Grand Continent Hotels Limited — Others, 14-05-2025: Monitoring Agency Report

Grand Continent Hotels Limited has announced a monitoring agency report by Acuité Ratings on the use of its IPO proceeds. The company raised INR 74.46 Cr, with net proceeds of INR 61.24 Cr. So far, INR 7.77 Cr has been spent—mostly INR 7.53 Cr on debt repayment and INR 0.24 Cr on corporate purposes—leaving INR 53.47 Cr parked in bank accounts. There have been no changes from the intended IPO plans, and no negative impact on the fund utilization. This shows disciplined financial management, preserving value for shareholders.