Grill Splendour Services Ltd

Grill Splendour Services Limited is a chain of gourmet Bakery and Patisserie spread across Mumbai through 17 retail stores, a centralized production facility and multiple corporate clients. Out of these 17 retail stores, 5 stores are running under the franchisee model (franchisee owned, and company operated) and rest 12 stores are owned by the company. The Company offers fresh food products from traditional to `made to order' as required by the Customers. Both its Promoters individually have 30+ years of experience in the Hospitality industry. Grill Splendor Services Private Ltd. was incorporated in November 2019 as a hospitality company to acquire the bakery and confectionary business along with brand Birdy's Bakery and Patisserie from WAH Restaurants Private Limited. The acquisition was done via a Business Transfer and Intellectual Property Assignment Agreement dated December 27, 2019 (Acquisition Agreement). After that the company proceeded to invest in the business and grow the brand and spread its presence. The brand Birdy's was originally set up as Birdy's by Taj. Over a period, it was sold to WAH Restaurants Private Limited and from them the same was acquired by the company vide above referred Acquisition Agreement. The primary focus of the Company was to bring back the quality and sheen of the brand. The Company did that over a period of the last few years by a series of initiatives. The Company is engaged in the sale of following broad categories of products: Cakes & Pastries. Food Sale. Beverages. Desert Sales.

Open Demat Account

50years

Grill Splendour Services Ltd IPO Details

Details

Total Shares OfferedOffer to PublicRetail Max (Shares)Pre Issue Promoters HoldingExchangeIssue size
13.73 LTBA6.52 L19.08 LNSETBA
IPO Open DateClose DateLot SizeMin InvestmentIssue TypeListing Date
15 Apr, 2418 Apr, 241200 TBA Fixed Price - SME23 Apr, 24

Grill Splendour Services Ltd IPO Details

Grill Splendour Services Ltd IPO Dates

  • 15 Apr 2024

    Opening date

  • 18 Apr 2024

    Closing date

  • 19 Apr 2024

    Basis of
    Allotment

  • 22 Apr 2024

    Initiation of
    Refunds

  • 22 Apr 2024

    Credit of
    Shares

  • 23 Apr 2024

    Listing date

Details

SectorType
SectorHotels
Sub SectorNA
Issue TypeFixed Price - SME

Subscription Status

*Values are in Lakhs

Investor TypeSubscription Times
QIB0x
NII0x
Retail0x
Employee0x
Total0x

Subscription Status

Investor Type

QIB

NII

Retail

Employee

Total

*Values are in Lakhs

Grill Splendour Services Ltd Financial Status

Income Statement

Balance Sheet

Particulars (in Rs. Crores)FY23FY22FY21
Revenue from operations2.680.160.03
EBITDA2.840.280.09
PAT1.990.03-0.04
Total Assets3.331.281.30
Share Capital0.010.010.01
Total Borrowings3.082.001.48
Operating Activities (Net Cash)2.150.150.02
Investing Activities (Net Cash)0.000.000.00
Financing Activities (Net Cash)3.082.001.48
Net Cashflow0.990.080.07

Particulars (in Rs. Crores)

Revenue from operations

EBITDA

PAT

Total Assets

Share Capital

Total Borrowings

Operating Activities (Net Cash)

Investing Activities (Net Cash)

Financing Activities (Net Cash)

Net Cashflow

About Grill Splendour Services Ltd

Grill Splendour Services Limited was incorporated as Grill Splendour Services Private Limited on November 29, 2019 under the Companies Act, 2013 with the Registrar of Companies, Central Registration Centre bearing Registration number 333814. The status of the Company was changed to public limited and the name of the Company was changed to Grill Splendour Services Limited vide Special Resolution dated August 14, 2023 pursuant to conversion of the Company into public limited Company. The fresh certificate of incorporation consequent to conversion was issued on September 06, 2023 by the Registrar of Companies, Mumbai. The Corporate Identification Number of the Company is U55100MH2019PLC333814.

India's food service sector is one of the vibrantly growing segments which has witnessed noticeable growth in past few years. The sector, including both organised and unorganized segments, stands at Rs. 4,23,865 crores in 2018-19. The sector is expected to reach to US$ 79.65 billion by 2028, with a CAGR of 11.19%. Factors accelerating the progress of the food services sector include changing demographics, increase in disposable income, growing urbanization, increasing internet penetration and proliferation of online services. Also, young affluent couples with penchant for eating out are adding to the growth further. Following are the major factors contributing to the growth of the sector: -Increase in the size of the population between age group 15-64 years of age. -Increasing urbanization. -Growing travel and tourism. -Increasing number of Indian brands going global. -Restaurants and food joints are increasingly becoming preferred location for socializing during weekdays and weekends. Players generate close to 58% of their revenue during weekdays and balance during weekends. There has been explosion in terms of experimentation with the formats, menus and themes leading to lot of entrepreneurs venturing in this segment. Restaurants are offering value for money combo meal offers to their customers leading to larger section of population afford eating out more often. Explosion of internet users and increased internet penetration and increased usage of apps including plethora of food ordering and delivery service apps will lead to increase spend on outside food. MARKET SIZE According to a report, the market for food services in India is predicted to increase from US$ 41.1 billion in 2022 to US$ 79.65 billion by 2028, with a CAGR of 11.19%. According to the Food Service and Restaurant Business Report 2022-23 by Francorp and restaurantindia.in, the industry is predicted to employ 1 crore people by 2025, despite losing over 20 lakh jobs at the height of the COVID-19 pandemic. The country's restaurant and food service market is split into two segments, with the unorganised segment holding the lion's share of the market, according to the report, which also noted that the organised sector expanded rapidly between 2014 and 2020. The market for quick service restaurants (QSRs) in the country is predicted to be worth US$ 690.21 million in 2022 and US$ 1069.3 million in 2027, rising at a CAGR of 9.15%, according to the report's additional findings. The QSR chain market is anticipated to increase at a CAGR of 23% over the course of FY20-25, making it the fastestgrowing sub-segment overall in the food service industry.

Peer Comparison:

  • Grill Splendour Services Ltd
  • Westlife Foodworld Ltd
  • Sapphire Foods India Ltd
  • Jubilant Foodworks Ltd

Grill Splendour Services Ltd IPO Key Points

Strengths

  • Strong Brand recognition.
  • Chain of Stores spread across Mumbai region.
  • Experienced Promoter and management team with strong industry expertise.
  • Strong B2B customer relationships.

Risk

  • If the company is unable to implement its growth strategy successfully including in relation to selecting cities and locations for its new stores / restaurants the company results of operations and financial condition may be adversely affected.
  • The company has not entered into long-term contracts with its customers and typically operate on the basis of purchase orders from its walk-in customers, any loss of customers could adversely impact its revenues and profitability.
  • Deterioration in the performance of, or its relationships with, third-party delivery aggregators, may adversely affect its business, results of operations and financial condition.

Strategy

  • Dual Business Model.
  • Multiple Brands.
  • Leveraging its existing business / infrastructure.
  • Supply to Institutional clients and Corporates.
  • Migration to Experience Stores.

Grill Splendour Services Ltd IPO Key Points

  • Strong Brand recognition.
  • Chain of Stores spread across Mumbai region.
  • Experienced Promoter and management team with strong industry expertise.
  • Strong B2B customer relationships.
  • If the company is unable to implement its growth strategy successfully including in relation to selecting cities and locations for its new stores / restaurants the company results of operations and financial condition may be adversely affected.
  • The company has not entered into long-term contracts with its customers and typically operate on the basis of purchase orders from its walk-in customers, any loss of customers could adversely impact its revenues and profitability.
  • Deterioration in the performance of, or its relationships with, third-party delivery aggregators, may adversely affect its business, results of operations and financial condition.
  • Dual Business Model.
  • Multiple Brands.
  • Leveraging its existing business / infrastructure.
  • Supply to Institutional clients and Corporates.
  • Migration to Experience Stores.

How To Apply for Grill Splendour Services Ltd Online?

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Step 2:

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Step 3:

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Step 4:

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Step 5:

Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.

Get your FAQs right

Grill Splendour Services Ltd's IPO offers shares for up to ₹ 0 L It begins on Apr 15, 2024 and ends on Apr 18, 2024.

The price of Grill Splendour Services Ltd IPO ranges between ₹0 to ₹0 per share.

The Grill Splendour Services Ltd IPO opens on Apr 15, 2024 and closes on Apr 18, 2024.

The allotment for the Grill Splendour Services Ltd IPO will be finalised on Apr 19, 2024. The shares will be listed on BSE and NSE on Apr 23, 2024.

The minimum lot size for Grill Splendour Services Ltd IPO is 1200 shares, priced between ₹0 to ₹0 per share.

The GMP (Grey Market Premium) of Grill Splendour Services Ltd IPO fluctuates based on market demand and sentiment.

To check the allotment status of Grill Splendour Services Ltd IPO, visit the registrar's website, select the IPO, enter your PAN Card number, Application Number, or DP Client ID, and click 'search.'

The Grill Splendour Services Ltd IPO is getting listed on the BSE and NSE. Bidding opens on Apr 15, 2024, and closes on Apr 18, 2024. The allotment is finalised on Apr 19, 2024.

To apply for the Grill Splendour Services Ltd IPO, download the BlinkX app, complete KYC, select the IPO, enter bid details, and submit. Verify UPI payment for shares allotment.