Grill Splendour Services Limited (NSE SME)
Apr 15, 2024 - Apr 18, 2024
| Price | ₹120 - ₹120 |
| Premium | ₹8 |
|---|---|
| Lot size | 1200 |
| Allotment | Apr 19, 2024 |
| Listing | Apr 23, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 1200 | 144000 | 543 |
| HNI | 2 | 2400 | 288000 | 543 |
Last updated on 18-Apr-2024 17:00:03
| Category | Offered | Applied | Times |
|---|---|---|---|
| NIB | 651600 | 3058800 | 4.69 |
| RETAIL | 651600 | 8325600 | 12.78 |
| Total | 1303200 | 11384400 | 8.74 |
| Retail Apps | 6938 | © IPO Premium | |
| HNI Interest Cost Per Share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹0.76 | @8% ₹0.86 | @9% ₹0.97 | @10% ₹1.08 | @11% ₹1.19 | @12% ₹1.3 |
IPO Reservation
| Investor Category | Shares Offered | No. of Shares |
|---|---|---|
| Retail | 47.5% | 651600 |
| Other | 47.5% | 651600 |
| Market Maker | 5.07% | 69600 |
| Total No. of Shares | 100.0% | 1372800 |
Since its establishment in November 2019, Grill Splendour Services Limited has emerged as a distinguished chain of gourmet bakeries and patisseries, enriching Mumbai's culinary landscape with its 17 upscale retail outlets and a centralized production facility. The strategic acquisition of Birdy's Bakery and Patisserie from WAH Restaurants Private Limited further solidified its foothold in the hospitality industry, reflecting its commitment to expansion and excellence. Offering a diverse product portfolio that encompasses delectable cakes, pastries, desserts, and beverages, Grill Splendour caters to the discerning tastes of its clientele, which includes both individual customers and corporate clients. The company's logistical operations are finely tuned, with a fleet of four vehicles ensuring timely delivery, all fueled by locally sourced petrol. With a dedicated workforce of 77 professionals across various departments, Grill Splendour Services Limited continues to uphold its reputation for culinary innovation, quality, and exceptional service as it forges ahead in the competitive market of Mumbai's gourmet scene.
Grill Splendour Services IPO Details
| Issue Size | 1,372,800 shares (aggregating up to ₹16.47 Cr) |
| Fresh Issue | 1,372,800 shares (aggregating up to ₹16.47 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 3,835,400 |
| Share holding post issue | 5,208,200 |
| Market Maker portion | 69,600 shares Rikhav Securities |
Key Performance Indicator
| KPI | Nov-23 | Mar-23 |
|---|---|---|
| RONW | 12.46% | 99.16% |
| EPS (basic & Diluted) | 1.61 | 13.19 |
| D/E | 1.5 | |
| P/BV | 9.3 | |
| P/E (pre IPO) | 23.12 |
Company Financials
Grill Splendour Services Limited Financial Information (Restated)
Grill Splendour Services Limited's revenue increased by 32.92% and profit after tax (PAT) rose by 5654.34% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period | 30 Nov 2023 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|
| Assets | 2,211.54 | 764.02 | 290.59 | 265.98 |
| Revenue | 885.64 | 1,531.62 | 1,152.27 | 825.22 |
| Profit | 61.65 | 199.10 | 3.46 | -3.63 |
| Net Worth | 494.98 | 200.79 | 1.69 | -1.77 |
| Reserves | 111.44 | 199.79 | 0.69 | -2.77 |
| Amount in ₹ Lakhs | ||||
Strength Factors
Strong Brand Recognition: Grill Splendour Services Limited has cultivated a robust brand image within the Mumbai region, characterized by its commitment to culinary excellence, premium quality products, and exceptional service. The company's brand is synonymous with indulgence, luxury, and superior taste, attracting a loyal customer base and setting it apart from competitors.
Chain of Stores Spread Across Mumbai Region: With 17 retail stores strategically located across Mumbai, Grill Splendour enjoys extensive market penetration and visibility. This widespread presence not only increases accessibility for customers but also reinforces the company's brand presence and enhances its competitive advantage in the region.
Strong B2B Customer Relationships: Grill Splendour has fostered robust relationships with multiple corporate clients, leveraging its reputation for quality and reliability. These B2B partnerships not only contribute to the company's revenue stream but also provide opportunities for expansion and collaboration within the hospitality industry. By catering to the specific needs and preferences of corporate clients, Grill Splendour strengthens its market position and secures long-term business relationships.
Risk Factors
High Working Capital Requirements: Grill Splendour Services Limited faces the risk of high working capital requirements in its B2B operations. Due to the nature of the business, which involves producing perishable goods and managing a chain of stores, significant capital is tied up in inventory, receivables, and operational expenses. Inability to maintain an optimal level of working capital could lead to liquidity issues, affecting the company's ability to meet its financial obligations and impacting operations adversely.
Dependency on Limited Number of Vendors: The Company’s reliance on a limited number of vendors for sourcing raw materials poses a significant risk. Any disruption in the supply chain due to vendor issues such as quality concerns, delivery delays, or sudden changes in pricing could adversely affect production schedules and product quality. Diversifying the vendor base or implementing contingency plans to mitigate supply chain risks is essential to safeguard against potential disruptions.
Geographic Concentration: Grill Splendour's business operations are concentrated in the Mumbai region of Maharashtra. This geographic concentration exposes the company to risks associated with local market conditions, regulatory changes, natural disasters, or other unforeseen events specific to the area. Any loss or shutdown of operations at one of its facilities in Mumbai could disrupt the supply chain, impact customer service, and have adverse effects on overall business operations and financial performance. Diversification strategies or contingency plans to mitigate geographic risks may be necessary to ensure business continuity and resilience.
Grill Splendour Services IPO Lead Manager(s)
- Inventure Merchant Banker Services Pvt Ltd
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html