What you must know about Grill Splendour Services IPO?

Grill Splendour Services, founded in 2019, is network of gourmet bakeries & patisseries in Mumbai with 17 retail locations, central manufacturing plant, & many corporate clients that operate under brand name Birdy's. Grill Splendour Services purchased Birdy's Bakery & Patisserie from WAH Restaurants Private Limited in November 2019 to broaden its presence in hospitality business.

Grill Splendour Services Limited, founded in November 2019, is network of gourmet bakeries & patisseries in Mumbai with 17 retail locations, central manufacturing plant, & many corporate clients operating under Birdy's brand name.

Grill Splendour Services Private Ltd. purchased Birdy's Bakery & Patisserie from WAH Restaurants Private Limited in November 2019 to broaden its presence in hospitality business.

 Grill Splendour Services's product portfolio may be split into following categories:

• Cakes & Pastries
• Sale of food goods
• Beverages
• Sale of desserts

Firm operates 17 retail outlets, 5 of which are franchised (franchisee-owned & company-operated), with remaining 12 owned by company.

Highlights of Grill Splendour Services Private IPO issue

Here are some of key highlights to public issue of Grill Splendour Services Private Ltd.

• Grill Splendour Services' SME IPO is available for subscription today (April 15). business plans to collect around ₹16.47 crore through its SME IPO, which will conclude on April 18. business will also list its shares on NSE SME platform.
•  IPO commences on April 15 & concludes on April 18, with final allotment of shares taking place on April 19 & company's shares anticipated to be listed on April 23.
•  IPO of 13.7 lakh shares intends to collect around ₹16.5 crore. Investors can bid for up to 1200 shares at ₹120 each.

Net revenues from IPO will be utilized to cover working capital requirements, debt repayment, general business objectives, & public offering fees, according to firm.

Promoter holdings & investor allocation quota for Grill Splendour Services IPO

Promoters of company are Srinidhi V Rao, Vandana Srinidhi Rao & Vivek Vijaykumar Sood.

Grill Splendour Services (Birdy's) IPO is offering total of 1,372,800 shares, with 47.47% allocated to Non-Institutional Investors (NII) & another 47.47% allocated to Retail Individual Investors (RII). This indicates balanced distribution between institutional & retail investors, aiming to attract diverse range of investors to participate in IPO.

Furthermore, allocation includes 5.07% of shares offered to Market Makers, which plays crucial role in maintaining liquidity & stability in secondary market once IPO is listed. Absence of shares offered to Anchor Investors suggests that company may not have sought pre-IPO investment from institutional investors.

Equal distribution of shares between NII & RII indicates that company aims to provide opportunities for both institutional & retail investors to participate in IPO on equal footing. This approach could enhance demand & ensure broad base of shareholders post-listing, potentially supporting stock's liquidity & trading volume.

Lot sizes for investing in Grill Splendour Services IPO

Grill Splendour Services (Birdy's) IPO allows investors to bid for minimum of 1200 shares & in multiples thereof. For retail investors, minimum investment is ₹144,000 for one lot of 1200 shares, with option to apply for additional lots. High Net Worth Individuals (HNI) have minimum bid size of 2400 shares, amounting to ₹288,000 for two lots. This structure aims to accommodate both retail & HNI investors, ensuring broader participation in IPO.

Key dates for Grill Splendour Services IPO & how to apply?

Birdy's IPO is scheduled to open for subscription on April 15, 2024, & will close on April 18, 2024. basis of allotment will be finalized by April 19, 2024, followed by initiation of refunds & crediting of shares to demat accounts on April 22, 2024.

IPO is set to be listed on stock exchange on April 23, 2024. Investors are required to confirm their UPI mandate by 5 PM on April 18, 2024, for participation in IPO.

Investors can apply either through their existing trading account or ASBA application can be directly logged through internet banking account. This can only be done through authorized list of self-certified syndicate banks (SCSB). In ASBA application, requisite amount is only blocked at time of application & necessary amount is debited only on allotment. Investors can apply in retail quote (up to ₹2 lakh per application) or in HNI / NII quota (above ₹2 lakh). Minimum lot sizes will be known after pricing.

Financial highlights of Grill Splendour Services Private Ltd

Table below captures key financials of Grill Splendour Services Private Ltd for last 3 completed financial years & 8month of FY24.

Data Source: Company RHP filed with SEBI (All ₹ figures are in lakhs)

Financial data for Grill Splendour Services Limited reveals substantial improvement in both revenue & profit after tax (PAT) over period ending March 31, 2022, compared to previous fiscal year.

1. There was significant increase in revenue from ₹290.59 lakhs in March 2022 to ₹1,152.27 lakhs in March 2023, representing growth of approximately 297.42%. This surge indicates robust top-line performance for company.

2. Company's profit after tax experienced remarkable escalation from ₹3.46 lakhs in March 2022 to ₹199.10 lakhs in March 2023, marking exponential growth of about 5654.34%. This substantial improvement underscores enhanced profitability & operational efficiency.

3. Asset base of Grill Splendour Services Limited witnessed notable expansion, with total assets rising from ₹290.59 lakhs in March 2022 to ₹2,211.54 lakhs in November 2023. This growth suggests increased investment in resources, potentially to support company's expansion initiatives.

4. Company's net worth & reserves also experienced significant growth, indicating improved financial strength & stability. Net worth increased from ₹1.69 lakhs in March 2022 to ₹494.98 lakhs in November 2023, while reserves surged from ₹0.69 lakhs to ₹111.44 lakhs during same period.

Overall, financial analysis suggests that Grill Splendour Services Limited has demonstrated commendable performance, marked by substantial revenue growth, enhanced profitability, & strengthened financial position. These positive trends indicate effective strategic management & bode well for company's future prospects & shareholder value.