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Birdy's IPO is a fixed price issue of Rs 16.47 crores. The issue is entirely a fresh issue of 13.73 lakh shares.
Birdy's IPO bidding started from April 15, 2024 and ended on April 18, 2024. The allotment for Birdy's IPO was finalized on Friday, April 19, 2024. The shares got listed on NSE SME on April 23, 2024.
Birdy's IPO price is ₹120 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹144,000. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹288,000.
Inventure Merchant Banker Services Pvt Ltd is the book running lead manager of the Birdy's IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Birdy's IPO is Rikhav Securities.
Refer to Birdy's IPO RHP for detailed information.
| IPO Date | April 15, 2024 to April 18, 2024 |
| Listing Date | April 23, 2024 |
| 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 offers 1,372,800 shares. 651,600 (47.47%) to NII, 651,600 (47.47%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 69,600 (5.07%) |
| Other Shares Offered | 651,600 (47.47%) |
| Retail Shares Offered | 651,600 (47.47%) |
| Total Shares Offered | 1,372,800 (100%) |
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 |
Investors can bid for a minimum of 1200 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹144,000 |
| Retail (Max) | 1 | 1200 | ₹144,000 |
| HNI (Min) | 2 | 2,400 | ₹288,000 |
| Lot Size Calculator | |||
The promoters of the company are Srinidhi V Rao, Vandana Srinidhi Rao and Vivek Vijaykumar Sood
| Share Holding Pre Issue | 49.75% |
| Share Holding Post Issue | 36.64% |
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
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'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 | ||||
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 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.19 | 1.78 |
| P/E (x) | 23.12 | 67.58 |
The Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:
[Dilip Davda] The company is in business of Cakes & Pastries, Food Sale, Beverages, and Desert Sales. It posted bumper profits from FY23 onwards i.e. pre-IPO years, which appears to be an exercise to get fancy valuations. Based on its annualized FY24 earnings, the issue is aggressively priced. Small paid-up equity capital post-IPO indicates longer gestation period for migration. There is no harm in skipping this pricey bet. Read detail review...
The Birdy's IPO is subscribed 8.68 times on April 18, 2024 7:29:56 PM. The public issue subscribed 12.78 times in the retail category, times in the QIB category, and 4.59 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 4.59 |
| Retail | 12.78 |
| Total | 8.68 |
Total Application : 6,939 (12.78 times)
| Listing Date | April 23, 2024 |
| BSE Script Code | |
| NSE Symbol | BIRDYS |
| ISIN | INE0PC901019 |
| Final Issue Price | ₹120 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹120.00 |
| ₹121.30 |
| ₹120.00 |
| ₹127.35 |
| ₹127.35 |
Grill Splendour Services Limited
J1, Shram Siddhi Vinayak Premises Co-Op Soc Ltd C1
1st Floor, Plot - 8, Wadala Truck Terminal Road,
Antop Hill, Mumbai - 400 037,
Phone: +91 22 5002 9517
Email: ipo@birdys.in
Website: https://www.birdys.in/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
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Birdy's IPO is a SME IPO of 1,372,800 equity shares of the face value of ₹10 aggregating up to ₹16.47 Crores. The issue is priced at ₹120 per share. The minimum order quantity is 1200 Shares.
The IPO opens on April 15, 2024, and closes on April 18, 2024.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Birdy's IPO using UPI as a payment gateway. Zerodha customers can apply in Birdy's IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Birdy's IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Birdy's IPO opens on April 15, 2024 and closes on April 18, 2024.
Birdy's IPO lot size is 1200 Shares, and the minimum amount required is ₹144,000.
You can apply in Birdy's IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Birdy's IPO will be done on Friday, April 19, 2024, and the allotted shares will be credited to your demat account by Monday, April 22, 2024. Check the Birdy's IPO allotment status.
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