Grill Splendour Services IPO: Issue fully booked on day 1 led by retail investors; check GMP, subscription status, more
₹120 per share, with a face value of ₹10. 1,200 shares make up the IPO lot size for Grill Splendour Services Ltd. According to the prospectus, the company is a chain of upscale bakeries and patisserie with 17 retail locations, a centralised manufacturing plant, and a number of corporate clients.
The chain has locations all throughout Mumbai. Twelve of these 17 retail sites are under their ownership, and five of them are run under the franchisee model (owned by the franchisee and run as a company). In November 2019, Grill Splendour Services Private Ltd.
was founded as a hospitality company to acquire the bakery and confectionery business from WAH Restaurants Private Limited along with the trademark Birdy's Bakery and Patisserie. Birdy's was first opened as "Birdy’s by Taj." It was first sold to WAH Restaurants Private Limited, and then the firm bought it from them in accordance with the conditions of the acquisition agreement that was previously specified. The company's primary objective has been to restore the brand's quality and shine.
Grill Splendour IPO subscription status is 1.56 times, on day 1, so far. The retail portion has been subscribed 2.77 times, and NII portion has been booked 34%. The company has received bids for 20,31,600 shares against 13,03,200 shares on offer, at 15:53 IST, according to data on chittorgarh.com.
About ₹16.47 crore is the total worth of the Grill Splendour Services IPO, which comprises of a new issue of 1,372,800 equity shares with a face value of ₹10. There is no offer-for-sale component. The promoters of the firm are Srinidhi V.
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