Birdy’s IPO, valued at Rs 16.47 crores, comprises entirely of fresh issue shares totaling 13.73 lakh.
The subscription for Birdy’s IPO commenced on April 15, 2024, and concludes today, April 18, 2024. The allotment is anticipated to be finalized by Friday, April 19, 2024. The IPO is slated to be listed on NSE SME, with a provisional listing date set for Tuesday, April 23, 2024.
Priced at ₹120 per share, Birdy’s IPO requires a minimum lot size of 1200 shares for application, translating to a minimum investment of ₹144,000 for retail investors. For HNI investors, the minimum lot size is 2 lots (2,400 shares), equating to a minimum investment of ₹288,000.
Inventure Merchant Banker Services Pvt Ltd acts as the book running lead manager for Birdy’s IPO, with Bigshare Services Pvt Ltd serving as the registrar. Rikhav Securities is designated as the market maker for the IPO.
For comprehensive details, please refer to Birdy’s IPO RHP.
Grill Splendour Services Day-wise IPO GMP Trend
| GMP Date | IPO Price | GMP | Sub2 Sauda Rate | Estimated Listing Price | Last Updated |
|---|---|---|---|---|---|
| 18-04-2024 Close | 120.00 | ₹8  |
7300 | ₹128 (6.67%) | 18-Apr-2024 14:59 |
| 17-04-2024 | 120.00 | ₹8 |
7300 | ₹128 (6.67%) | 18-Apr-2024 0:30 |
| 16-04-2024 | 120.00 | ₹8 |
7300 | ₹128 (6.67%) | 17-Apr-2024 0:27 |
| 15-04-2024 Open | 120.00 | ₹8 |
7300 | ₹128 (6.67%) | 16-Apr-2024 0:23 |
| 14-04-2024 | 120.00 | ₹8 |
7300 | ₹128 (6.67%) | 15-Apr-2024 0:23 |
| 13-04-2024 | 120.00 | ₹8 |
7300 | ₹128 (6.67%) | 14-Apr-2024 0:26 |
| 12-04-2024 | 120.00 | ₹8 |
7300 | ₹128 (6.67%) | 13-Apr-2024 0:31 |
| 11-04-2024 | 120.00 | ₹8 |
7300 | ₹128 (6.67%) | 12-Apr-2024 0:31 |
| 10-04-2024 | 120.00 | ₹8 |
7300 | ₹128 (6.67%) | 11-Apr-2024 0:26 |
| 09-04-2024 | 120.00 | ₹8  |
7300 | ₹128 (6.67%) | 10-Apr-2024 0:32 |
| 08-04-2024 | 120.00 | ₹0 |
— | ₹ (0%) | 8-Apr-2024 19:33 |
Birdy’s IPO Details
| IPO Date | April 15, 2024 to April 18, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹120 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 1,372,800 shares (aggregating up to ₹16.47 Cr) |
| Fresh Issue | 1,372,800 shares (aggregating up to ₹16.47 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 3,835,400 |
| Share holding post issue | 5,208,200 |
| Market Maker portion | 69,600 shares Rikhav Securities |
Birdy’s IPO Timeline
Birdy’s IPO opens on April 15, 2024, and closes on April 18, 2024.
| IPO Open Date | Monday, April 15, 2024 |
| IPO Close Date | Thursday, April 18, 2024 |
| Basis of Allotment | Friday, April 19, 2024 |
| Initiation of Refunds | Monday, April 22, 2024 |
| Credit of Shares to Demat | Monday, April 22, 2024 |
| Listing Date | Tuesday, April 23, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on April 18, 2024 |
Birdy’s IPO Lot Size
Investors have the option to bid for a minimum of 1200 shares and thereafter in multiples of this amount. The following table illustrates the minimum and maximum investment amounts for both retail investors and HNIs, specified in terms of shares and corresponding monetary value.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹144,000 |
| Retail (Max) | 1 | 1200 | ₹144,000 |
| HNI (Min) | 2 | 2,400 | ₹288,000 |
About Grill Splendour Services Limited
Grill Splendour Services Limited, established in November 2019, is a Mumbai-based chain of gourmet bakeries and patisseries operating under the renowned brand name Birdy’s. With 17 retail outlets, a central manufacturing facility, and a clientele comprising both retail and corporate customers, the company has swiftly made its mark in the culinary landscape.
In November 2019, Grill Splendour Services Private Ltd. acquired Birdy’s Bakery and Patisserie from WAH Restaurants Private Limited, a strategic move aimed at broadening its footprint in the hospitality sector.
The company’s diverse product portfolio encompasses:
– Cakes and pastries
– Food products
– Beverages
– Desserts
Of its 17 retail stores, 5 operate under a franchise model (franchisee-owned and company-operated), while the remaining 12 are company-owned establishments.
As of February 29, 2024, Grill Splendour Services Limited boasted a workforce of 77 individuals across various departments, contributing to its operational efficiency and growth trajectory.
Grill Splendour Services Limited Financial Information
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 Ended | 30 Nov 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 2,211.54 | 764.02 | 290.59 | 265.98 |
| Revenue | 885.64 | 1,531.62 | 1,152.27 | 825.22 |
| Profit After Tax | 61.65 | 199.10 | 3.46 | -3.63 |
| Net Worth | 494.98 | 200.79 | 1.69 | -1.77 |
| Reserves and Surplus | 111.44 | 199.79 | 0.69 | -2.77 |
| Amount in ₹ Lakhs | ||||
Birdy’s IPO Allotment Status Online
Birdy’s IPO allotment is expected on April 19, 2024.
Birdy’s IPO allotment status is not available at this time. Birdy’s IPO – The allotment status will be available once the basis of allotment is finalized. Please revisit us to check the latest updates for Grill Splendour Services Limited IPO allotment status.
To check Birdy’s IPO allotment status, follow the steps below:
- Click on the below allotment status check button.
- Select Company Name.
- Enter your PAN Number, Application Number or DP Client ID (Anyone).
- Click on Search.
On securing the allotment, you will receive the credit of equivalent shares in your Demat account.
If you have any concerns or queries about the allotment status, contact Bigshare Services Pvt Ltd either by phone or email. Investors can call on +91-22-6263 8200 or send an email with all relevant details to ipo@bigshareonline.com.
Key Performance Indicator
The market capitalization of Birdy’s IPO is Rs 62.5 Cr.
KPI as of November 30, 2023.
| KPI | Values |
|---|---|
| Debt/Equity | 1.5 |
| RoNW | 12.46% |
| P/BV | 9.3 |
| PAT Margin (%) | 6.96 |
Objects of the Issue (Birdy’s IPO Objectives)
The objectives of Birdy’s IPO, regarding the utilization of its Net Proceeds from the Fresh Issue, are outlined as follows:
1. Meeting additional working capital requirements.
2. Pre-payment or partial repayment of specific outstanding borrowings obtained by the Company.
3. Catering to general corporate purposes.