Grill Splendour Services Limited IPO: Price band set at ₹120 apiece; check GMP, issue details, more

  • Grill Splendour Services Ltd IPO price band set at 120 with subscription from April 15 to April 18. Lot size includes 1,200 shares, priced at 12.00 times the face value. Company owns 12 out of 17 retail locations in Mumbai, aiming to maintain brand quality.

Dhanya Nagasundaram
Published10 Apr 2024, 09:03 AM IST
Grill Splendour Services Limited IPO price band has been fixed at  <span class='webrupee'>₹</span>120 apiece of face value of  <span class='webrupee'>₹</span>10 each.
Grill Splendour Services Limited IPO price band has been fixed at ₹120 apiece of face value of ₹10 each. (https://www.birdys.in/)

Grill Splendour Services Limited IPO price band has been fixed at 120 apiece of face value of 10 each. Grill Splendour Services IPO will commence subscription from Monday, April 15, and end on Thursday, April 18. Grill Splendour Services Ltd IPO lot size consists of 1,200 shares. The issue price of 120 is 12.00 times of the face value.

The firm is a chain of gourmet bakeries and patisserie with 17 retail locations, a centralised manufacturing facility, and several corporate clients, according to the prospectus. The chain is distributed throughout Mumbai. Of these 17 retail locations, 12 are owned by them, and 5 are operated under the franchisee model (franchisee owned and business operated). 

In order to purchase the bakery and confectionery business from WAH Restaurants Private Limited as well as the brand Birdy's Bakery and Patisserie, Grill Splendour Services Private Ltd. was established as a hospitality company in November 2019.

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Initially, Birdy's was established as "Birdy’s by Taj." After being sold to WAH Restaurants Private Limited for a while, the company purchased it from them under the terms of the previously mentioned acquisition agreement. Regaining the brand's quality and sheen has been the company's main goal.

As per the prospectus, the company's listed peers are Westlife Foodworld (with a P/E of 112.36), Sapphire Foods (with a P/E of 42.77), and Jubilant Foodworks (with a P/E of 83.80).

Between March 31, 2022, and March 31, 2023, the company's profit after tax (PAT) climbed by 5654.34% and its sales increased by 32.92%.

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Grill Splendour Services Ltd IPO details

Grill Splendour Services IPO, which is worth about 16.47 crore, consists of a fresh issue of 1,372,800 equity shares with a face value of 10. There is no offer-for-sale component.

The company's promoters are Vivek Vijaykumar Sood, Vandana Srinidhi Rao, and Srinidhi V. Rao.

The proposed uses of the net proceeds from the new issue are as follows: financing additional working capital requirements ( 1 crore), prepaying or repaying some outstanding loans that the company has taken out ( 11.15 crore), general corporate purposes ( 3.95 crore), and offer expenses ( 37.36 lakhs).

The registrar of the Grill Splendour Services IPO is Bigshare Services Pvt Ltd, while the book running lead manager is Inventure Merchant Banker Services Pvt Ltd. Rikhav Securities is the market maker for Grill Splendour Services IPO.

Also Read: IPO Watch: Mainboard IPO space seems to be in lull in new fiscal yr. Analysts decode key reasons behind the fading buzz

Grill Splendour Services Limited IPO GMP today 

Grill Splendour Services Limited IPO GMP or grey market premium is +8. This indicates Grill Splendour Services share price were trading at a premium of 8 in the grey market, according to investorgain.com.

Grill Splendour Services shares are expected to list at a price of 128 a share, 6.67% higher than the IPO price of 120, after accounting for the upper end of the IPO pricing range and the current premium on the grey market.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Aluwind Architectural share price hits 5% upper circuit after muted debut on NSE SME

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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First Published:10 Apr 2024, 09:03 AM IST
HomeMarketsIPOGrill Splendour Services Limited IPO: Price band set at ₹120 apiece; check GMP, issue details, more

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