Grill Splendor Services’ IPO opens on Monday. Everything you need to know before signing

Grill Splendor Services’ SME IPO will open for subscription on Monday, April 15th and close on Thursday, April 18th. The company aims to raise around Rs 16.47 crore through the SME IPO and list the shares on the NSE SME platform. Here are 10 important things investors need to know about the public offering before subscribing to the issue.

1) About Grill Splendor services
Grill Splendor is a chain of gourmet bakeries and patisseries spread across Mumbai through 17 retail stores, a centralized production unit and several corporate clients. Of these 17 retail stores, 5 stores operate under the franchisee model (owned by the franchisee and operated by the company), and the remaining 12 stores are company-owned.

2) Industry Overview
India’s food services sector is one of the vibrantly growing segments that has witnessed remarkable growth in recent years. The sector, including organized and unorganized segments, stood at Rs 4,23,865 crore in 2018-19. The sector is expected to reach US$79.65 billion by 2028, at a CAGR of 11.19%, according to DRHP.

3) Grill Splendor Services IPO Size
The IPO is entirely a new share issue of 13.7 lakh shares and through the issue, the company aims to raise nearly Rs 16.5 crore.

4) Grill Splendor Services IPO Price Range
The company is offering its shares at Rs 120 each, and investors can bid 1,200 shares in 1 lot.

5) Grill Splendor Services IPO financial performance
For the period ending November 2023, the company reported revenue of Rs 9 crore and net profit of Rs 61 lakh. Also read: IPO calendar: 2 new issues, 2 listings on investors’ radar for next week6) Objects of the offer
The net proceeds from the public offering will be used to finance working capital needs, debt repayment, general corporate purposes and public issue expenses.

7) Lead Managers and Registrars
Inventure Merchant Banker Services is acting as lead manager for the matter and Bigshare Services is the registrar.

8) Problem structure
Around 50% of the offer is reserved for retail investors and the remaining 50% for other investors.

9) Important dates
The IPO opens on April 15th and will close on April 18th. The final distribution will likely be made on April 19th. The company’s shares will likely be listed on April 23.

10) Grill Splendor GMP Services
Ahead of the opening of the issue, the company’s shares are trading at a GMP of Rs 8 in the unlisted market.