Grill Splendour Services was incorporated on November 29, 2019. It operates a chain of gourmet bakeries and patisseries spread across Mumbai, with 17 retail stores, a centralized production facility, and several corporate clients. Out of these 17 retail stores, 5 operate under the franchise model, while the remaining 12 are owned by the company.
| Bidding Dates |
|---|
| 15 Apr 2024 - 18 Apr 2024 |
| Subscription |
|---|
| 8.29x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,44,000 | 1 | 1 | 1200 | 1.4 M | ₹120 | 36.64 % | ₹164.7 M | RHP DOC |
Grill Splendour Services IPO SUBSCRIPTION STATUS
18 Apr '24Grill Splendour Services IPO overall subscription rate was 8.29 times the total available shares
Grill Splendour Services IPO retail subscription rate was 12.13 times in the retail segment
Grill Splendour Services IPO non-institutional investor subscription rate was 4.46 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
18 Apr 2024 (Day 3) | 12.13x | 4.46x | - |
16 Apr 2024 (Day 2) | 6.28x | 1.34x | - |
15 Apr 2024 (Day 1) | 3.67x | 0.35x | - |
Grill Splendour Services FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) |
| 8MFY24 | 6.2 | 88.4 | -7.0 | -8.7 |
| FY23 | 19.9 | 152.9 | 22.7 | 18.5 |
| FY22 | 0.3 | 115.0 | 0.3 | -2.9 |
| FY21 | -0.4 | 82.5 | 3.2 | -3.3 |
Grill Splendour Services IPO SUBSCRIPTION STATUS DETAILS
Grill Splendour Services had 1.4 M shares on offer
Grill Splendour Services IPO offer price was ₹120
Grill Splendour Services IPO minimum Investment was ₹144000
Grill Splendour Services IPO issue size was ₹ 164.7 M
Grill Splendour Services had a minimum lot size of 1200 Shares per application
Grill Splendour Services NUMBER OF SHARES ON OFFER
Grill Splendour Services IPO IMPORTANT DATES
| Issue Open Date | 15 Apr 2024 |
| Issue close Date | 18 Apr 2024 |
| Allotment Date | 19 Apr 2024 |
| Refund Date | 22 Apr 2024 |
| Demat Account Credit Date | 22 Apr 2024 |
| Listing Date | 23 Apr 2024 |
| Listing on Exchange(s) | NSE |
| Grill Splendour Services Allotment Status | Exchange |
Grill Splendour Services IPO subscription opened on 15 Apr 2024, and closed on 18 Apr 2024
IPO allotment for Grill Splendour Services was finalized on Friday, 19 Apr 2024
IPO listing for Grill Splendour Services was on NSE on Tuesday, 23 Apr 2024
Grill Splendour Services IPO LISTING GAINS
| Issue Price (adjusted) | 120.0 |
| Listing Open Price | 121.3 |
| Listing Close Price | 127.3 |
| Listing Gain% | 1.1% |
| Current Gain% | -26.3% |
Grill Splendour Services Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Grill Splendour Services Ltd. | 88.5 | 46.1 | -5.7 | -0.1 | 4.5 | -55.1 | -42.3 | 10.2 | -0.8 | -10.7 | -125.5 | -15.5 | 69.7 |
| Jubilant Foodworks Ltd. | 486.5 | 32101.5 | 74.9 | 0.7 | 3.4 | 18.7 | 4.5 | 9586.6 | 16.7 | 428.5 | 103.3 | 6.5 | 103.3 |
| Travel Food Services Ltd. | 1428.6 | 18811.7 | 42.7 | 2 | 11.4 | 30.6 | 19.3 | 1742.6 | -1.1 | 441 | 21.4 | 33.5 | 21.4 |
| Devyani International Ltd. | 134.7 | 16611.4 | -600.3 | 4.3 | 2.8 | -2.5 | -0.6 | 5656.6 | 13.4 | -38.6 | -522.2 | -0.2 | -140.1 |
| Westlife Foodworld Ltd. | 594.8 | 9275.9 | 292.7 | 1.4 | 3.4 | 5.2 | 1.1 | 2657 | 5.6 | 32.3 | 166.2 | 2 | 213.2 |
| Sapphire Foods India Ltd. | 224.2 | 7206 | -403.3 | 1.3 | 2.2 | -2.3 | -1 | 3153.4 | 8 | -32 | -266 | -0.6 | -299.8 |
Grill Splendour Services INFORMATION ON IPO ISSUE
About Grill Splendour Services
Grill Splendour Services was incorporated on November 29, 2019. It operates a chain of gourmet bakeries and patisseries spread across Mumbai, with 17 retail stores, a centralized production facility, and several corporate clients. Out of these 17 retail stores, 5 operate under the franchise model, while the remaining 12 are owned by the company.
Object of the Issue
- Funding additional working capital requirements
- Pre-payment/repayment, in full or part, of certain outstanding borrowings availed by the company
- General corporate purposes
Grill Splendour Services - PROMOTERS
| Name |
|---|
| Srinidhi V Rao |
| Vandana Srinidhi Rao |
| Vivek Vijaykumar Sood |
Grill Splendour Services Lead Manager
Inventure Merchant Banker Services Private Limited
compliance@inventuremerchantbanker.com
Grill Splendour Services Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Grill Splendour Services Strengths
Strong brand recognition
The brand Birdy’s was initially established as “Birdy’s by Taj”. It was later acquired by WAH Restaurants and subsequently acquired by the company. The primary objective of the company was to restore the quality and reputation of the brand
Chain of Stores
The company is a chain of gourmet bakery and patisserie spread across Mumbai and Thane through 17 retail stores, a centralized production facility and multiple corporate clients
Customer relationships
The company operates a chain of gourmet bakeries and patisseries across Mumbai and Thane, comprising 17 retail stores, a centralized production facility, and serving multiple corporate clients
Grill Splendour Services Risks
Highly competitive industry
The company operates in a fiercely competitive industry, and its revenues, profits, or market share could be negatively impacted if it fails to compete effectively
Geographically concentrated
The business is concentrated geographically in Mumbai, Maharashtra. Any loss or shutdown of operations at any of the facilities in this area may have an adverse effect on the business
Negative cash flow
The company experienced negative cash flow from operating activities in recent fiscal periods. Sustained negative cash flow could adversely impact the business
IPO FAQs
The promoters of the company are Srinidhi V Rao, Vandana Srinidhi Rao and Vivek Vijaykumar Sood.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 120.0 - 120.0.
The IPO application opens on Apr 15, 2024 and closes on Apr 18, 2024.
The minimum lot size for the IPO is 1200. The maximum lot size for the IPO is 1200.
For all category investors, the minimum application amount for this IPO is Rs. 144,000.0, the maximum value for this IPO is Rs 144,000.0.
This IPO will be allotted on Apr 19, 2024.
The refund will be credited to your account on Apr 22, 2024.
The allotted shares will be credited to your demat on Apr 22, 2024.
Grill Splendour Services Ltd.’s shares listed on the stock exchanges on Apr 23, 2024.