Grill Splendour Services Limited IPO

Established in November 2019, Grill Splendour Services Limited 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.

Grill Splendour Services Private Ltd. acquired Birdy’s Bakery and Patisserie from WAH Restaurants Private Limited in November 2019 to expand its reach in the hospitality industry.

The company’s product portfolio can be divided into the following areas

  • Cakes and pastries
  • Sale of food products
  • Beverages
  • Sale of desserts

The company has 17 retail stores, 5 of which are operated under a franchise model (franchisee-owned, and company-operated), while the remaining 12 stores are owned by the company.

As of February 29, 2024, the company employed 77 people in various departments.

Grill Splendour Services Limited Financial Information (Restated)

Grill Splendour Services Limited’s revenue increased by 32.92% and profit after tax (PAT) rose by 5654.34% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended30 Nov 202331 Mar 202331 Mar 202231 Mar 2021
Assets2,211.54764.02290.59265.98
Revenue885.641,531.621,152.27825.22
Profit After Tax61.65199.103.46-3.63
Net Worth494.98200.791.69-1.77
Reserves and Surplus111.44199.790.69-2.77
Amount in ₹ Lakhs

Objects of the Issue (Birdy’s IPO Objectives)

The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  1. Funding additional Working capital requirements;
  2. Pre-payment/Repayment, in full or part, of certain outstanding borrowings availed by the Company; and
  3. General Corporate Purposes

Birdy's IPO Timeline (Tentative Schedule)

Birdy's IPO opens on April 15, 2024, and closes on April 18, 2024.

IPO Open DateMonday, April 15, 2024
IPO Close DateThursday, April 18, 2024
Basis of AllotmentFriday, April 19, 2024
Initiation of RefundsMonday, April 22, 2024
Credit of Shares to DematMonday, April 22, 2024
Listing DateTuesday, April 23, 2024
Cut-off time for UPI mandate confirmation5 PM on April 18, 2024

SHARIAH SCREENING for - Grill Splendour Services Limited IPO

BUSINESS SCREEN

FINANCIAL RATIOS

As per our analysis and Based on the information we have, this is the output.
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