Grand Continent Motels IPO Itemizing: Decrease Circuit after flat itemizing, ₹ 113 shares gave sturdy shock – INA NEWS

Grand Continent Motels IPO Itemizing: In lots of necessary cities of many states of the nation together with Goa, Karnataka, the shares of Grand Continent Motels, which run lodge chains, bought light on NSE SME immediately. Its IPO acquired an general 1.79 occasions bid. Beneath the IPO, shares have been issued at a worth of Rs 113. As we speak, it has entered the NSE SEM at Rs 112.90, that’s, IPO buyers didn’t get any itemizing beneficial properties however some capital was lowered. After the itemizing, extra shock was felt when the shares got here down additional. It broke to the decrease circuit of Rs 107.25 (Grand Continent Motels Share Worth) i.e. IPO buyers at the moment are 5.09% loss.

Grand Continent Motels How will the cash of IPO be spent

The ₹ 74.46 crore IPO of Grand Continent Motels was opened until 20-24 March. This IPO general subscribed 1.79 occasions. It included 2.93 occasions reserved for certified institutional consumers (QIB), 1.39 occasions the share of non-institutional buyers (NII) and 1.32 occasions the share of retail buyers. Beneath this IPO, new shares value Rs 70.74 crore have been issued. Other than this, 3,28,800 share gives with a face worth of Rs 10 are offered beneath the supply on the market window. The supply on the market cash has been acquired by shareholders promoting share. On the identical time, out of the cash raised by way of new shares, Rs 34.08 crore will probably be spent on compensation of mortgage, Rs 16.8 crore on lodge property and different frequent company targets.

About Grand Continent Motels

The Grand Continent Motels, inbuilt 2011, has 19 properties in 6 main cities of the nation with greater than 900 rooms. In line with information as much as September 2024, the corporate and the three way partnership companion entities are working 753 rooms in Bangalore and Mysore, Tamil Nadu in Tamil Nadu, Anjuna and Morjim in Goa, Tirupati in Andhra Pradesh and 16 lodges in 16 lodges in Hyderabad in Telangana. Speaking in regards to the monetary well being of the corporate, it has been strongly strengthened.

It had a web lack of Rs 79 lakh in FY 2022, however within the very subsequent monetary yr 2023 it got here into web revenue of Rs 1.05 crore which elevated to Rs 4.12 crore in FY 2024. Throughout this era, the corporate’s income elevated to Rs 31.53 crore from a compound price (CAGR) of greater than 128 per cent yearly. Speaking in regards to the present monetary yr 2024-25, within the first half April-September 2024 it has acquired a web revenue of Rs 6.81 crore and a income of Rs 31.86 crore.

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