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Grill Splendour Services IPO
Price Band
₹
Issue Size
₹16.47 Cr
Lot Size
1,200 shares
Min Investment
₹144,000
GMP
+₹8.0 (6.67%)
Issue Price
₹120.0
Subject to Sauda
₹7300
Paid only if allotted
Grill Splendour Services IPO AI Summary
- Grill Splendour Services IPO is listed on NSE SME in the Restaurants sector.
- Subscription window: 15 Apr–18 Apr 2024, listing on 23 Apr 2024.
- Current GMP is +₹8.0 (6.67%) — unofficial and can change daily.
Grill Splendour Services Limited is a Mumbai-based gourmet bakery and patisserie chain planning to raise funds through its IPO. The company has shown growth in total income and profit over the past years, although recent figures indicate a decrease in income. The IPO opens on April 15, 2024, with a lot size of 1200 shares and a minimum investment requirement of ₹144,000.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Grill Splendour Services IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 18 Apr 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Grill Splendour Services IPO Grey Market Premium (GMP) Today
GMP
+₹8.0
GMP %
+6.67%
Est. Listing
₹128.0
Updated: 25 Jul 2026 14:06
About the Company
Established in November 2019, Grill Splendour Services Limited is a chain of gourmet bakeries and patisseries in Mumbai with 17 retail outlets, a central manufacturing facility, and several corporate clients operating under the brand name Birdy's. Grill Splendour Services Private Ltd. acquired Birdy's Bakery and Patisserie from WAH Restaurants Private Limited in November 2019 to expand its reach in the hospitality industry. The company's product portfolio can be divided into the following areas Cakes and pastries Sale of food products Beverages Sale of desserts The company has 17 retail stores, 5 of which are operated under a franchise model (franchisee-owned, and company-operated), while the remaining 12 stores are owned by the company. As of February 29, 2024, the company employed 77 people in various departments.
Company Financials (₹ Cr)
As of 2023-11-30
| Period Ended | 30 Nov 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 22.12 | 7.64 | 2.91 | 2.66 |
| Total Income | 8.86 | 15.32 | 11.52 | 8.25 |
| Profit After Tax | 0.62 | 1.99 | 0.03 | -0.04 |
| NET Worth | 4.95 | 2.01 | 0.02 | -0.02 |
| Reserves and Surplus | 1.11 | 2.00 | 0.01 | -0.03 |
Key Ratios
EPS
₹5.19
NAV
₹12.91
RoNW
12.46%
P/B Value
9.30
P/E Ratio
23.12
Market Cap
₹62.50 Cr
PAT Margin
6.96%
Debt/Equity
1.50
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Jubilant Foodworks Ltd | 30.88 | 17.32% | 83.8 | 5.35 | 5.35 |
| Sapphire Foods India Limited | 197.33 | 18.6% | 42.77 | 36.7 | 36.7 |
| Westlife Foodworld Ltd | 36.29 | 19.72% | 112.36 | 7.16 | 7.16 |
| Grill Splendour Services Limited This IPO | 13.3 | 99.16% | 9.1 | 13.19 | 13.19 |
Promoters
Srinidhi V Rao, Vandana Srinidhi Rao and Vivek Vijaykumar Sood
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding additional Working capital requirements 1.00 2 Pre-payment/Repayment, in full or part, of certain outstanding borrowings availed by our Company; and 11.15 3 General Corporate Purposes 3.95
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹11.52 Cr in the year ended 31 Mar 2022, rising to ₹15.32 Cr by 31 Mar 2023. However, it decreased to ₹8.86 Cr by 30 Nov 2023, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax was ₹0.03 Cr in the year ended 31 Mar 2022, increasing to ₹1.99 Cr by 31 Mar 2023. It then decreased to ₹0.62 Cr by 30 Nov 2023, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
Grill Splendour Services Limited has an implied P/E of 9.1 at the issue price. This is priced at roughly 0.4 times trailing earnings, versus peers trading at P/E ratios ranging from 42.77 to 112.36.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an unofficial indicator of the likely listing price of an IPO. It reflects the demand and supply dynamics in the grey market, where shares are traded before they are listed on the stock exchange. A positive GMP suggests that the IPO is likely to list at a premium, while a negative GMP indicates the opposite.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy and risk tolerance. It's important to consider the company's growth potential and market position.
Who May Want to Wait
Investors who prefer stable, established companies with predictable earnings may want to avoid this IPO, as it operates in a competitive sector and has shown some fluctuations in revenue and profit.
IPO Timeline, Explained
The IPO opens on April 15, 2024, and closes on April 18, 2024. Allotment of shares will be done on April 19, 2024, and the listing date is set for April 23, 2024.
Listing Gains — The Risk
Listing gains can be unpredictable and depend on market conditions, investor sentiment, and the company's performance post-IPO. There is always a risk that the stock may not perform well on the listing day or in the days following.
This evaluation is generated from Grill Splendour Services's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Grill Splendour Services IPO GMP today?
Grill Splendour Services IPO GMP today is +₹8.0 (6.67%). GMP is an unofficial grey-market indicator and can change daily.
When does Grill Splendour Services IPO open and close?
Grill Splendour Services IPO opens on 15 April 2024 and closes on 18 April 2024.
When does Grill Splendour Services IPO list on the stock exchange?
Grill Splendour Services IPO listed on 23 April 2024 at ₹128.0.
What is the lot size for Grill Splendour Services IPO?
The lot size for Grill Splendour Services IPO is 1200 shares, requiring a minimum investment of ₹144,000.
What is the lot size for this IPO?
The lot size for Grill Splendour Services Limited's IPO is 1200 shares.
What is the minimum investment required?
The minimum investment required is ₹144,000.
What is the issue price of the shares?
The issue price is set at ₹120.0 per share.
When is the listing date?
The listing date is scheduled for April 23, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium or discount at which the shares may list on the stock exchange.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
15 Apr 2024
Close
18 Apr 2024
Allotment
19 Apr 2024
Listing
23 Apr 2024
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