Grand Continent Hotels Limited — Others, 30-05-2025: Statement of deviation(s) or variation(s) under Reg. 32

Grand Continent Hotels has announced a board meeting on the financial results for the quarter and half-year. The company confirms no deviation in the use of IPO proceeds of Rs. 70.74 Cr raised through its SME IPO. Rs. 7.53 Cr has been used for debt repayment, while the remaining funds earmarked for growth capital and corporate purposes are yet to be deployed. The Audit Committee’s review found no issues with fund utilization, indicating disciplined capital management that supports the company’s growth and financial stability.