Grill Splendour Services’ Lukewarm Debut, Opens Just 1.08% Up at ₹121.30!

Grill Splendour Services, previously Birdy's, had a modest NSE SME debut, opening at ₹121.30, slightly up by 1.08% from the issue price, showcasing cautious investor interest initially.
Grill Splendour Services' Lukewarm Debut, Opens Just 1.08% Up at ₹121.30!

Grill Splendour Services also known as Birdy’s had a subdued market debut on NSE SME, opening at ₹121.30, just 1.08% above the issue price of ₹120. This minimal premium reflects a cautious investor reception on its first trading day.

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Grill Splendour Services’ IPO, with a share price of ₹120 and lot size of 1,200, opened on April 15 and closed on April 18. By day three, it was subscribed 8.68 times, with retail demands at 12.78 times and NII subscriptions at 4.59 times.

Established in November 2019, Grill Splendour Services Limited is a Mumbai-based bakery and patisserie chain with 17 stores. After acquiring Birdy’s Bakery from WAH Restaurants, it expanded through strategic investments. They offer a wide variety of cakes, pastries, foods, and beverages to cater to diverse tastes.

Grill Splendour Services aims to use IPO funds for additional working capital, debt repayment, and general corporate purposes including growth, strategic partnerships, marketing, and facility expansion to enhance financial stability and market presence.

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