10-Apr-2024
2 mins read
Grill Splendour Services IPO is open for subscription starting Monday, April 15, 2024, and closing on Thursday, April 18, 2024. The price of this upcoming IPO is decided at Rs 120 per share. The minimum lot size of this application for the retail category is 1200 shares. Meanwhile, the minimum lot size for the HNI category is 2 lots consisting of 2400 shares. The minimum amount of investment required for retail category investors is Rs 1,44,000 (120 x 1200 shares). However, for the HNI category, the minimum investment amount required is Rs 2,88,000 (120 x 2400 shares). Grill Splendour Services IPO is a fixed price issue of Rs 16.47 crores. This upcoming IPO issue is completely a fresh issue of 13.73 lakh equity shares. The offer for sale component is not available in this issue. The allotment for this new IPO is expected to be finalised on Friday, April 19, 2024. Grill Splendour Services IPO will be listed on NSE SME, and the listing date is fixed on Tuesday, April 23, 2024. The book-running lead manager of Grill Splendour Services IPO is Inventure Merchant Banker Services Private Limited. The registrar for this IPO is Bigshare Services Private Limited. The market maker of this issue is Rikhav Securities.
About Grill Splendour Services Limited
Grill Splendour Services Company incorporated in November 2019, is a chain of gourmet bakeries and patisseries in Mumbai. Company has acquired the bakery and confectionery business along with the brand Birdy’s Bakery and Patisserie from WAH Restaurants Private Limited. Grill Splendour Services has 17 retail stores, a centralised production facility and multiple corporate clients. Out of 17 retail stores, five of them are running in a franchisee model and the rest 12 are owned by them. The product portfolio of the company are Cakes and Pastries, Food Sale, Beverages and Desert Sales. The company manages its delivery logistics with four vehicles that run on fuel sourced from local petrol pumps. As of February 29, 2024, the company has 77 employees in various departments.
Objectives of Grill Splendour Services IPO
The net amount received from this issue will be utilised for funding the additional working capital requirements. Other than this, remaining funds will be used for repayment or prepayment of certain borrowing availed by the company. Moreover, the general corporate purposes will also be met.
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Financials of Grill Splendour Services Limited (Amt in Rs Lakhs)
Grill Splendour Services posted a revenue of Rs 885.64 lakhs and PAT of Rs 61.65 lakhs for the period ending on 30 November 2023. The company’s revenue rose by 32.92% and profit after tax increased by 5654.34% between the FY ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30-Nov-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 2,211.54 | 764.02 | 290.59 | 265.98 |
| Revenue | 885.64 | 1,531.62 | 1,152.27 | 825.22 |
| Profit After Tax | 61.65 | 199.1 | 3.46 | -3.63 |
| Net Worth | 494.98 | 200.79 | 1.69 | -1.77 |
| Reserves and Surplus | 111.44 | 199.79 | 0.69 | -2.77 |
Other Important Details of Grill Splendour Services IPO
| IPO Date | April 15, 2024 to April 18, 2024 |
| Listing Date | 23-Apr-24 |
| Face Value | Rs 10 per share |
| Price | Rs 120 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 1,372,800 shares amounting to Rs 16.47 crore |
| Fresh Issue | 1,372,800 shares amounting Rs 16.47 crore |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 3,835,400 |
| Shareholding post issue | 5,208,200 |
| Market Maker portion | 69,600 shares |
Time-Table of Grill Splendour Services IPO
| IPO Open Date | Monday, April 15, 2024 |
| IPO Close Date | Thursday, April 18, 2024 |
| Basis of Allotment | Friday, April 19, 2024 |
| Initiation of Refunds | Monday, April 22, 2024 |
| Credit of Shares to Demat | Monday, April 22, 2024 |
| Listing Date | Tuesday, April 23, 2024 |
| Cut-off time for UPI mandate | 5 PM on April 18, 2024 |
Lot Size of Grill Splendour Services IPO
| Application | Lots | Shares | Amount |
| Retail - minimum | 1 | 1200 | Rs 144,000 |
| Retail - maximum | 1 | 1200 | Rs 144,000 |
| HNI - minimum | 2 | 2,400 | Rs 288,000 |
IPO Reservation of Grill Splendour Services Limited
| Investor Category | Shares Offered |
| Retail | 50 percent of the Net issue |
| Others | 50 percent of the Net issue |
Key Performance Indicator of Grill Splendour Services Limited IPO
| KPI | Values |
| Debt/Equity | 1.5 |
| RoNW | 12.46% |
| P/BV | 9.3 |
| PAT Margin | 6.96 |
EPS and P/E Ratio Post IPO
| Pre IPO | Post IPO | |
| EPS (Rs) | 5.19 | 1.78 |
| P/E (x) | 23.12 | 67.58 |
Promoters of Grill Splendour Services Limited and Their Holdings
The promoters of Grill Splendour Services company are Srinidhi V Rao, Vandana Srinidhi Rao and Vivek Vijaykumar Sood.
| Shareholding Pre Issue | 49.75 percent |
| Shareholding Post Issue | 36.64 percent |
Lead Manager(s) of Grill Splendour Services IPO
The lead manager for Grill Splendour Services IPO is Inventure Merchant Banker Services Private Limited.
How do you apply for the Grill Splendour Services IPO?
Wait for the public issue to open for subscription, then click here to apply for the Grill Splendour Services Limited IPO with Bigul.
How do you check the allotment status of Grill Splendour Services IPO?
The registrar for Grill Splendour Services IPO is Bigshare Services Private Limited. To check your allotment status, please click here.
FAQs
1. What is the Grill Splendour Services IPO?
Grill Splendour Services IPO is a book-built issue of Rs 44.40 crores. This upcoming IPO issue is completely a fresh issue of 40 lakh equity shares. The offer for sale component is not available in this issue. The price of this upcoming IPO is decided at Rs 111 per share. The minimum lot size of this application for the retail category is 1200 shares.
2. Who are the lead managers for the Grill Splendour Services Limited IPO?
Inventure Merchant Banker Private Limited is appointed as the lead manager for the IPO.
3. What is the role of Bigshare Services Private Limited in this IPO?
Bigshare Services Private Limited is the registrar for Grill Splendour Services Limited, handling the IPO's administrative aspects.
4. How can I apply for the Grill Splendour Services IPO?
The public subscription of this new IPO will open on April 15, 2024. Click here to initiate the application process.
5. How will the net proceeds from the IPO be utilised?
The net amount received from this issue will be utilised for funding the additional working capital requirements. Other than this, remaining funds will be used for repayment or prepayment of certain borrowing availed by the company. Moreover, the general corporate purposes will also be met.
6. How can I check the allotment status of the IPO?
Investors who applied can check the allotment status of the Grill Splendour Services Limited IPO 2024 by visiting here. For further updates follow Bigul.
7. What is the financial performance of Grill Splendour Services Limited?
Grill Splendour Services posted a revenue of Rs 885.64 lakhs and PAT of Rs 61.65 lakhs for the period ending on 30 November 2023. The company’s revenue rose by 32.92% and profit after tax increased by 5654.34% between the FY ending with March 31, 2023 and March 31, 2022.
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