The SME IPO of Grill Splendour Services will open for subscription on Monday, April 15, and will close on Thursday, April 18. The company aims to raise about Rs 16.47 crore through the SME IPO and list the shares on the NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.
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1) About Grill Splendour ServicesGrill Splendour is a chain of gourmet Bakery and Patisserie spread across Mumbai through 17 retail stores, a centralised production facility, and multiple corporate clients. Out of these 17 retail stores, 5 stores are running under the franchisee model (franchisee owned, and company-operated), and the rest 12 stores are owned by the company.
2) Industry OverviewIndia’s food service sector is one of the vibrantly growing segments that have witnessed noticeable growth in the past few years. The sector, including both organised and unorganized segments, stood at Rs 4,23,865 crore in 2018-19. The sector is expected to reach $79.65 billion by 2028, with a CAGR of 11.19%, according to the DRHP.
3) Grill Splendour Services IPO sizeThe IPO is entirely a fresh equity issue of 13.7 lakh shares and through the issue, the company aims to raise nearly Rs 16.5 crore.
4) Grill Splendour Services IPO price bandThe company is offering its shares at Rs 120 apiece, and investors can bid for 1200 shares in 1 lot.
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5) Grill Splendour Services IPO financial performanceFor the period ended November 2023, the company clocked revenues of Rs 9 crore and net profit of Rs 61 lakh.
6) Objects of the offerThe net proceeds from the public offer will be used for funding working capital requirements, repayment of debt, general corporate purposes, and public issue expenses.
7) Lead managers and RegistrarInventure Merchant Banker Services is acting as the lead manager to the issue and Bigshare Services is the registrar.
8) Issue structureAbout 50% of the offer is reserved for retail investors and the rest 50% for other investors.
9) Important datesThe IPO opens on April 15 and will close on April 18. The final allotment will likely be made on April 19. The company’s shares will likely get listed on April 23.
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10) Grill Splendour Services GMP Ahead of the issue opening, the company’s shares are trading with a GMP of Rs 8 in the unlisted market.
