Grand Continent Hotels Ltd. makes a weak debut on the bourses with scrip got listed at Rs 112.90 on the Bombay Stock Exchange, a 0.08 per cent discount to its issue price of Rs 113.00. On the National Stock Exchange, the stock was listed at Rs 112.90.
The company, which raised 0.66 Cr from initial public offering, was subscribed 1.71 times, receiving bids for 112.68 lakhs shares against the total issue size of 65.89 lakhs shares.
The company, listed under ST Group Securities post its IPO, opened for subscription from Mar 20 to Mar 24.
Following a weak opening, the scrip touched an intraday high of Rs 112.90 and a low of Rs 107.25, before closing the session up by 5.08 per cent to its listing price at Rs 107.25 on the NSE.
The company anticipates using the proceeds of the issue for .
Indorient Financial Services Ltd. as lead managers & MUFG Intime India Pvt. Ltd. is the registrar, to the issue.
Meanwhile, the broader benchmark NSE Nifty closed trade at 23,591.95, up 105.10 points, or 0.44 per cent.