Grill Splendour Services IPO: The initial public offering of Grill Splendour Services Ltd, which is going to be closed on April 18, has received a positive response from investors. Its price was fixed at Rs 120 per share. Till 10:34 am on the final day of bidding on Thursday, the Rs 16.47-crore SME IPO received 4.64 times subscription, garnering bids for 60,44,400 shares against 13,03,200 shares on offer.
The Grill Splendour Services IPO, or Girdy’s IPO, was opened for public subscription on April 15.
The retail quota received 7.79 times subscription, while the NII category got 1.49 times the subscription.
The Grill Splendour Services IPO’s share allotment will take place on April 19, while the shares will be listed on NSE SME on April 23.
Grill Splendour Services IPO GMP Today
According to market observers, unlisted shares of Grill Splendour Services Ltd are trading Rs 8 higher in the grey market as compared with its issue price. The Rs 8 grey market premium or GMP means the grey market is expecting a 6.67 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Grill Splendour Services IPO Details
Grill Splendour Services IPO, which is a fixed price issue of Rs 16.47 crore, is entirely a fresh issue of 13.73 lakh shares.
Birdy’s IPO price is Rs 120 per share. The minimum lot size for an application is 1,200 shares. The minimum amount of investment required by retail investors is Rs 1,44,000. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to Rs 2,88,000.
Inventure Merchant Banker Services Pvt Ltd is the book-running lead manager of the Birdy’s IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Birdy’s IPO is Rikhav Securities.
Grill Splendour Services Limited, which was established in November 2019, is a chain of gourmet bakeries and patisseries in Mumbai with 17 retail outlets, a central manufacturing facility, and several corporate clients operating under the brand name Birdy’s.
Its revenue rose 32.92 per cent and profit after tax (PAT) surged 5,654.34 per cent during the financial year 2022-23.
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