IPO

Grill Splendour Services Limited IPO

NSE SME

Listed On: Apr 23, 2024 at ₹ 121.3

₹ 288000 /2400 Shares
*Min Investment

Check Allotment

15 Apr, 2024

Open Date

18 Apr, 2024

Close Date

19 Apr, 2024

Allotment Date

23 Apr, 2024

Listing Date
Grill Splendour Services Limited IPO Issue Details
  • Issue Price ₹120 per equity share
  • Face Value ₹10 Per Equity Share
  • Total Issue Size 13,72,800 shares(aggregating up to ₹16.47 crore)
  • Fresh Share 13,72,800 shares(aggregating up to ₹16.47 crore)
  • Listing at NSE SME
  • List Price 121.3
  • Listing Date 2024-04-23
  • Lead Manager Inventure Merchant Banker Services Pvt Ltd
  • Registrar Bigshare Services Pvt Ltd
Market Lot Size

Investors can bid for a minimum of 1200 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Retail Investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (min) 1 1200 ₹1,44,000
Retail(max) 1 1200 ₹1,44,000
NII (min) 2 2400 ₹2,88,000
Grill Splendour Services Limited IPO Reservation

Grill Splendour Services Limited IPO offers total 1,372,800 shares. Out of which NA (NA%) allocated to QIB, NA (NA%) allocated to NII,651,600 (47.47%) allocated to RII, NA (NA%) allocated to employees and NA (NA%) allocated to Anchor investors.

Investor Category Shares Offered Maximum Allottees
Anchor Investor Shares Offered NA (NA%)
Market Maker Shares Offered 69,600 (5.07%)
Retail Shares Offered 651,600 (47.47%)
Total Shares Offered 1,372,800 (100%)
Grill Splendour Services Limited IPO Documents
DRHP
RHP
Grill Splendour Services Limited IPO Details


Grill Splendour Services Limited IPO is an SME IPO, priced at ₹120 per equity share. The equity shares have a face value of ₹10 Per Equity Share each and will be listed on the NSE SME platform. The IPO comprises a total issue of 13,72,800 equity shares, aggregating up to ₹16.47 crores..

The IPO bidding window is open from Apr 15, 2024 to Apr 18, 2024. The allotment is expected to be finalized on Apr 19, 2024, and the tentative listing date is Apr 23, 2024.

The minimum lot size for Retail investors is 1200 shares, with a minimum investment of ₹1,44,000. For HNIs, the minimum application size is 2 lots , amounting to ₹ 2,88,000.

Inventure Merchant Banker Services Pvt Ltd is acting as the lead manager to the issue. The registrar of the IPO is Bigshare Services Pvt Ltd, and Rikhav Securities Limited will act as the market maker for this issue.

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Grill Splendour Services Limited IPO Subscription Analysis And Details
Retail
12.78x
Total
8.74x
As on QIB / NII Retail Total
Shares Offered / Reserved 651,600 651,600 1,303,200
Day 1 15-04-24 06:00 PM
0.38 x 3.94 x 2.16 x
Day 2 16-04-24 06:00 PM
1.30 x 6.69 x 4.00 x
Day 3 18-04-24 06:00 PM
4.69 x 12.78 x 8.74 x
Total No of Applications
6,939
Grill Splendour Services Limited Valuations
EPS Pre IPO ₹5.19/-
EPS Post IPO ₹1.78/-
P/E Pre IPO 23.12
P/E Post IPO 67.58
Debt/Equity 1.50
RoNW 12.46%
PAT Margin 6.96
Price to Book Value 9.30
Grill Splendour Services Limited Company Financials
In Lakhs
In Lakh
31-Mar-23 31-Mar-22 31-Mar-21
Assets 764.02 290.59 265.98
Revenue 1,531.62 1,152.27 825.22
Profit After Tax 199.10 3.46 -3.63
About Grill Splendour Services Limited Company

It 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. Birdy's Bakery and Patisserie was acquired by Grill Splendour Services Private Ltd. from WAH Restaurants Private Limited in November 2019 to increase the scale of the company in the hospitality industry.

The company has the following products in its portfolio:
Cakes and pastries
Sale of food products
Beverages
Sale of desserts

The company has 17 retail stores. Of these, 5 are franchise stores (franchisee-owned and company-operated), and the remaining 12 stores are company-owned.

As of February 29, 2024, the company had 77 employees in different departments.

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Grill Splendour Services Limited - Promoter(s)

Srinidhi V Rao

Vandana Srinidhi Rao

Vivek Vijaykumar Sood

Pre Issue Share Holding : 49.75%

Post Issue Share Holding : 36.64%

Grill Splendour Services Limited IPO - Issue Objectives
1

Funding additional Working capital requirements

2

Pre-payment/Repayment, in full or part, of certain outstanding borrowings availed by the Company

3

General Corporate Purposes

Grill Splendour Services Limited IPO - Peers Comparison
Company Name EPS (Basic) EPS (Diluted) NAV (per share) (Rs) P/E (x) RoNW (%) P/BV Ratio Financial statements
Grill Splendour Services Limited 13.19 13.19 13.3 9.1 99.16 9.02 Standalone
Westlife Foodworld Ltd 7.16 7.16 36.29 112.36 19.72 22.15 Consolidated
Sapphire Foods India Limited 36.7 36.7 197.33 42.77 18.6 7.95 Consolidated
Jubilant Foodworks Ltd 5.35 5.35 30.88 83.8 17.32 14.52 Consolidated

Notes:

  1. RONW / EPS / NAV etc. is adjusted for face value.
  2. The P/E Ratio is computed by dividing the closing market price on March 28, 2024, on BSE by EPS.
  3. Birdy's financials are based on March 31, 2023.
Contact Details

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,

+91 22 5002 9517

po@birdys.in

https://www.birdys.in/

Registrar Contact Details

Bigshare Services Pvt Ltd

+91-22-6263 8200

ipo@bigshareonline.com

https://ipo.bigshareonline.com/ipo_status.html