Grill Splendor Services IPO opening: everything you need to know before subscribing

Grill Splendor Services IPO: Grill Splendor Services’ SMB initial public offering opens for subscription today (April 15). The issuance will close on April 18th and the company intends to raise around $$16.47 crore through SME IPO. The company will also list the shares on the NSE SME platform.

Grill Splendor Services IPO: important dates

The IPO opens on April 15 and ends on April 18, while the final share allotment is likely to be made on April 19 and the company’s shares are likely to be listed on April 23.

Grill Splendor Services IPO: size and price range

The IPO is an entirely new equity issue of 13.7 lakh shares through which the company intends to raise nearly $$16.5 million. The shares are being offered in $$120 each and investors can bid 1,200 shares in one lot.

Grill Splendor Services IPO: Issue Structure

Around 50% of the offering is reserved for retail investors and the remaining 50% for other investors in the IPO.

Grill Splendor Services IPO: Lead Registrars and Managers

Inventure Merchant Banker Services is acting as lead manager for the IPO and Bigshare Services is the registrar for the issuance.

Grill Splendor Services IPO: GMP today

Prior to the open, the company’s shares are trading with a GMP of $$8 on the unlisted market.

Grill Splendor Services IPO: IPO Objectives

The net proceeds from the IPO will be used to finance working capital needs, debt repayment, general corporate purposes and public issue expenses, the company said.

Grill Splendor Services IPO: Company Details

The company is a chain of gourmet bakeries and confectioneries spread across Mumbai and has 17 retail stores, a centralized production unit and several corporate clients. Of the 17 retail stores, 5 operate under the franchised model and the remaining 12 stores are owned by the company. The company recorded revenue from $$9 crore and net profit of $$61 lakh for the period ending November 2023.