Grand Continent Hotels Ltd. has announced public offering of 6589200 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 103.00 per share. The gross proceeds of the issue are expected to be Rs 7,445.80 lakhs.
The company's initial public offer (IPO) will open on 20 March 2025 and is expected to close on 24 March 2025, subject to customary closing conditions. The price band of the issue has been fixed at Rs 107.00-113.00 per share.
The IPO includes a fresh Issue of 6589200 Equity Shares of the Company at an price of Rs 113.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 1200 shares with bids in multiples of 1200.
Grand Continent Hotels Ltd. anticipates using the proceeds of the issue for .
Indorient Financial Services Ltd. as lead manager & MUFG Intime India Pvt. Ltd. is the registrar, to the issue.