Grill Splendour Services Limited IPO: Price band set at ₹120 apiece; check GMP, issue details, more

livemint.com:

₹120 apiece of face value of ₹10 each. Grill Splendour Services IPO will commence subscription from Monday, April 15, and end on Thursday, April 18. Grill Splendour Services Ltd IPO lot size consists of 1,200 shares.

The issue price of ₹120 is 12.00 times of the face value. The firm is a chain of gourmet bakeries and patisserie with 17 retail locations, a centralised manufacturing facility, and several corporate clients, according to the prospectus. The chain is distributed throughout Mumbai.

Of these 17 retail locations, 12 are owned by them, and 5 are operated under the franchisee model (franchisee owned and business operated). In order to purchase the bakery and confectionery business from WAH Restaurants Private Limited as well as the brand Birdy's Bakery and Patisserie, Grill Splendour Services Private Ltd. was established as a hospitality company in November 2019.

Also Read: Bharti Hexacom IPO shares to list on Friday; here's what latest GMP signals ahead of listing Initially, Birdy's was established as "Birdy’s by Taj." After being sold to WAH Restaurants Private Limited for a while, the company purchased it from them under the terms of the previously mentioned acquisition agreement. Regaining the brand's quality and sheen has been the company's main goal. As per the prospectus, the company's listed peers are Westlife Foodworld (with a P/E of 112.36), Sapphire Foods (with a P/E of 42.77), and Jubilant Foodworks (with a P/E of 83.80).