Grill Splendour Services IPO (Birdy’s IPO) Review

Birdy's IPO Review

IPO Open Date: April 15, 2024

IPO Close Date: April 18, 2024

IPO Price: ₹120 per share

Lot Size: 1200 Shares

Listing: April 23, 2024

Birdy's is scheduled to hit the market on April 15, 2024 and close on April 18, 2024. Birdy's plans to raise around ₹16.47 Cr through an IPO with a sale of up to 1,372,800 equity shares of ₹10 each. The Retail offered 50%, Other Shares Offered 50%.

Grill Splendour Services, founded in November 2019, operates a network of gourmet bakeries and patisseries in Mumbai. The company has 17 retail outlets, a central kitchen for production, and serves both individual customers and corporate clients. In November 2019, they acquired Birdy's Bakery and Patisserie to enhance their presence in the hospitality industry.

The company's product range includes cakes, pastries, food items, beverages, and desserts. To manage their delivery operations, Grill Splendour Services utilizes four vehicles fueled by petrol obtained from local gas stations. As of February 29, 2024, the company has a workforce of 77 employees working across different departments.

Grill Splendour Services

Birdy's IPO Details

Birdy's IPO opens on April 15, 2024, and closes on April 18, 2024. The Listing date for Birdy's IPO is on April 23, 2024. The price band for IPO is ₹120 per share and lot size of 1200 Shares.

IPO DateApril 15, 2024 to April 18, 2024
Listing DateApril 23, 2024
Price₹120 per share
Lot Size1200 Shares
Issue Size₹16.47 Cr
Face Value₹10 per share

Birdy's IPO Tentative Timetable

Birdy's opening date is April 15, 2024 and close date is April 18, 2024. The IPO allotment date is April 19, 2024. The refund initiation of IPO is on April 22, 2024. The credit of shares in demat account is on April 22, 2024. The listing date is on April 23, 2024.

IPO OpeningApril 15, 2024
IPO ClosingApril 18, 2024
IPO Allotment DateApril 19, 2024
Refund InitiationApril 22, 2024
Shares Credit to DematApril 22, 2024
Lisiting DateApril 23, 2024

Birdy's IPO Lot Size

Lot Size of this IPO is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹144,000).

HNI (Minimum)22400₹288,000

Birdy's IPO Promoter Holding

Pre Issue Share Holding81.01%
Post Issue Share Holding

Birdy's IPO Review

Grill Splendour Services, a renowned chain of gourmet bakeries and patisseries in Mumbai, recently launched its Initial Public Offering (IPO) with a market capitalization of Rs 62.5 Cr. The company experienced significant growth in revenue by 32.92% and a remarkable 5654.34% surge in profit after tax between the financial years ending on March 31, 2023, and March 31, 2022. This growth underscores the company's strong financial performance and potential for future expansion in the hospitality industry.

One key aspect to note is Grill Splendour Services' Key Performance Indicators (KPIs) as of November 30, 2023. With a Debt/Equity ratio of 1.5 and a Return on Net Worth (RoNW) of 12.46%, the company exhibits a healthy financial structure. Additionally, the Price-to-Book Value (P/BV) ratio of 9.3 and a Profit After Tax (PAT) Margin of 6.96% indicate the company's efficiency in generating profits and creating value for its shareholders. Investors looking for a company with strong fundamentals may find Grill Splendour Services IPO an attractive investment opportunity.

The objectives of the IPO include utilizing the net proceeds towards funding additional working capital requirements, pre-payment or repayment of outstanding borrowings, and general corporate purposes. With a focus on expanding its reach and enhancing operational capabilities, Grill Splendour Services aims to leverage the IPO funds to drive future growth and strengthen its position in the market. Overall, considering the company's financial performance, growth potential, and strategic objectives, investing in Grill Splendour Services IPO could be a promising opportunity for investors seeking exposure to the thriving hospitality sector in India.

Birdy's IPO Subscription Status (Bidding Details)

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Birdy's IPO Broker Recommendations

  • Capital Market: To be updated soon
  • Anand Rathi: To be updated soon
  • SMC Global: To be updated soon
  • Arihant Capital: To be updated soon

Birdy's IPO FAQs

What is Birdy's IPO?

Birdy's is issuing 1,372,800 equity shares with a face value of ₹10 each, totaling up to ₹16.47 Cr. The shares are being offered at a price of ₹120 each, with a minimum order quantity of 1200 shares.

Bigshare Services Pvt Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.

When Birdy's IPO will open?

Birdy's will open on April 15, 2024 for QIB, NII, and Retail Investors.

When Birdy's IPO will end?

Birdy's will end on April 18, 2024.

What is Birdy's IPO Size?

Birdy's IPO size is 16.47 Cr.

What is Birdy's IPO Price Band?

Birdy's price band is ₹120 per share.

What is the Birdy's IPO Allotment Date?

Birdy's allotment date is April 19, 2024.

What is the Birdy's IPO Listing Date?

Birdy's listing date is April 23, 2024. The IPO is to be listed on BSE and NSE.

How to Birdy's IPO through Zerodha?

To apply for the IPO “Birdy's” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.

How to Apply Birdy's IPO through Upstox?

To apply for the IPO “Birdy's” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.

How to check Birdy's IPO Allotment Status?

For Birdy's IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.

What is Birdy's IPO GMP?

You can check out here: Birdy's IPO GMP

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About Ishika Agarwal

Ishika Agarwal is a seasoned financial writer with a strong background in the stock market and investment sector. Ishika has a passion for analyzing and interpreting complex financial data to provide valuable insights to her readers.

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