Grill Splendor IPO Day 1: GMP, subscription status and more, check now

Grill Splendor Services’ IPO opened for subscription today and all reports and statistics are positive so far. In fact, even the Grill Splendor IPO’s GMP is in positive territory, being priced at +8, indicating positive listing chances. This suggests, according to analysts, that its shares could be priced at $$128. Considering that today was not such a good day for stock markets in general, this performance caught the eye.

So, if you are interested in investing in this initial public offering, you need to know what the exact situation is.

Notably, the IPO subscription for Grill Splendor Services began today (April 15) and the last day is Thursday (April 18). Grill Splendor’s IPO price range has been set at $$120 per share and the nominal value is $$10. Grill Splendor Services IPO lot size is 1,200 shares.

Grill Splendor IPO Subscription Status: Day 1

Grill Splendor’s IPO subscription status has already crossed the 2x mark and was at 2.13x, until now. Notably, the retail quota was flooded, having been subscribed 3.88 times. The NII portion was much more moderate, having only reached the 37% subscription mark today. Data from chittorgarh.com shows that offers were received for 27,74,400 shares against 13,03,200 shares on offer (5:09 pm).

Among other things, the funds are expected to be used to pay off outstanding debts.

What is Grill Splendor about?

This is a chain of premium bakeries and cake shops with up to 17 retail locations across Mumbai, of which 12 are company-owned. It has several corporate clients. It also has a centralized factory.

Grill Splendor Services, founded as a hospitality company, has acquired the baking and pastry business of WAH Restaurants, as well as the Birdy’s Bakery and Patisserie brand.

About the IPO

Value: $$16.47 million

New issue: 1,372,800 capital shares

Nominal value: $$10.

Company Promoters: Srinidhi V. Rao, Vandana Srinidhi Rao and Vivek Vijaykumar Sood.