Grill Splendour Services Ltd IPO: Issue Details, Open/Close Date | Research 360 by Motilal Oswal
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Grill Splendour

CMP

66.05

-2.15 (-3.15%)

  • DRHP
₹120

Offer Price

₹ 16.47 Cr

Issue Size

₹ 1,44,000

Min Investment

1,200

Lot size

Time Line

  • 15
    Apr 2024
    Open
  • 18
    Apr 2024
    Close
  • 19
    Apr 2024
    Finalisation of Basis of Allotment
  • 22
    Apr 2024
    Initiation of Refunds
  • 22
    Apr 2024
    Transfer of Shares to Demat Account
  • 23
    Apr 2024
    Listing Date

Objects of the Offer

  • Dual Business Model.

  • Multiple Brands.

  • Leveraging its existing business / infrastructure.

  • Supply to Institutional clients and Corporates.

  • Migration to Experience Stores.

Products & Services

  • Grill Splendour Services Limited is a chain of gourmet Bakery and Patisserie spread across Mumbai through 17 retail stores, a centralized production facility and multiple corporate clients.

Strengths

  • Strong Brand recognition.

  • Chain of Stores spread across Mumbai region.

  • Experienced Promoter and management team with strong industry expertise.

  • Strong B2B customer relationships.

Risks

  • 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.

Company Promoters

Promoters Holding

Issue For IPO
13.11%
Pre Holding

49.75%

Post Holding

36.64%

Top Promoters Holding

Financials

All values in Cr

Mar-2022 Mar-2023 Mar-2023 3-Yr trend
Revenue 11.50 (39.40%) 15.29 (33.00%) 99.16 (-)
Gross Profit 11.50 (39.40%) 15.29 (33.00%) 99.16 (-)
Net Income 11.50 (39.40%) 15.29 (33.00%) 99.16 (-)
Assets 11.50 (39.40%) 15.29 (33.00%) 99.16 (-)
Liabilities 11.50 (39.40%) 15.29 (33.00%) 99.16 (-)

Peers

Company Name Revenue (Cr) Net Profit (Cr) Assets (Cr) Liabilities (Cr) ROE EPS BVPS Current Ratio Debt to Assets
Grill Splendour Services Ltd 15.29 1.99 5.27 3.26 99.16 0.00 2,007.90 1.41 0.57
Westlife Foodworld Ltd 2,278.18 111.58 2,098.91 2,098.91 19.71 7.16 36.29 5.31 0.37
Sapphire Foods India Ltd 2,265.57 233.36 2,594.05 2,594.05 18.58 36.29 197.33 8.99 0.04
Jubilant Foodworks Ltd 5,158.25 353.20 5,382.13 5,382.13 17.33 5.35 30.88 6.56 0.09

Book Running Managers

  • Inventure Merchant Banker Services Pvt Ltd

Registrar & Transfer Agent

Bigshare Services Pvt Ltd

Office No 56-2,
Pinnacle Busine.Park,
Mahakali Caves Road - Mumbai - 400093
Phone : 91-22-62638200 Fax: 91-22-63638299

Company Contact Information

J1 S.S.Vinayak Pre-CoopSoc Ltd,
C-105 1Flr Plot 8 Antop Hill,
Mumbai - 400037
Phone : +91 22 5002 9517 Email : ipo@birdys.in www.birdys.in

Offer Related Information

Initial public offering of up to 13,72,800 equity shares of Rs. 10 each ("Equity Shares") of Grill Splendour Services Limited ("GSSL" or the "Company") for cash at a price of Rs. 120 per equity share (the "Offer Price"), aggregating to Rs. 16.47 crores ("The Offer"). of the offer, 69,600 equity shares aggregating to Rs. 0.84 crores will be reserved for subscription by market maker ("Market Maker Reservation Portion"). The offer less the market maker reservation portion i.e. offer of 13,03,200... More

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