LGT Business Connextions Ltd

Summary of deviation and fund utilisation

• Purpose: Confirmation of no deviation in IPO proceeds use.
• Mode of fund raising: IPO – Public Issue.
• Date and amount raised: Aug 22, 2025; Rs 21.92 crore (net).
• Monitoring agency: Infomerics Ratings Limited.
• Deviation status: No deviation or variation reported.
• Original object: Capital expenditure; Funds utilised: Rs 2.66 crore; Allocation: Rs 10.44 crore; No deviation.
• Annexure A: Working capital — utilised Rs 7.69 crore of Rs 7.70 crore; No deviation.
• Annexure A: General corporate purpose — utilised Rs 3.78 crore of Rs 3.78 crore; No deviation.
• Overall utilisation: Partly utilised; remaining unutilised funds across objects.
• Audit Committee comments: No comments; Auditors: No comments.

Issue Overview

• Type: Fresh public issue of equity shares (IPO).
• Total issue size and net proceeds disclosed; no undersubscription.
• Main objectives: capex, working capital, general corporate purposes.
• Board review; funds to be utilised within 12 months; shareholders' approval at AGM.

Utilisation of Proceeds

• Utilisation as per offer document; no material deviations.
• Nil deviations; means of finance unchanged.
• Capex: partial utilisation; substantial unutilised funds; completion delayed.
• Working capital: fully utilised; minimal unutilised balance.
• GCP: fully utilised; no unutilised balance.
• Unutilised proceeds currently parked in fixed deposits.
• Shareholders' approval pending for fund use; board resolution in place.
• Note: Capex timeline ambiguity due to 12-month plan.

Governance & Compliance

• Approvals obtained: statutory approvals; principal approval from BSE.
• Shareholder approval pending for certain objects.
• Material events: none affecting viability reported.
• Board reviewed utilisation; to be placed before shareholders at AGM.
• No adverse information disclosed.
• Means of finance unchanged.

General Corporate Purpose (GCP)

• Used: 0.10 crore for meeting exigencies.
• Total GCP allocation: 3.79 crore; flexible use within 15% cap.
• Board approval for GCP allocation not explicitly stated.
• GCP utilization remains within SEBI ICDR cap.

Expansion details

• Adds 19 Luxe Living accommodation units across two Chennai properties.
• Thillai Residency contributes 18 units at Korattur; Vinayaga Flats adds 1 unit at Choolaimedu.
• Properties located in well-connected neighbourhoods with access to business districts and transport.
• Expansion strengthens serviced accommodations for business travellers, corporate guests, and long-stay visitors.
• Dated July 20, 2026; expansion to increase inventory in high-growth markets.

Dematerialisation status

• No physical share certificates were received for dematerialisation during the quarter.

FY26 results

• Company reported FY26 audited results and strong business momentum across travel and hospitality segments.
• Revenue from operations rose to ₹13,699.20 lakh from ₹10,042.91 lakh, up 34.9% YoY.
• EBITDA was ₹839.84 lakh, versus ₹844.76 lakh last year.
• Profit after tax was ₹463.28 lakh, versus ₹521.59 lakh last year.
• PAT margin declined to 3.4% from 5.2%; EPS fell to ₹5.48 from ₹7.44.

Business developments

• Growth was driven by corporate travel, MICE, hospitality, inbound and outbound travel, and customized experiences.
• Strategic collaborations and acquisitions included Yaja, Travflix, and Holiday One.
• Company expanded services across domestic leisure, international holidays, corporate mobility, hospitality bookings, exhibitions, and trade fairs.

Expansion

• Operational presence expanded in Nagercoil, Coimbatore, Pune, and Vijayawada.
• Ahmedabad was identified as the next strategic expansion destination.
• International expansion focus includes Dubai and Malaysia.
• Company is increasing focus on religious and spiritual tourism.

Outlook

• Management expects growth from collaborations, acquisitions, market expansion, and enhanced service offerings.
• Company aims to strengthen execution capabilities, customer experience, and scalable long-term growth.

Financial results

• Approved draft standalone and consolidated financial results for half year and year ended 31 March 2026.

Dividend

• Declared dividend of Rs. 0.25 per equity share, subject to shareholder approval.

Meeting Details

• Board meeting on 29 May 2026 at 3:00 P.M.
• Location: Registered Office of LGT Global Hospitality Limited, Chennai.

Key Agenda Items

• Consideration and approval of draft audited standalone financial results for half year and year ended 31 March 2026.
• Consideration and approval of draft audited consolidated financial results for half year and year ended 31 March 2026.

Other Notes

• No additional material governance or financial items were disclosed.

Company Name Change

• Company name changed from LGT Business Connextions Limited to LGT Global Hospitality Limited
• Name change effective upon fresh ROC Certificate of Incorporation
• Change reflects strategic focus on hospitality and global expansion

Director Regularizations

• Mr. Dhawal Padmakar Bhute regularized as Non-Executive Director effective 2 March 2026
• Mr. Dhawal Bhute has 25+ years in travel and MICE industry, co-founded Tibro Tours Pvt Ltd
• Mr. Chintan Virendra Chheda regularized as Non-Executive Director effective 2 March 2026
• Mr. Chheda is an entrepreneur with expertise in international trade fairs and corporate travel
• Neither Mr. Bhute nor Mr. Chheda is related to other directors or debarred by SEBI

Independent Director Appointment

• Mrs. Namrata Kalanouria appointed Independent Director for five-year term from 10 March 2026
• Mrs. Kalanouria holds B.Com and Company Secretary qualification with 10+ years compliance experience
• She is not related to other directors and not debarred by SEBI