Grill Splendour Services IPO Review - Issue Date, Price, GMP, Subscription, Allotment, Lot Size, and Details

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Grill Splendour Services Limited IPO GMP

Birdy's IPO, valued at Rs 16.47 crores, consists of 13.73 lakh fresh shares and is offered at a fixed price of ₹120 per share. Subscription for the IPO begins on April 15, 2024, closing on April 18, 2024, with the allotment expected on April 19, 2024. It is set to list on NSE SME by April 23, 2024.

Retail investors must apply for a minimum of 1200 shares, requiring an investment of at least ₹144,000. HNIs are required to invest in a minimum of 2 lots (2,400 shares), totaling ₹288,000.

Inventure Merchant Banker Services Pvt Ltd is the book running lead manager, with Bigshare Services Pvt Ltd serving as the registrar. Rikhav Securities is the market maker for Birdy's IPO

The company proposes to utilize the Net Proceeds towards:

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

Listing will enhance the corporate image & visibility of the brand name, providing liquidity to the existing shareholders.