GRAND CONTINENT HOTELS LIMITED

Our Company was originally incorporated as a private limited company under the Companies Act, 1956 in the name and style of "Grand Continent Hotels Private Limited" pursuant to certificate of incorporation dated November 11, 2011 issued by the RoC, Chennai, Tamil Nadu bearing Corporate Identity Number U55101TN2011PTC083100. Subsequently, our Company was converted into public limited company pursuant to special resolution passed in the EGM held on May 27, 2024, and consequently, the name of our Company was changed to "Grand Continent Hotels Limited" and a fresh certificate of incorporation dated August 30, 2024 consequent upon conversion from private company to public company was issued by RoC, Central Processing Centre bearing CIN U55101TN2011PLC083100. For further details please refer to section titled "History and Certain Other Corporate Matters" beginning on page 194 of this Prospectus.

1. A majority of our properties are operating under Sarovar Brands .'Royal Orchid Brands pursuant to the franchise/ trademark license agreements with the Sarovar/Royal Orchid, and we are subject to risks, including non-renewal, termination and disputes, associated with such contracts.

2. As on September 30, 2024, a significant portion of our hotel keys and revenue from operations is derived from hotels properties concentrated in the city of Bengalis (Karnataka) and Tirupati (Andhra Pradesh) out of the portfolio of 16 operational hotel properties, and any adverse developments affecting these hotels or the regions in which they operate, could have an adverse effect on our business, results of operation cash flows and financial condition.

3. We are subject to extensive government regulation with respect to safety, health, environment, real estate, food, excise, property tax and labor laws Any non-compliance with or changes in regulations applicable to us or failure to obtain, maintain or renew our statutory and regulatory licenses permits and approvals required to operate our business may adversely affect our business, results of operations cash flows and financial condition

4. Negative customer experiences or negative publicity surrounding our hotel properties could have an impact on ability to source customers. Thus, we may also incur higher expenses towards business promotion in the future, to source more customers which may have an adverse impact on our business and financial condition.

5. The Merchant Banker associated with the Offer has handled 9 public issue out of which 1 issue dosed below the Offer Price on listing date

6. Average cost of acquisition of Equity Shares held by the Promoters (including the Promoter Selling Shareholder) is as below:

7. Weighted Average Return on Net worth for Fiscals 2024, 2023 and 2022 is (42.00)% and for the period ended September 30, 2024 (Not Annualized) is 17.74%.

8. The Price / Earnings Ratio based on Diluted EPS for Fiscal 2024 for the Company at the upper end of the Price Band is 44.49 times.

9. The Weighted average cost of acquisition of all Equity Shares transacted in the last one year, 18 months and three years preceding the date of Prospectus is as given below:

Pursuant to the certificate dated March 25, 2025, issued by M/s. Bhuta Shah & Co, LLP, Chartered Accountants

$ Amounts are Post Bonus Issue impact

10. The Weighted average cost of acquisition (WACA) compared to floor price and cap price

*As adjusted for changes in capital

^ There were no secondary transactions in the last 18 months preceding the date of the Prospectus.

The Offer was made through the Book Building Process, in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR") read with Regulation 253 of the SEBI ICDR Regulations, as amended, wherein not more than 50% of the Net Offer was available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs", the "QIB Potion"), provided that our Company, in consultation with the Book Running Lead Manager, allocated 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations ("Anchor Investor Portion"), of which one-third was reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription, or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further, 5% of the Net QIB Portion was made available for allocation on a proportionate basis only to Mutual Funds, and the remainder of the Net QIB Portion was available for allocation on a proportionate basis to an QIB, including Mutual Funds, subject to valid Bids being received at or above the Offer Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Funds Portion shall be added to the remaining Net QIB Portion for proportionate allocation to QlBs. Further, not less than 15% of the Net Offer was available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Offer was available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. Further, Equity Shares were allocated on a proportionate basis to Eligible Employees applying under the Employee Reservation Portion, subject to valid Bids received from them at or above the Offer Price. All potential Bidders (except Anchor investors) were required to mandatory utilize the Application Supported by Blocked Amount ("ASBA") process providing details of their respective ASBA accounts, and UPI ID in case of RIBs using the UPI Mechanism, if applicable, in which the corresponding Bids Amounts was blocked by the SCSBs or by the Sponsor Bank under the UPI Mechanism, as the case may be, to the extent of respective Bid Amounts Anchor investors were not permitted to participate in the Offer through the ASBA process. For details, see section titled "Offer Procedure" beginning on page 345 of the Prospectus.

The bidding for Anchor Investors opened and closed on March 19, 2025. The Company received 7 Anchor Investors Application Form from 7 Anchor Investors for 21,27,600 Equity Shares against 18,73,200 Equity Shares reserved for Anchor Investor Portion. The Anchor Investor Allocation Price was finalized at Rs. 113 per Equity Share. A total of 18,73,200 Equity Shares were allotted under the Anchor Investor Portion aggregating to Rs. 21,16,71,600/-

The offer was subscribed to the extent of 1.71 times (excluding the Anchor Investor Portion) as per the bid books of NSE (the "Bid Files") after removing multiple and duplicate bids & Bid not bank cases The details of the applications received from various categories (after rejections) are as under:

A summary of final demand (prior to any rejections) as per NSE EMERGE as on the Bid/Offer Closing Date at different prices is as under:

The Basis of Allotment was finalized in consultation with the Designated Stock Exchange, beng NSE EMERGE on March 25.2025.

The Basis of Allotment to the Retail Individual Investors, who have Bid at Cut-Off Price or at or above the Offer Price of Rs. 113/- per Equity Share, was finalized in consultation with NSE EMERGE. The category was subscribed by 1.27 times i.e., for 27,76,800 Equity Shares. The total number of Equity Shares allotted in this category is 21,87,600 Equity Shares to 1,823 successful applicants. The category wise details of the Basis of Allotment are as under:

The Basis of Allotment to Non-Institutional Investors, who have bid at Cut Off or at the Offer Price of Rs.113/-per Equity Share, was finalised in consultation with NSE EMERGE. The category was subscribed by 1.37 times i.e., for 12,85,200 Equity Shares. The total number of shares allotted in this category is 9,37,200 Equity Shares to 221 successful applicants. The category wise details of the Basis of Allotment are as under:

The Basis of Allotment to Eligible Employee, at the Offer Price of Rs.113/- per Equity Share, was finalised in consultation with NSE EMERGE. The category was subscribed by 1 time i.e., for 12.000 Equity Shares. The total number of shares allotted in this category is 12,000 Equity Shares to 4 successful applicants. The category wise details of the Basis of Allotment are as under:

The Basis of Allotment to Qualified Institutional Buyers (excluding Anchor Investors), at the Offer Price of Rs.113/-per Equity Share, was finalised in consultation with NSE EMERGE. The category was subscribed by 2.93 tunes i.e., for 36,66,000 Equity Shares. The total number of shares allotted in this category is 12,49,200 Equity Shares to 10 successful applicants. The category wise details of the Basis of Allotment are as under:

The Company in consultation with the BRIM has allotted 18.73.200 Equity Shares to 7 Anchor investors at Anchor Investor Issue at Offer Price of Rs.113/- per Equity Share in accordance with the SEBIICDR Regulations. The category wise details of the Basis of Allotment are as under:

The Basis of Allotment to the Market Maker, at the Offer Price Rs.113/- per Equity Share, was finalised in consultation with NSE EMERGE. The category was subscribed 1.00 time i.e., for 3,30,000 Equity Shares. The total number of shares allotted in this category is 3,30,000 Equity Shares to 1 successful applicant.

The Board of Directors of our Company at its meeting held on Tuesday March 25, 2025 has taken on record the basis of allotment of Equity Shares approved by the Designated Stock Exchange, being National Stock Exchange of India Limited (EMERGE Platform) ("NSE EMERGE") and has authorized the corporate action for issue and allotted the Equity Shares to various successful applicants. The Allotment Advice cum refund intimation will be dispatched to the address of the investors as registered with the depositories. Further, instructions to the SCSBs have been dispatched mailed for unlocking of funds and transfer to the Pubic Offer Account on or about Tuesday, March 25, 2025. In case the same is not received within ten days, investors may contact the Registrar to the Offer at the address given below The Equity Shares associated to successful applicants are being credited to their beneficiary accounts subject to validation of the account delays with the depositories concerned. The Company is in process of obtaining the listing and trading approval from NSE EMERGE and the trading of the Equity Shares is expected to commence on or about Thursday, March 27, 2025.

Note: All capitalized terms used and not defined herein shall have the respective meanings assigned to them in the Prospectus dated March 25, 2025 filed with the Registrar of Companies, Chennai ("RoC").

All future correspondence in this regard may Kindly be addressed to fie Registrar to the Offer quoting full name of the first/sole Bidder serial number of the ASBA form, number of Equity Shares bid for, Bidder DP ID, Client ID,PAN, date of submission of the Bid cum Application Form, address of the Bidder, the name and address of the Designated Intermediary where he Bid cum Application Form was submitted by the Bidder and copy of the Acknowledgment Slip received from the Designated Intermediary and payment details at the address given below.

MUFG INTIME INDIA PRIVATE UMITED (Formerly Link Intime India Private Limited)

C-101,1st Floor, 247 Park, Lal Bahadur Shastri Marg Vikhroli (West), Mumbai - 400083, Maharashtra, India.

| Tel No.: *91 8108114949 | Fax No.: +91 - 2249186060 E-mail: grandcontinent.ipo@linkintime.co.in |

Investor Grievance Email: grandcontinent.ipo@linkintime.co.in | Website: https://in.mpms.mufg.com

CIN: U67190MH1999PTC118368 | SEBI Registration No: INR000004058 | Contact Person: Ms. Shanti Gopalkrishnan

Disclaimer: Grand Comment Hotels Limited has tiled the Prospectus with the RoC on March 25, 2025 The Prospectus is available on the website of NSE at www.nseindia.com and on the website of the BRLM, Indorient Financial Services Limited at www.indorient.in investors should note that investment m Equity Shares involves a high degree of risk and for details relating to the same, please see "Risk Factors" beginning on page 37 of the Prospectus.

The Equity Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or any state securities laws in the United States, and unless so registered, and may not be offered or sold with in the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in accordance with any applicable U.S. state securities laws. The Equity Shares are being offered and sold outside the United States in 'offshore transactions' in reliance on Regulation under the Securities Act and the applicable laws of each jurisdiction where such offers and sates are made. There will be no public offering in the United States.