Fixed Price IPO | ₹16 Cr | Listed at NSE SME | Mon, Apr 15, 2024 - Thu, Apr 18, 2024
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 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) (based on upper price). The minimum lot size for investment in 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 Open
Mon, Apr 15, 2024
IPO Close
Thu, Apr 18, 2024
Issue Price
₹120 per share
Market Cap (Pre-IPO)
₹62.50 Cr
| IPO Date | 15 to 18 Apr, 2024 |
| Listed on | Tue, Apr 23, 2024 |
| Face Value | ₹10 per share |
| Issue Price | ₹120 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 13,72,800 shares (agg. up to ₹16 Cr) |
| Reserved for Market Maker | 69,600 shares Rikhav Securities Ltd. (agg. up to ₹0.8352 Cr) |
| Fresh Issue (Ex Market Maker) | 13,03,200 shares (agg. up to ₹16 Cr) |
| Net Offered to Public | 13,03,200 shares (agg. up to ₹16 Cr) |
| Share Holding Pre Issue | 38,35,400 shares |
| Share Holding Post Issue | 52,08,200 shares |
| NSE Symbol | BIRDYS |
| ISIN | INE0PC901019 |
Grill Splendour IPO comprises a total issue size of 13,72,800 shares. The net offer to the public is 13,03,200 shares, after excluding 69,600 shares allotted on a firm basis. Of the Net offer 6,51,600 (50.00%) allocated to NII 6,51,600 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 6,51,600 | 50.00% | 47.47% |
| Retail Shares Offered | 6,51,600 | 50.00% | 47.47% |
| Firm Reservations | |||
| Market Maker Shares Offered | 69,600 | 5.07% | |
| Total Shares Offered | 13,72,800 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,200 shares and in multiples thereof.
| 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 |
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.
| Period Ended | 30 Nov 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 22.12 | 7.64 | 2.91 | 2.66 |
| Total Income | 8.86 | 15.32 | 11.52 | 8.25 |
| Profit After Tax | 0.62 | 1.99 | 0.03 | -0.04 |
| NET Worth | 4.95 | 2.01 | 0.02 | -0.02 |
| Reserves and Surplus | 1.11 | 2.00 | 0.01 | -0.03 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding additional Working capital requirements | 1.00 |
| 2 | Pre-payment/Repayment, in full or part, of certain outstanding borrowings availed by our Company; and | 11.15 |
| 3 | General Corporate Purposes | 3.95 |
| KPI | Nov 30, 2023 |
|---|---|
| Debt/Equity | 1.50 |
| RoNW | 12.46% |
| PAT Margin | 6.96% |
| Price to Book Value | 9.30 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 5.19 | 1.78 |
| P/E (x) | 23.12 | 67.58 |
| Promoter Holding | 49.75% | 36.64% |
| Market Cap | ₹62.50 Cr. |
The Birdy's IPO is subscribed 8.68 times on April 18, 2024 7:29:56 PM (Day 3). The public issue subscribed 12.78 times in the retail category, [.] times in the QIB category, and 4.59 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 4.59 | 6,51,600 | 29,89,200 |
| Retail | 12.78 | 6,51,600 | 83,25,600 |
| Total | 8.68 | 13,03,200 | 1,13,14,800 |
Total Application : 6,939
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to Merchant Banker including, underwriting, and selling commissions, brokerages, Advisors to the Company, payment to other intermediaries such as Legal Advisors, Registrars etc. and other out of pocket expenses, Brokerage and selling commission | 0.27 |
| 2 | Advertising and marketing expenses | 0.02 |
| 3 | Printing and stationery expenses, distribution, and postage | 0.02 |
| 4 | Regulatory and other expenses including Listing Fee | 0.07 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹120.00 |
| Open | ₹121.30 |
| Low | ₹120.00 |
| High | ₹127.35 |
| Last Trade | ₹127.35 |
Lead Manager Reports
Grill Splendour IPO is a SME IPO of 13,72,800 equity shares of the face value of ₹10 aggregating up to ₹16 Crores. The issue is priced at ₹120 per share. The minimum order quantity is 1200.
The IPO opens on Mon, Apr 15, 2024, and closes on Thu, Apr 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 Mon, Apr 15, 2024 and closes on Thu, Apr 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 Mon, Apr 22, 2024. Check the Grill Splendour IPO allotment status.
The Grill Splendour IPO listing date is on Tue, Apr 23, 2024.
