Grand Continent Hotels came to market through an SME IPO that opened on 20 March 2025 and closed on 24 March 2025, and the shares listed on 27 March 2025 on NSE SME. The price band was ₹107 to ₹113 per share and one lot was 1200 shares, so the minimum application was ₹1,35,600. The issue size was ₹74.46 crore. It combined a fresh issue of new shares with an offer for sale by existing shareholders.
Link Intime India Private Ltd was the registrar to the issue, and Indorient Financial Services Ltd was the lead manager.
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Established in 2011, Grand Continent Hotels Limited is an Indian hotel chain. Grand Continent Hotels serves the mid-market segment, and it has 19 hotels across six key cities of India with more than 900 rooms. The hotels are well-placed in the core business districts, aimed at serving the varied demands of business travelers and tourists alike. Grand Continent Hotels raises the level of customer experience through simple service interactions, easy-to-use infrastructure, and a focus on value for money delivery.
They put emphasis on sustained service levels, availability, and continuously benchmark and refresh services to match changing guest needs. As of September 30, 2024, the Company and JV Partner Entities own and operate 16 hotels with 753 keys in Karnataka (Bengaluru/Mysuru), Tamil Nadu (Hosur), Goa (Anjuna/Morjim), Andhra Pradesh (Tirupati), and Telangana (Secunderabad). The firm accommodates Indian middle-class visitors and corporate visitors with value-for-money propositions and differentiated comfortable services.
At the close of September 30 2024, the firm had employees totaling 538 across the firm's different departments.
As described in the offer document.
| Metric | 30-Sep-24 | 31-Mar-24 | 31-Mar-23 | 31-Mar-22 |
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Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Grand Continent Hotels IPO was a ₹74.46 crore book-built issue, comprising a fresh issue of ₹70.74 crore and an offer for sale of ₹3.72 crore. It was priced at ₹107–₹113 per share with a lot size of 1,200 shares (₹1,35,600). The IPO was open from March 20 to March 24, 2025. Shares listed on NSE SME on March 27, 2025 at ₹112.90, in line with the issue price of ₹113. Link Intime India Private Ltd is the registrar.
Indorient Financial Services Ltd is the book running lead manager.
The price band of Grand Continent Hotels IPO is ₹107 to ₹113 per share.
The lot size of Grand Continent Hotels IPO is 1200 shares.
The minimum investment for Grand Continent Hotels IPO is approximately ₹1,35,600 based on the upper price band.
The allotment date of Grand Continent Hotels IPO is Mar 25, 2025.
You can check Grand Continent Hotels IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Grand Continent Hotels IPO allotment status on Rupix for quick and easy access.
₹107 to ₹113 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 1200 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,35,600. After listing, SME shares also trade in lots rather than one share at a time.
₹1,35,600, for one lot of 1200 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 20 March 2025 and closed on 24 March 2025.
The basis of allotment was published on 25 March 2025 by Link Intime India Private Ltd, and allotted shares were credited to demat accounts before listing.
The shares listed on 27 March 2025 on NSE SME.
The issue size was ₹74.46 crore. The fresh issue was 62,60,400 shares (aggregating up to ₹70.74 crore). The offer for sale was 3,28,800 shares (aggregating up to ₹3.72 crore).