Grill Splendour Services IPO opened for subscription today and all reports and statistics are positive so far. In fact, even the Grill Splendour IPO GMP is in positive territory, being quoted at +8, indicating the chances of a positive listing. That suggests, according to analysts, its shares may list at ₹128. Considering that today was not such a great day for stock markets in general, this performance did catch the eye.
So, if you are interested in investing in this initial public offer, you need to know what the exact situation is.
Notably, Grill Splendour Services IPO subscription started today (April 15) and the last day is Thursday (April 18). The Grill Splendour IPO price band was set at ₹120 per share and the face value is ₹10. Grill Splendour Services IPO lot size is 1,200 shares.
Grill Splendour IPO subscription status: Day 1
Grill Splendour IPO subscription status has already crossed the 2x mark and was at 2.13x, so far. Notably, the retail quota was swamped having been subscribed 3.88 times. NII portion was much more subdued, having reached just 37% subscription mark today. chittorgarh.com data shows that bids have been received for 27,74,400 shares against 13,03,200 shares on offer (5:09p.m.).
Among other things, the funds are expected to be used to pay off outstanding debt.
What is Grill Splendour about?
This is a chain of premium bakeries and patisserie having as many as 17 retail locations all around Mumbai of which 12 are company-owned. It has a number of corporate clients. It also has a centralised manufacturing plant.
Grill Splendour Services, founded as a hospitality company, acquired the bakery and confectionery business from WAH Restaurants as well as the trademark Birdy’s Bakery and Patisserie.
About the IPO
Worth: ₹16.47 crore
New issue: 1,372,800 equity shares
Face value: ₹10.
Promoters of the firm: Srinidhi V. Rao, Vandana Srinidhi Rao, and Vivek Vijaykumar Sood.
