Grand Continent Hotels Ltd - IPO

Grand Continent Hotels Ltd IPO Details

Initial public offering of upto 65,89,200 equity shares of face value of Rs. 10/- each (the Equity Shares) of Grand Continent Hotels Limited (The Company or GCHL or The Issuer) at a price of Rs. 113 per equity share (including a premium of Rs. 103 per equity share) (Offer Price) for cash, aggregating up to Rs. 74.46 crores (Offer) comprising of a fresh issue of up to 62,60,400 equity shares of face value of Rs. 10/- each aggregating up to Rs. 70.74 crores (the Fresh Issue) and an offer for sale of up to 3,28,800 equity shares of face value of Rs. 10/- each aggregating up to Rs. 3.72 crores by Ramesh Siva (the Promoter Selling Shareholder).TThe offer includes a reservation of 3,30,000 equity shares of face value of Rs. 10/- each, at an offer price of Rs. 113 per equity share for cash, aggregating to Rs. 3.73 crores (constituting up to 5.01% of the post offer paid-up equity share capital of the company) for subscription by the market maker to the offer (the Market Maker Reservation Portion) and a reservation of up to 12,000 equity shares, aggregating up to Rs. 0.14 crores (constituting up to 0.18% of the post offer paid-up equity share capital of the company), for subscription by eligible employees (the Employee Reservation Portion). The offer less market maker reservation portion and employee reservation portion i.e. offer of 62,47,200 equity shares of face value of Rs. 10/- each, at an offer price of Rs. 113 per equity share for cash, aggregating upto Rs. 70.59 crores is herein after referred to as the Net Offer. The offer and net offer will constitute 26.44% and 25.07% respectively of the post-offer paid-up equity share capital of the company.Price Band is Rs. 113 per equity share of face value of Rs. 10 each.The cap price is 11.3 times of the face value.Bids can be made for the minimum of 1200 equity shares and in multiples of 1200 equity shares thereafter.

Objective of issue

Repayment and/or prepayment in full or in part of certain outstanding borrowings availed by the company. Expansion of its Hotel Properties in India. General corporate purposes.

Grand Continent Hotels Ltd Contact Details

Grand Continent Hotels Ltd, C-101 247 Park, L B S Marg, Vikhroli West, Mumbai-400083

Phone - 91-22-49186000

Fax - 91-22-49186060

Email - cs@grandcontinenthotels.com

Website - https:, grandcontinenthotels.com