Grill Splendour

Dual Business Model.

Multiple Brands.

Leveraging its existing business / infrastructure.

Supply to Institutional clients and Corporates.

Migration to Experience Stores.

Inorganic Growth.

If the company is unable to implement its growth strategy successfully including in relation to selecting cities and locations for its new stores / restaurants the company results of operations and financial condition may be adversely affected.

The company has not entered into long-term contracts with its customers and typically operate on the basis of purchase orders from its walk-in customers, any loss of customers could adversely impact its revenues and profitability.

Deterioration in the performance of, or its relationships with, third-party delivery aggregators, may adversely affect its business, results of operations and financial condition.

Its B2B operations are subject to high working capital requirements. The company`s inability to maintain an optimal level of working capital required for its business may impact the company operations adversely.

Its Promoters and Directors, Srinidhi V Rao, Vandana Srinidhi Rao and Vivek Vijaykumar Sood plays key role in its functioning and the company heavily relies on his knowledge and experience in operating its business and therefore, it is critical for the company`s business that its Promoter remain associated with the company. Its success also depends on its key managerial personnel and its ability to attract and retain them. Any loss of the company key person could adversely affect its business, operations and financial condition.

Substantial portion of its purchases raw materials has been dependent upon limited number of vendors.

Its business requires the company to obtain and renew certain registrations, licenses and permits from government and regulatory authorities and the failure to obtain and renew them in a timely manner may adversely affect its business operations.

Because the company operates in a highly competitive industry, its revenues, profits or market share could be harmed if the company is unable to compete effectively.

Employee misconduct, errors or fraud could expose it to business risks or losses that could adversely affect its business prospects, results of operations and financial condition.

Negative publicity with respect to its services in the public domain or in the industry in which the company operates could adversely affect its business, financial condition and results of operations.

Operational risks are inherent in its business as it includes rendering products and services at high quality standards. A failure to manage such risks could have an adverse impact on its business, results of operations and financial condition.

Its business may be affected by seasonality.

The company`s business is geographically located in one area, Mumbai, Maharashtra. Any loss or shutdown of operations at any of its facilities in this area may have an adverse effect on the company`s business and results of operations.

The Company had negative cash flow from operating activity in recent fiscals, details of which are given below.

Its financing agreements contain covenants that limit the company flexibility in operating its business. The company inability to meet its obligations, including financial and other covenants under its debt financing arrangements could adversely affect the company`s business, results of operations and financial condition.

The company has not made any alternate arrangements for meeting its capital requirements for the Objects of the Offer. Further the company has not identified any alternate source of financing the `Objects of the Offer`. Any shortfall in raising / meeting the same could adversely affect its growth plans, operations, and financial performance.

The company does not own its Registered Office and corporate office from which the company operates.

Its results of operations are likely to vary from year to year and be unpredictable, which could cause the market price of the Equity Shares to be volatile.

The company has in the past entered into related party transactions and may continue to do so in the future, which may potentially involve conflicts of interest with the equity shareholders.

The company has selected the Companies from the food services sector for "Peer Competitors - Comparison of Accounting Ratios" in Basis for Offer Price section, most of these listed Companies are very large compared to it and may have product portfolio larger than its.

Any variation in the utilization of the Net Proceeds as disclosed in this Prospectus shall be subject to certain compliance requirements, including prior Shareholders` approval.

Its funding requirements and deployment of the Offer Proceeds are based on management estimates and have not been independently appraised by any bank or financial institution.

The Company`s management will have flexibility in utilizing the Net Proceeds. There is no monitoring agency appointed by the Company and the deployment of funds is at the discretion of its Management and the company Board of Directors, though it shall be monitored by its Audit Committee.

The company Company has availed certain unsecured loans that are recallable by the lenders at any time.

The company has not made any dividend payments in the past and its ability to pay dividends in the future will depends upon future earnings, financial condition, cash flows, working capital requirements, capital expenditures and restrictive covenants in its financing arrangements.

Its Promoters and members of the Promoter Group will continue to jointly retain majority control over the Company after the Issue, which will allow them to determine the outcome of matters submitted to shareholders for approval.

Its Promoter and members of Promoter Group have mortgaged their personal properties and provided personal guarantees for its borrowings to secure its loans. The companay`s business, financial condition, results of operations, cash flows and prospects may be adversely affected by the revocation of all or any of the personal guarantees provided by its Promoter and members of Promoter Group in connection with the Company`s borrowings.

There have been several instances of delay in payment of EPF dues by the Company in the past.

The recent outbreak of the novel coronavirus or such other pandemics could have a significant effect on its results of operations, and could negatively impact the company`s business, revenues, financial condition, and results of operations.

Its insurance coverage may not adequately protect the company against all material hazards and the policies do not cover all risks. In the event of the occurrence of such events, its insurance coverage may not adequately protect it against possible risk of loss.

The requirements of being a listed company may strain its resources.