Grill Splendor Services IPO: Grill Splendor Services Ltd's IPO, which opened for public subscription on April 15, received a positive response from investors. The price was set at Rs 120 per share. Till 11:36 am on the second day of offering on Tuesday, the Rs 16.47-crore SME IPO attracted 2.62 times subscription and received bids for 35,97,600 shares against 13,72,800 shares on offer.
Grill Splendor Services' IPO, or Girdy's IPO, will close on Thursday, April 18.
Share allotment for Grill Splendor Services IPO will take place on April 19 while the shares will be listed on NSE SME on April 23.
Grill Splendor Services IPO GMP today
According to market observers, unlisted shares of Grill Splendor Services Ltd are trading Rs 8 higher in the gray market compared to the issue price. The gray market premium or GMP of Rs 8 means that the gray market expects a stock market appreciation of 6.67 percent from the public issue. The GMP is based on market sentiment and is constantly changing.
“Gray market premium” indicates investors’ willingness to pay more than the issue price.
Grill Splendor Services IPO details
The IPO of Grill Splendor Services, which is a fixed price issue of Rs 16.47 crore, is a pure fresh issue of 13.73 lakh shares.
Birdy's IPO price is Rs 120 per share. The minimum lot size for registration is 1,200 shares. The minimum investment amount required for retail investors is Rs 1,44,000. The minimum investment size for HNI is 2 lots (2,400 shares) worth Rs 2,88,000.
Inventure Merchant Banker Services Pvt Ltd is the underwriter of Birdy's IPO while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Birdy's IPO is Rikhav Securities.
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Established in November 2019, Grill Splendor Services Limited is a chain of gourmet bakeries and cake shops in Mumbai with 17 retail outlets, a central manufacturing facility and several corporate clients operating under the Birdy's brand name.
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