Grill Splendour Services IPO will open for subscription from 15 April 2024. The company aims for an issue size of ₹16.47 Cr through this IPO.
Company Overview
| Full name | Grill Splendour Services Limited |
| Sector | Retailing |
| Industry | Retailing |
| Company Website | https://www.birdys.in/ |
About Company
Grill Splendour Services was established in November 2019 as a hospitality company to acquire the bakery and confectionery business, including the Birdy’s Bakery and Patisserie brand, from WAH Restaurants Private Limited. With a presence across Mumbai, it operates 17 retail stores, a centralized production facility, and serves numerous corporate clients. Among these 17 retail outlets, 5 operate under the franchisee model (owned by franchisees but operated by the company), while the remaining 12 stores are owned directly by the company.
As of 29 February 2024, the company employs a total of 77 full-time employees. The company is involved in the sale of the following broad categories of products:
- Cakes & Pastries
- Food Sale
- Beverages
- Desert Sales
The Objectives of the Issue
- 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 IPO Timetable
| IPO Opening date | 15 April 2024 |
| IPO Closing | 18 April 2024 |
| Basis of Allotment | 19 April 2024 |
| Initiation Refund | 22 April 2024 |
| Credit to Demat Account | 22 April 2024 |
| Listing Date | 23 April 2024 |
Grill Splendour Services IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹16.47 Cr – 1,372,800 shares |
| Fresh Issue | ₹16.47 Cr – 1,372,800 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Offer Price | ₹120 per share |
| Lot size | 1200 Shares |
| Market Maker portion | 69,600 shares |
| Shareholding pre-issue | 3,835,400 |
| Shareholding post-issue | 5,208,200 |
| Listing Exchange | NSE SME |
Grill Splendour Services IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹144,000 |
| Retail (Max) | 1 | 1200 | ₹144,000 |
| HNI (Min) | 2 | 2,400 | ₹288,000 |
Grill Splendour Services IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 69,600 (5.07%) |
| Other Shares Offered | 651,600 (47.47%) |
| Retail Shares Offered | 651,600 (47.47%) |
| Total Shares Offered | 1,372,800 (100%) |
Grill Splendour Services Financial Performance
| FY 2021 | FY 2022 | FY 2023 | 8M FY 2024 | |
| Revenue | 8.25 | 11.50 | 15.29 | 8.84 |
| Expenses | 8.13 | 11.26 | 12.41 | 7.75 |
| Net income | (0.04) | 0.03 | 1.99 | 0.62 |
Grill Splendour Services Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | (0.24) | 0.23 | 13.19 |
| PE ratio | – | – | 9.10 |
| RONW (%) | NA | 204.73 | 99.16 |
| NAV | – | – | 13.30 |
| EBITDA (%) | 1.54 | 2.29 | 18.97 |
Company Promoters
- Srinidhi V Rao
- Vandana Srinidhi Rao
- Vivek Vijaykumar Sood
Promoter Holding
| Pre Issue Share Holding | 49.75% |
| Post Issue Share Holding | 36.64% |
Grill Splendour Services IPO Lead Manager(s)
INVENTURE MERCHANT BANKER SERVICES PRIVATE LIMITED
2nd Floor, Viraj Tower, Nr. Andheri Flyover (North End),
Western Express Highway, Andheri (East) Mumbai – 400 069
Phone:+91 22 4075 1500
Email: compliance@inventuremerchantbanker.com
Website: www.inventuremerchantbanker.com
Grill Splendour Services Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Grill Splendour Services Contact Details
GRILL SPLENDOUR SERVICES LIMITED
J1, Shram Siddhi Vinayak Premises Co-Op Soc Ltd C-105,
1st Floor, Plot – 8, Wadala Truck Terminal Road,
Antop Hill, Mumbai – 400 037, Maharashtra
Phone: +91 22 5002 9517
E-mail: ipo@birdys.in
Website: www.birdys.in
Grill Splendour Services IPO Allotment Status
Grill Splendour Services IPO allotment status will be available on Bigshare Services’ website. Click on this link to get allotment status.
Final thoughts
Grill Splendour Services IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
