Grill Splendour Services Limited IPO: Price band set at ₹120 apiece; check GMP, issue details, more

Grill Splendour Services Limited IPO price band has been fixed at ₹120 apiece of face value of ₹10 each. Grill Splendour Services IPO will commence subscription from Monday, April 15, and end on Thursday, April 18. Grill Splendour Services Ltd IPO lot size consists of 1,200 shares. The issue price of ₹120 is 12.00 times of the face value.

The firm is a chain of gourmet bakeries and patisserie with 17 retail locations, a centralised manufacturing facility, and several corporate clients, according to the prospectus. The chain is distributed throughout Mumbai. Of these 17 retail locations, 12 are owned by them, and 5 are operated under the franchisee model (franchisee owned and business operated).

In order to purchase the bakery and confectionery business from WAH Restaurants Private Limited as well as the brand Birdy’s Bakery and Patisserie, Grill Splendour Services Private Ltd. was established as a hospitality company in November 2019.

Initially, Birdy’s was established as “Birdy’s by Taj.” After being sold to WAH Restaurants Private Limited for a while, the company purchased it from them under the terms of the previously mentioned acquisition agreement. Regaining the brand’s quality and sheen has been the company’s main goal.

As per the prospectus, the company’s listed peers are Westlife Foodworld (with a P/E of 112.36), Sapphire Foods (with a P/E of 42.77), and Jubilant Foodworks (with a P/E of 83.80).

Between March 31, 2022, and March 31, 2023, the company’s profit after tax (PAT) climbed by 5654.34% and its sales increased by 32.92%.

Grill Splendour Services Ltd IPO details

Grill Splendour Services IPO, which is worth about ₹16.47 crore, consists of a fresh issue of 1,372,800 equity shares with a face value of ₹10. There is no offer-for-sale component.

The company’s promoters are Vivek Vijaykumar Sood, Vandana Srinidhi Rao, and Srinidhi V. Rao.

The proposed uses of the net proceeds from the new issue are as follows: financing additional working capital requirements ( ₹1 crore), prepaying or repaying some outstanding loans that the company has taken out ( ₹11.15 crore), general corporate purposes ( ₹3.95 crore), and offer expenses ( ₹37.36 lakhs).

The registrar of the Grill Splendour Services IPO is Bigshare Services Pvt Ltd, while the book running lead manager is Inventure Merchant Banker Services Pvt Ltd. Rikhav Securities is the market maker for Grill Splendour Services IPO.

Grill Splendour Services Limited IPO GMP today

Grill Splendour Services Limited 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

Grill Splendour Services shares are expected to list at a price of ₹128 a share, 6.67% higher than the IPO price of ₹120, after accounting for the upper 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.

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