Grill Splendour IPO

Grill Splendour Services Ltd

₹1,44,000 /1200 sharesMinimum Investment

Grill Splendour IPO Listing Details

Listed OnIssue PriceListing PriceListing Gains
--₹120.00₹121.30₹1.30 (1.08%)

Grill Splendour IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
15 Apr ‘24 - 18 Apr ‘24₹1,44,0001,200₹120 - ₹120
Issue SizeIPO Doc
16.47Cr
RHP PDF

About Grill Splendour

Grill Splendour Services Private Ltd. operates a chain of gourmet Bakery and Patisserie outlets across Mumbai. It has 17 retail stores and a centralized production facility. With 5 franchisee-owned and company-operated stores and 12 owned by the company itself, they offer fresh food products, from traditional to made-to-order. Founded in November 2019, the company acquired the bakery and confectionary business, including the Birdy's Bakery and Patisserie brand, from WAH Restaurants Private Limited. They offer cakes & pastries, food, beverages, and desserts.;
Parent Organisation
Grill Splendour Services Ltd
Founded
2019
Managing Director
Mr. Srinidhi V Rao

Strengths & Risks

  • The company runs 17 retail stores across Mumbai and Thane, catering to individual customers and corporate clients. After acquiring the Birdy's brand, the company claims to have revamped more than half of its shops, offering features such as seating, music ambience, table service, and a free library, drawing in a fresh dine-in customer base.
  • As per the company, it has maintained good B2B client relationships to ensure repeat business over the years.
  • The company reported revenue from operations of Rs. 8.25 cr, Rs. 11.50 cr and Rs. 15.29 cr in FY 2021, 2022 and 2023 respectively. For 2022 the company’s Profit after tax was Rs. 0.03 cr and in 2023 it was Rs. 1.99 cr.
  • The company operates without long-term contracts with customers, relying instead on purchase orders from walk-in customers. Any loss of customers may significantly impact revenues and profitability.
  • The company's B2B operations entail significant working capital needs. Inability to sustain an optimal working capital level could adversely affect its operations.
  • A significant portion of the company's raw material purchases relies on a limited number of vendors, with whom it has has not established service agreements For the periods ending November 30, 2023, March 31, 2023, and March 31, 2022, purchases from the top 10 vendors comprised 26.07%, 54.78%, and 59.69% respectively, of the total purchases.
  • The company's entire business operations are concentrated in Mumbai, Maharashtra. This geographical concentration exposes it to various risks inherent in the Mumbai region.
  • The company has obtained certain unsecured loans that lenders can recall at any time.

Financials

*All values are in Rs. Cr
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Application details

Apply asPrice bandApply upto
Regular120 - 120₹2 Lakh
High Networth Individual120 - 120₹2 - 5 Lakh
For Grill Splendour IPO, eligible investors can apply as Regular.
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