Grill Splendour Services share price opens with a mere 1.1% premium at ₹121.30 apiece on NSE SME

Grill Splendour Services share price made a muted debut on NSE SME today. On NSE SME, Grill Splendour Services share price opened at ₹121.30, which is 1.08% higher than the issue price of ₹120.

The upmarket bakery and patisserie franchise Grill Splendour Services IPO opened for subscriptions on Monday, April 15, and closed on Thursday, April 18. The IPO lot size for Grill Splendour Services was 1,200 shares, with a price band of ₹120 per share and a face value of ₹10.

Grill Splendour Services Private Ltd was founded as a hospitality company to purchase the bakery and confectionery business from WAH Restaurants Private Limited along with the trademark Birdy's Bakery & Patisserie.

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Also Read: Grill Splendour Services IPO allotment finalised; check latest GMP, 4 steps to check status

When Birdy's initially opened, it was known as "Birdy’s by Taj." It was first sold to WAH Restaurants Private Limited, and the company later purchased it from them in compliance with the previously mentioned terms of the acquisition agreement. Restoring the brand's quality and brilliance has been the company's main goal.

Grill Splendour IPO subscription status was 8.68 times, on day 3, with retail portion being subscribed 12.78 times, and NII portion booked 4.59 times.

Grill Splendour Services Ltd IPO details

About ₹16.47 crore is the total worth of the Grill Splendour Services IPO, which comprises of a new issue of 1,372,800 equity shares with a face value of ₹10. There is no offer-for-sale component.

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

The following are expected to be uses of the net proceeds from the new issue: repayment of some outstanding loans ( ₹11.15 crore), financing of additional working capital requirements ( ₹1 crore), general corporate purposes ( ₹3.95 crore), and offer expenses ( ₹37.36 lakhs).

The book running lead manager for the Grill Splendour Services IPO is Inventure Merchant Banker Services Pvt Ltd, and the registrar is Bigshare Services Pvt Ltd. Grill Splendour Services' IPO is being market-made by Rikhav Securities.

Also Read: Grill Splendour Services IPO: Issue oversubscribed on day 3 led by retail investors; check GMP, subscription status.

Grill Splendour Services IPO GMP today

Grill Splendour Services 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.

It is projected that Grill Splendour Services shares would list at a price of ₹128 per share, which is 6.67% more than the IPO price of ₹120, after accounting for the top 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: Ramdevbaba Solvent shares list with over 31% premium at ₹112 apiece on NSE SME

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