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Grill Splendour IPO is a fixed price issue of ₹16.47 crores. The issue is entirely a fresh issue of 0.14 crore shares of ₹16.47 crore.
Grill Splendour IPO bidding started from Apr 15, 2024 and ended on Apr 18, 2024. The allotment for Grill Splendour IPO was finalized on Apr 19, 2024. The shares got listed on NSE SME on Apr 23, 2024.
Grill Splendour IPO price is ₹120.00 per share . The lot size for an application is 1,200. The minimum amount of investment required by an individual investor (retail) is ₹1,44,000 (1200 shares). The minimum lot size investment for HNI is 2 lots (2,400 shares), amounting to ₹2,88,000.
Inventure Merchant Banker Services Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The market maker of the company is Rikhav Securities Ltd..
Refer to Grill Splendour IPO RHP for detailed Information.
| IPO Date | April 15, 2024 to April 18, 2024 |
| Listing Date | April 23, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹120 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 13,72,800 shares (aggregating up to ₹16.47 Cr) |
| Reserved for Market Maker | 69,600 shares Rikhav Securities Ltd. (aggregating up to ₹0.8352 Cr) |
| Net Offered to Public | 13,03,200 shares (aggregating up to ₹15.64 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 38,35,400 shares |
| Share Holding Post Issue | 52,08,200 shares |
Birdy's IPO offers total 13,72,800 shares. Out of which 6,51,600 (47.47%) allocated to NII, 6,51,600 (47.47%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 69,600 (5.07%) |
| NII (HNI) Shares Offered | 6,51,600 (47.47%) |
| Retail Shares Offered | 6,51,600 (47.47%) |
| Total Shares Offered | 13,72,800 (100.00%) |
Grill Splendour IPO opens on April 15, 2024, and closes on April 18, 2024.
| IPO Open Date | Mon, Apr 15, 2024 |
| IPO Close Date | Thu, Apr 18, 2024 |
| Tentative Allotment | Fri, Apr 19, 2024 |
| Initiation of Refunds | Mon, Apr 22, 2024 |
| Credit of Shares to Demat | Mon, Apr 22, 2024 |
| Tentative Listing Date | Tue, Apr 23, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Apr 18, 2024 |
Investors can bid for a minimum of 1,200 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹1,44,000 |
| Retail (Max) | 1 | 1,200 | ₹1,44,000 |
| HNI (Min) | 2 | 2,400 | ₹2,88,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Established in November 2019, Grill Splendour Services Limited 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.
Grill Splendour Services Private Ltd. acquired Birdy's Bakery and Patisserie from WAH Restaurants Private Limited in November 2019 to expand its reach in the hospitality industry.
The company's product portfolio can be divided into the following areas
The company has 17 retail stores, 5 of which are operated under a franchise model (franchisee-owned, and company-operated), while the remaining 12 stores are owned by the company.
As of February 29, 2024, the company employed 77 people in various departments.
Grill Splendour Services Limited's revenue increased by 32.92% and profit after tax (PAT) rose by 5654.34% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Nov 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 2,211.54 | 764.02 | 290.59 | 265.98 |
| Total Income | 885.64 | 1,531.62 | 1,152.27 | 825.22 |
| Profit After Tax | 61.65 | 199.10 | 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 |
| Amount in ₹ Lakhs | ||||
The market capitalization of Grill Splendour IPO is ₹62.50 Cr.
KPI as of Thu, Nov 30, 2023.
| KPI | Values |
|---|---|
| Debt/Equity | 1.50 |
| RoNW | 12.46% |
| PAT Margin | 6.96% |
| Price to Book Value | 9.30 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 5.19 | 1.78 |
| P/E (x) | 23.12 | 67.58 |
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
[Dilip Davda] The company is in business of Cakes & Pastries, Food Sale, Beverages, and Desert Sales. It posted bumper profits from FY23 onwards i.e. pre-IPO years, which appears to be an exercise to get fancy valuations. Based on its annualized FY24 earnings, the issue is aggressively priced. Small paid-up equity capital post-IPO indicates longer gestation period for migration. There is no harm in skipping this pricey bet. Read detail review...
| Listing Date | April 23, 2024 |
| BSE Script Code | |
| NSE Symbol | BIRDYS |
| ISIN | INE0PC901019 |
| Final Issue Price | ₹120 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹120.00 |
| Open | ₹121.30 |
| Low | ₹120.00 |
| High | ₹127.35 |
| Last Trade | ₹127.35 |
Grill Splendour Services Ltd.
J1, Shram Siddhi Vinayak Premises Co-Op Soc Ltd C1
1st Floor, Plot - 8, Wadala Truck Terminal Road,
Antop Hill,
Mumbai, Maharashtra, 400037
Phone: +91 22 5002 9517
Email: ipo@birdys.in
Website: https://www.birdys.in/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Grill Splendour IPO is a SME IPO of 13,72,800 equity shares of the face value of ₹10 aggregating up to ₹16.47 Crores. The issue is priced at ₹120 per share. The minimum order quantity is 1200.
The IPO opens on April 15, 2024, and closes on April 18, 2024.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Grill Splendour IPO using UPI as a payment gateway. Zerodha customers can apply in Grill Splendour IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Grill Splendour IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Grill Splendour IPO opens on April 15, 2024 and closes on April 18, 2024.
Grill Splendour IPO lot size is 1200, and the minimum amount required for application is ₹1,44,000.
You can apply in Grill Splendour IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Grill Splendour IPO will be done on Friday, April 19, 2024, and the allotted shares will be credited to your demat account by Monday, April 22, 2024. Check the Grill Splendour IPO allotment status.
The Grill Splendour IPO listing date is on Tuesday, April 23, 2024.
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