Grill Splendour Services Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | April 15, 2024 to April 18, 2024 |
| Listing Date | April 23, 2024 |
| Face Value | ₹ 10 per share |
| Price | ₹ 120 per share |
| Lot Size | 1,200 Shares |
| Total Issue Size | 13,72,800 shares (aggregating up to ₹ 16.47 Cr) |
| Fresh Issue | 13,72,800 shares (aggregating up to ₹ 16.47 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 38,35,400 |
| Share holding post issue | 52,08,200 |
| Market Maker portion | 69,600 shares Rikhav Securities |
About Grill Splendour Services Limited IPO
Grill Splendour Services Ltd. (GSSL) is a chain of gourmet Bakery and Patisserie spread across Mumbai. The business overview provided outlines a strategic move towards establishing a strong foothold in the gourmet bakery and patisserie sector within Mumbai.The company is engaged in the products like Cakes & Pastries, Food Sale, Beverages, and Desert Sales.Birdy's IPO is a fixed price issue of Rs 16.47 crores.
Objectives of BIRDY’S IPO
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
- 1. Funding additional Working capital requirements;
- 2. Pre-payment/Repayment, in full or part, of certain outstanding borrowings availed by the Company; and
- 3. General Corporate Purposes
BIRDY’S IPO review
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.
Grill Splendour Services Limited IPO Financial Information
Latest Revenue
885.64
₹ Crore
Profit After Tax
61.65
₹ Crore
Net Worth
494.98
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 30 Nov 2023 | 2,211.54 | 885.64 | 61.65 | 494.98 | — | ||||
| 31 Mar 2023 | 764.02 | 1,531.62 | 199.10 | 200.79 | — | ||||
| 31 Mar 2022 | 290.59 | 1,152.27 | 3.46 | 1.69 | — | ||||
| 31 Mar 2021 | 265.98 | 825.22 | -3.63 | -1.77 | — | ||||
| Amount in ₹ Crore | |||||||||
Grill Splendour Services Limited Key Performance Indicator
| KPI | Values |
|---|---|
| Debt/Equity | 1.5 |
| RoNW | 12.46% |
| P/BV | 9.3 |
| PAT Margin (%) | 6.96 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.19 | 1.78 |
| P/E (x) | 23.12 | 67.58 |
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Competitive Strengths
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Grill Splendour Services Limited IPO Timeline
| 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 confirmation | 5 PM on April 18, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹144,000 |
| Retail (Max) | 1 | 1200 | ₹144,000 |
| HNI (Min) | 2 | 2,400 | ₹288,000 |