Grill Splendour Services Limited IPO Detail
Established in November 2019, Grill Splendour Services Limited is a chain of gourmet bakeries and patisseries in Mumbai with 17 retail outlets, a central manufacturing facility, and several corporate clients operating under the brand name Birdy's.
Grill Splendour Services Private Ltd. acquired Birdy's Bakery and Patisserie from WAH Restaurants Private Limited in November 2019 to expand its reach in the hospitality industry.
The company's product portfolio can be divided into the following areas
- Cakes and pastries
- Sale of food products
- Beverages
- Sale of desserts
The company has 17 retail stores, 5 of which are operated under a franchise model (franchisee-owned, and company-operated), while the remaining 12 stores are owned by the company.
As of February 29, 2024, the company employed 77 people in various departments.
Company Promoters
Srinidhi V Rao, Vandana Srinidhi Rao and Vivek Vijaykumar SoodIPO Details
| IPO Opening Date | Apr 15, 2024 |
| IPO Closing Date | Apr 18, 2024 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹120 per equity share |
| Market Lot | 1200 Shares |
| Min Order Quantity | 1200 Shares |
| Listing At | NSE SME |
| Issue Size | ₹16.47 Cr |
| Fresh Issue | ₹16.47 Cr |
| Offer for Sale | - |
| Retail Portion | 47.47% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.00x | 0.00x | 0.00x | 0.38x | 3.94x | 2.16x |
| Day 2 | 0.00x | 0.00x | 0.00x | 1.30x | 6.69x | 4.00x |
| Day 3 | 0.00x | 0.00x | 0.00x | 4.59x | 12.78x | 8.68x |
IPO Tentative Timetable
The Grill Splendour Services Limited IPO open date is Apr 15, 2024, and the close date is Apr 18, 2024. The issue may list on Apr 23, 2024.
| IPO Open Date | Apr 15, 2024 |
| IPO Close Date | Apr 18, 2024 |
| Basis of Allotment Date | Apr 19, 2024 |
| Initiation of Refunds | Apr 22, 2024 |
| Credit of Shares to Demat Account | Apr 22, 2024 |
| IPO Listing Date | Apr 23, 2024 |
IPO Lot Size
The Grill Splendour Services Limited IPO market lot size is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹144000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1200 | ₹144000 |
| Maximum | 1 | 1200 | ₹144000 |
IPO Promoter Holding
| Pre Issue Share Holding | 49.75% |
| Post Issue Share Holding | 36.64% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 265.98 | 825.22 | -3.63 |
| 31-Mar-22 | 290.59 | 1152.27 | 3.46 |
| 31-Mar-23 | 764.02 | 1531.62 | 199.10 |
| 30-Nov-23 | 2211.54 | 885.64 | 61.65 |
Objects of the Issue:
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
- Funding additional Working capital requirements;
- Pre-payment/Repayment, in full or part, of certain outstanding borrowings availed by the Company; and
- General Corporate Purposes
Grill Splendour Services Limited IPO Registrar:
Bigshare Services Pvt Ltd
Grill Splendour Services Limited IPO Lead Manager(s):
Inventure Merchant Banker Services Pvt Ltd
Company Contact Information:
Grill Splendour Services Limited
J1, Shram Siddhi Vinayak Premises Co-Op Soc Ltd C1
1st Floor, Plot - 8, Wadala Truck Terminal Road,
Antop Hill, Mumbai - 400 037
