Grill Splendour Services Limited IPO

About Grill Splendour Services Limited

Grill Splendour Services Limited is a network of gourmet bakery and patisserie stores scattered across Mumbai, boasting 17 retail outlets, a central kitchen, and serving numerous corporate clients. Among these stores, 5 operate under a franchise model while the company owns the remaining 12 outlets. They specialise in offering a wide array of fresh food items, ranging from traditional treats to customised delights tailored to customers' preferences.

With over 30 years of experience each, promoters bring a wealth of knowledge from the hospitality industry. The company came into existence in November 2019 with the aim of acquiring the bakery and confectionary business, including the renowned Birdy’s Bakery and Patisserie brand, from WAH Restaurants Private Limited. This acquisition, formalised through a Business Transfer and Intellectual Property Assignment Agreement in December 2019, marked the beginning of Grill Splendour Services' journey towards enhancing and expanding the brand's presence.

Originally known as "Birdy’s by Taj," the brand evolved through various ownerships before finding its place under Grill Splendour Services Limited. The company's core mission revolves around reviving the original quality and allure of the Birdy’s brand. Their product offerings span across four main categories: Cakes & Pastries, Food Sales, Beverages, and Desserts.

Since taking over Birdy's, more than half of the shops have been redone. Now they have seating, music, table service, free library access, and freshly made food and drinks. These cafes attract a new type of customer called "dine-in," which wasn't there before.

From the fiscal year 2023, the company has stepped into business-to-business sales. As of February 29, 2024, they had 77 employees.

Industry Outlook

1. The market for desserts and ice creams is expected to grow by 19% annually by 2022-23. This growth is fueled by the increasing demand from middle-class consumers and rising per capita income.
2. In India, the organised desserts and ice creams market was valued at approximately ₹ 4,121 crore in 2018-19. Standalone stores accounted for 53% of this market, totaling ₹ 2,188 crore, while chain stores contributed 47%, amounting to ₹ 1,933 crore.

Grill Splendour Services Limited IPO Details

Grill Splendour Services Limited IPO Dates

Grill Splendour Services Limited's IPO starts on Monday, April 15, and ends on Thursday, April 18. You can find it listed on NSE Emerge.

Grill Splendour Services Limited IPO Price Band

Grill Splendour Services Limited is a fixed price issue. The price band is set at Rs. 120 per share.

Grill Splendour Services Limited IPO Lot Size

The lot size for Grill Splendour Services Limited’s IPO is 1,200 shares with a minimum investment of ₹1,44,000.

Grill Splendour Services Limited IPO Objectives

The company plans to allocate the net proceeds from the issuance for the following purposes:

1. Covering extra working capital needs.
2. Paying off some or all of the loans the company has taken.
3. Covering general business expenses.

Peer Details

The following are the listed peers of Grill Splendour Services Limited:

1. Westlife Foodworld
2. Sapphire Foods
3. Jubilant Foodworks

How To Check the Allotment Status of the Grill Splendour Services Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

1. Log in to the Angel One app.
2. Go to the IPO Section and then to IPO Orders.
3. Select the individual IPO that you had applied for and check the allotment status.
4. Angel One will notify you of your IPO allotment status via push notification and email.

Contact Details of Grill Splendour Services Limited

Registered office: J1, Shram Siddhi Vinayak Premises Co-Op Soc Ltd C-105, 1st Floor, Plot - 8, Wadala Truck Terminal Road, Antop Hill, Mumbai - 400 037, Maharashtra, India

Phone: +91 22 5002 9517

E-mail: ipo@birdys.in