Grand Continent Hotels IPO opens for subscription. GMP, price band among key things to know

Grand Continent Hotels is set to launch its initial public offering (IPO) on March 20, with the subscription window open until March 24. The IPO consists of a fresh equity issue of 62.4 lakh shares and an offer for sale (OFS) of 3.28 lakh shares, aiming to raise Rs 74 crore.

The company plans to utilize the IPO proceeds to repay existing debt, expand its hotel portfolio in India, and meet general corporate expenses. The expansion strategy includes increasing room capacity, upgrading existing…