Grill Splendour Services is launching an IPO worth INR 1,647.36 lakhs, consisting of a fresh issue of 13,72,800 shares of INR 50 rupees each. The company aims to bolster working capital, repay debts, and support general corporate functions for sustained stability and growth.
Grill Splendour Services IPO – Important Dates
| Grill Splendour Services Limited IPO Date | April 15, 2024 to April 18, 2024 |
| Grill Splendour Services Limited IPO Listing Date | April 23, 2024 |
| Grill Splendour Services Limited IPO Price | INR 120 per share |
| Grill Splendour Services Limited IPO Lot Size | 1200 shares |
| Grill Splendour Services Limited IPO Total Issue Size | INR 1,647.36 lakhs |
| Grill Splendour Services Limited IPO Basis of Allotment | April 19, 2024 |
| Grill Splendour Services Limited IPO Initiation of Refunds | April 22, 2024 |
| Grill Splendour Services Limited IPO Credit of Shares to Demat | April 22, 2024 |
| Grill Splendour Services Limited IPO Issue Type | Fixed Price Issue IPO |
| Grill Splendour Services Limited IPO Listing At | NSE, SME |
Grill Splendour Services Ltd IPO – Company Profile
Grill Splendour Services Limited, a Mumbai-based gourmet Bakery and Patisserie chain, operates 17 retail stores and a centralized production facility. Five franchisee-owned and 12 company-owned outlets cater to diverse culinary preferences.
It was established in November 2019 and acquired Birdy’s Bakery and Patisserie from WAH Restaurants Private Limited. Following the acquisition, it initiated growth and brand expansion efforts through strategic investments and increased market presence.
They specialize in selling cakes & pastries, food items, beverages, and desserts. Their product categories cater to diverse culinary preferences, ensuring their customers a comprehensive range of options.
Grill Splendour Services Limited IPO Review
Grill Splendour Services Limited’s financial analysis reveals a mixed performance. Revenue initially increased but fell short later. Profitability and equity improved, while return on net worth declined, reflecting varying aspects of the company’s performance.
- Revenue Trend: The revenue increased from ₹1,150.49 lakhs in March 2022 to ₹1,529.35 lakhs in March 2023. The revenue for the current year’s 8-month period ending November 2023 is INR 833.64 lakhs, falling short of last year’s benchmark.
- Equity and Liabilities: Both equity and liabilities have shown a consistent increase over the periods, reflecting potential growth and expansion.
- Profitability: The profit after tax (PAT) has significantly increased from ₹3.46 lakhs in March 2022 to ₹16.65 lakhs by November 2023. This rise in profitability could be a source of reassurance for investors.
- Earnings per Share (EPS): The diluted EPS have fallen from ₹30.64 in March 2022 to ₹1.61 by November 2023, reflecting lower earnings per share for investors.
- Return on Net Worth (RoNW): The RoNW has decreased from 204.73% to 12.46%, indicating a decrease in the company’s ability to generate returns on shareholder equity.
- Financial Position: Total assets have increased, suggesting potential business growth.
Grill Splendour Services Ltd IPO Fundamental Analysis
| Particular | As of 31 March 2022 | As of 31 March 2023 | As of 30 November 2023 |
| Revenue (₹ in lakhs) | 1,150.49 | 1,529.35 | 883.64 |
| Equity (₹ in lakhs) | 1.69 | 200.79 | 494.98 |
| Expenses (₹ in lakhs) | 1,125.83 | 1,241.07 | 775.28 |
| Profit and Loss After Tax (₹ in lakhs) | 3.46 | 199.10 | 61.65 |
| Diluted EPS only (₹) | 34.60 | 1991 | 1.61 |
| Return on Net Worth (%) | 204.73 | 99.16 | 12.46 |
| NAV per Equity Share (₹) | 16.90 | 2,007.90 | 12.91 |
| Total Assets (in lakhs) | 290.59 | 764.02 | 2,211.54 |
| Total Liabilities (in lakhs) | 288.9 | 563.23 | 1,716.56 |
Grill Splendour Services Limited IPO Peer Comparison
Grill Splendour Services Limited shows moderate revenues and net profit, while Westlife Foodworld demonstrates substantial revenue growth. Sapphire Foods exhibits consistent income, and Jubilant Foodworks displays significant revenue and profitability.
| Company | Total Revenue (₹ in crores) | Face Value (₹) | P/E (₹) | EPS (Basic) (₹) | EPS (Diluted) (₹) | RoNW (%) | NAV per Equity Share (Basic) (₹) |
| Grill Splendour Services Limited | 15.32 | 10 | 9.10 | 13.19 | 13.19 | 99.16 | 13.30 |
| Westlife Foodworld | 2298.50 | 2 | 112.36 | 7.16 | 7.16 | 19.72 | 36.29 |
| Sapphire Foods | 1962.78 | 10 | 42.77 | 36.70 | 36.70 | 18.60 | 197.33 |
| Jubilant FoodWorks | 5095.99 | 2 | 83.80 | 5.35 | 5.35 | 17.32 | 30.88 |
Grill Splendour Services IPO Objective
The main objective of Grill Splendour Services Limited is to address its funding needs for additional working capital and to pre-pay or repay outstanding borrowings, ensuring financial stability and flexibility.
- Funding Additional Working Capital Requirements: The company plans to utilize INR 100 lakhs from the IPO proceeds, approximately 6% of the Issue size, alongside internal accruals and equity funding to meet future working capital requirements.
- Prepayment/Repayment, in whole or part, of certain outstanding borrowings availed by the company: The company proposes to utilize INR 1,115.00 lakhs from the Net Proceeds for repayment/prepayment of borrowings from BRFL, thereby reducing outstanding indebtedness and associated borrowing costs, including interest and prepayment penalties.
- General Corporate Purposes: The company will balance funds towards general corporate goals, including funding growth opportunities, strategic initiatives, partnerships, marketing, brand development, expanding facilities, and covering exigencies and expenses incurred.
Grill Splendour Services Ltd IPO Risks And Challenges
Grill Splendour Services Limited’s risks include managing rapid expansion, relying on top customers in retail sales, and adapting to changing consumer preferences due to the rise of food delivery services.
- Grill Splendour Services Limited encounters difficulties in managing rapid expansion, including operational demands, workforce, and financial resources, which may affect business prospects, economic health, and operational efficiency.
- They generate retail sales through ongoing and walk-in customer relationships, primarily under the “Birdy’s” brand. Revenue reliance on top customers poses financial risks despite efforts to diversify and maintain client relationships.
- The rise of food delivery services, mainly through third-party aggregators, poses opportunities and challenges for their business. Increasing reliance on delivery may impact foot traffic and require adaptation to changing consumer preferences.
Grill Splendour Services Limited IPO – Industry & Market Potential
India’s economy bounces back, ranking fifth globally with a 4% GDP increase in FY 2022-23. Contact-intensive services, rising employment, and government spending drive growth, showcasing market potential.
India’s food service sector, valued at Rs. 4,23,865 crore in 2018-19, is anticipated to expand to US$ 79.65 billion by 2028, driven by shifting demographics, urbanization, and heightened internet adoption.
The food services market in India is poised for significant growth, with predictions of reaching US$ 79.65 billion by 2028. Despite challenges, the industry shows resilience, particularly in the quick-service restaurant segment.
Grill Splendour Services Ltd IPO – Type of Offer
Grill Splendour Services is launching an IPO worth INR 1,647.36 lakhs, consisting of a fresh issue of 13,72,800 shares at 50 rupees each. The company aims to bolster working capital, repay debts, and support general corporate functions for sustained stability and growth.
Grill Splendour Services IPO Offer Size
The offer size of Grill Splendour Services Limited is INR 1,647.36 lakhs, consisting of a fresh issue of 13,72,800 shares of 50 rupees each. The company seeks funds to meet additional working capital and to pre-pay or repay outstanding borrowings, ensuring financial stability and flexibility.
Grill Splendour Services IPO Allotment Structure
Grill Splendour Services Limited’s IPO allotment structure includes a category for Retail Individual Investors (RII) with investments below ₹2 lakhs, a category for other investors exceeding ₹2 lakhs, and a reservation of 69,600 shares for Market Makers.
- Retail Individual Investors (RII): These individual investors apply for shares with a total value of less than Rs.2 lakhs.
- Other than retail individual investors: Such applications where the value exceeds INR 2 lakhs.
- Market Makers Reservation: A certain percentage or number of shares is reserved for market makers. The company has set aside 69,600 shares for this purpose.
How to apply for a Grill Splendour Services Limited IPO?
To apply for the Grill Splendour Services Limited IPO through Alice Blue, you would typically follow these steps:
Open a Demat and Trading Account: If you don’t have one already, you must open a Demat and trading account with Alice Blue.
- Check for IPO Details: Once your account is active, you can check for the Grill Splendour Services Limited IPO details in the IPO section of the Alice Blue platform.
- Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
- Submit the Application: Confirm all your details and submit your application.
You can apply for the Grill Splendour Services Limited IPO at Alice Blue in just a few clicks!
Check Allotment Status: After the allotment process, you can check the allotment status to see if you have received any shares.
Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.
How do you check Grill Splendour Services Limited’s IPO Allotment Status?
Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:
- Log in to your Alice Blue Account: You can do this through the Alice Blue website or their trading app.
- Navigate to the Portfolio or IPO Section: This might differ based on the layout of Alice Blue’s platform, but generally, you can find the status of your IPO application under the ‘Portfolio’ or ‘IPO’ section.
- Find the IPO Allotment Status: Look for a sub-section called ‘IPO Allotment Status’ or something similar. This is where you can see the status of the IPOs you have applied for.
- Select the Grill Splendour Services Limited IPO: If you have applied for multiple IPOs, there might be a dropdown menu or a list where you can select the IPO you are interested in. Select the Grill Splendour Services Limited IPO.
- Check the Status: The status of your application should be displayed here. If the shares have been allocated to you, it would be mentioned here.
If you face any issues, it’s recommended that you contact Alice Blue’s customer support for detailed assistance.
Apart from Alice Blue, there are other ways to check the allotment status of the Grill Splendour Services Limited IPO:
● Registrar’s Website: Visit the website of Bigshare Services Private Limited, the registrar of the Grill Splendour Services Limited IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN, application, or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status.
● NSE SME: You can also check the allotment status on the official websites of the National Stock Exchange (NSE) Small Medium Enterprise (SME). You would need your application number and PAN to check the status.
Please note that the allotment status will only be available after completing the allotment process, a few days after the IPO window closes.
Grill Splendour Services Limited Ltd IPO Offer Registrar
The registrar for the Grill Splendour Services Limited IPO is Bigshare Services Private Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.
Contact information for the registrar:
BIGSHARE SERVICES PRIVATE LIMITED
Office No. S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali Caves Road,
Andheri (East), Mumbai – 400 093,
Maharashtra, India
Telephone: +91 22 6263 8200
Email: [email protected]
Website: [email protected]
Grill Splendour Services Limited Limited IPO – FAQs
The allotment date of the Grill Splendour Services Limited IPO is April 19, 2024.
The price band of the issue is INR 120 per share.
The offer size of Grill Splendour Services Limited is INR 1,647.36 lakhs, consisting of a fresh issue of 13,72,800 shares of 50 rupees each. The company seeks funds to meet additional working capital and to pre-pay or repay outstanding borrowings, ensuring financial stability and flexibility.
The listing date of Grill Splendour Services Limited’s IPO is April 23, 2024.
