Grand Continent Hotels Ltd Company Summary

Grand Continent Hotels Ltd Summary

Grand Continent Hotels Limited was originally incorporated as a Private Limited Company under the Companies Act, 1956 in the name and style of Grand Continent Hotels Private Limited dated November 11, 2011 issued by the RoC, Chennai, Tamil Nadu. Subsequently, Company was converted into Public Limited Company and name of the Company was changed to Grand Continent Hotels Limited and a fresh Certificate of Incorporation dated August 30, 2024 upon conversion to Public Company was issued by RoC, Central Processing Centre.At present, the Company is in the business of hospitality (Owning and Development of Hotels). It operates in mid-scale hotel sector, consisting of the upper-mid priced, mid-priced and economy hotel segments. The Company has 16 operational hotels and operates a total of 753 keys across states of Karnataka (Bengaluru), Tamil Nadu (Hosur), Goa (Anjuna), Andhra Pradesh (Tirupati) and Telengana (Secunderabad). The Promoter Mr. Ramesh Siva started the hospitality business by setting up its first hotel property in Bengaluru with 54 keys under the name and style Grand Continent on October 21, 2010 located at J P Nagar, 3rd Phase, Bengaluru in the legal name of M/s Elysium Holidays India Private Limited. The first hotel launched under M/s Grand Continent Hotels Limited commenced operations on Bannerghatta Road, Bengaluru, with 24 keys on April 04, 2016. Thereafter, the second hotel launched as Hotel Grand Continent started operations in Malleswaram with 34 keys in 2017. The Hotel Regenta Inn at Indiranagar with 40 keys under the brand Royal Orchid commenced its operations in 2019 followed by Hotel Regenta Inn Grand at 8th Block Koramangala with 40 Keys under the brand Royal Orchid in 2019. In 2022, Hotel Tulip Inn - Ejipura Koramangala with 54 Keys; Hotel Regenta Inn - ORR Mahadevapura with 49 Keys and Hotel Regenta Inn - 4th block Koramangala with 25 Keys were launched in 2022. In 2023, Hotel Golden Tulip at Tirupati with 88 Keys under the JV Partner Entity Grand Seven Hill Hotels, Hotel Grand Continent - Hosur with 45 Keys; and Hotel Grand Continent - Hebbal Manyata with 48 Keys became operational. Hotel Grand Continent - Secunderabad with 40 Keys was operative in 2024 followed by Hotel Grand Continent - Mysore with 40 Keys; Hotel Grand Continent - Brookfield with 108 Keys, Hotel Grand Continent - Devanhalli with 36 Keys and Hotel Grand Continent - Morjim with 38 Keys became functional in 2024. The Company has ventured into new location at Anjuna, Goa by establishing Hotel Grand Continent - Anjuna with 44 Keys in 2024. The Company is planning an IPO of 65,90,000 Equity Shares of Face Value of Rs 10 each consisting a Fresh Issue of 62,61,000 Equity Shares and 3,29,000 Equity Shares through Offer for Sale.