Rate(ARR) for Mid Priced hotels stood at ₹3,512.61. Total income for the six months ended September 30, 2024, was ₹31.86 Lakh, with an EBITDA of ₹11.24 Lakh.
Looking ahead, Grand Continent Hotels plans to increase its key count to over 2000 by FY26 through planned expansion. The company intends to capitalize on its established market position and relationships with franchisee partners to improve operational efficiencies and margins. Mr. Ramesh Siva, the Promoter, Chairman, and Managing Director, brings over two decades of experience in the hospitality industry.
Grand Continent Hotels Limited Financial Details
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 9793.63 | 7391.43 | 4226.10 | 3436.58 |
| Revenue | 318.40 | 312.37 | 168.02 | 60.27 |
| Profit After Tax | 62.24 | 40.78 | 10.35 | -7.93 |
| Net Worth | 473.37 | 309.41 | 16.01 | -16.32 |
| Reserves and Surplus | 223.56 | 260.03 | -4.23 | -26.42 |
| Total Borrowing | 348.07 | 313.79 | 334.38 | 311.18 |
₹ In Crore
Key Performance Indicator
| Basic EPS (in ₹) | Return on Net Worth (RoNW) | Net Asset Value (NAV) | Debt-Equity Ratio | Return on Equity (ROE) | Return on Capital Employed (ROCE) |
|---|---|---|---|---|---|
| 2.54 | 26.67 | 75.17 | 1.13 | 25% | 17% |
Offer Objectives
The Offer comprises a Fresh Issue of up to 62,60,400 Equity Shares and an Offer for Sale of up to 3,28,800 Equity Shares by the Selling Shareholder. The company will not receive any proceeds from Offer for Sale.
Offer for Sale: The Promoter Selling Shareholder, Ramesh Siva, is offering up to 3,28,800 Equity Shares. The proceeds, net of expenses and taxes, will go to the selling shareholder. The consent letter date is November 11, 2024.
Fresh Issue: The company plans to utilize the Net Proceeds from the Fresh Issue towards:
- Repayment/prepayment of certain outstanding borrowings.
- Expansion of Hotel properties in India.
- General Corporate Purpose.
The company anticipates enhanced visibility and brand image through the listing of Equity Shares on NSE Emerge.
Net Proceeds: The estimated Net Proceeds from the Fresh Issue, after deducting Offer related expenses, are ₹[●] lakhs. The repayment is scheduled to ₹3,408.08 Lakhs in FY25. The expansion of hotel properties is scheduled to ₹717.08 Lakhs in FY25 and ₹962.16 Lakhs in FY26. The general corporate purpose is capped at 25% of the Gross Proceeds. As of February 28, 2025, the company had total outstanding borrowings of ₹4,547.03 Lakhs, of which ₹3,440.53 Lakhs is earmarked for repayment/prepayment from Net Proceeds. An aggregate amount of ₹3,408.08 Lakhs from the Net Proceeds will be utilized towards the same.
Company Details
Address:
S No. 245/1A/1B, Venpursham Village,
Veeralapakkam, Thiruporur, Chengalpattu,
Mamallapuram, Kanchipuram,
Tirukalikundram - 603110, Tamil Nadu, India.
Phone: 080 4165 6491
Email: [email protected]
Website: https://grandcontinenthotels.com/
IPO Registrar Details
MUFG Intime India Private Limited
Phone: +91 81081 14949
Email: [email protected]
Website: http://www.linkintime.co.in
