Investors alert: Grand continent hotels IPO launched, featuring key price band, GMP, subscription dates

Mumbai: Grand Continent Hotels' initial public offering (IPO) is open for subscription on March 20, 2025. The firm will mobilize Rs 74.4 crore through the public issue. This consists of a fresh issue of 62.4 lakh equity shares and an offer for sale (OFS) of 3.28 lakh shares by promoter Ramesh Siva

Price Band and Lot Size

Grand Continent Hotels has fixed the price band of Rs 107 to Rs 113 per share. The investor needs to bid for a minimum of 1,200 shares and in multiples thereafter. A retail investor will need a minimum of Rs 1,28,400 to bid for one lot. High net-worth individuals (HNIs) can bid for a minimum of two lots, which will be Rs 2,71,200.

Key Dates for IPO

The IPO will be open for subscription till March 24, 2025. Share allotment will be completed on March 25. Investors who receive shares will have them credited to their demat accounts on or before March 26. Refunds to unsuccessful applicants will also be made on the same date. The firm is likely to list on the NSE SME platform on March 27, 2025.

Grey Market Premium

Before the IPO debut, unlisted shares of Grand Continent Hotels were at Rs 113 per share in the grey market. This reflects strong demand for the company's stock..Grand Continent Hotels' IPO will open on March 20, 2025, at a price band of Rs 107-113. The firm hopes to raise Rs 74.4 crore. Listing is to take place on March 27, with money to be utilized for loan repayment and expansion.