Grill Splendour Services Ltd. IPO

We are a chain of gourmet Bakery and Patisserie spread across Mumbai through 17 retail stores, a centralized production facility and multiple corporate clients. Out of these 17 retail stores, 5 stores are running under the franchisee model (franchisee owned, and company operated) and rest 12 ... stores are owned by us. For details on franchisee agreement and locations, please refer to “Immovable Property” beginning on page 90 of the Prospectus. For details on the revenue earned through our franchisee owned stores and through our owned stores please refer to page no. 75 of the Prospectus. We offer fresh food products from traditional to ‘made to order’ as required by the Customers. Both our Promoters individually have 30+ years of experience in the Hospitality industry. Grill Splendor Services Private Ltd. was incorporated in November 2019 as a hospitality company to acquire the bakery and confectionary business along with brand Birdy’s Bakery and Patisserie from WAH Restaurants Private Limited. The acquisition was done via a Business Transfer and Intellectual Property Assignment Agreement dated December 27, 2019 (Acquisition Agreement). After that the company proceeded to invest in the business and grow the brand and spread its presence. The brand Birdy’s was originally set up as “Birdy’s by Taj”. Over a period, it was sold to WAH Restaurants Private Limited and from them the same was acquired by us vide above referred Acquisition Agreement. The primary focus of our Company was to bring back the quality and sheen of the brand. We did that over a period of the last few years by a series of initiatives. We are engaged in the sale of following broad categories of products: - Cakes & Pastries - Food Sale - Beverages - Desert Sales Read more

INTRODUCTION
India’s food service sector is one of the vibrantly growing segments which has witnessed noticeable growth in past few years. The sector, including both organised and unorganized segments, stands at Rs. 4,23,865 crores in 2018-19. The sector is expected to reach to US$ ... 79.65 billion by 2028, with a CAGR of 11.19%. Factors accelerating the progress of the food services sector include changing demographics, increase in disposable income, growing urbanization, increasing internet penetration and proliferation of online services. Also, young affluent couples with penchant for eating out are adding to the growth further. Following are the major factors contributing to the growth of the sector: - Increase in the size of the population between age group 15-64 years of age - Increasing urbanization - Growing travel and tourism - Increasing number of Indian brands going global - Restaurants and food joints are increasingly becoming preferred location for socializing during weekdays and weekends. Players generate close to 58% of their revenue during weekdays and balance during weekends. - There has been explosion in terms of experimentation with the formats, menus and themes leading to lot of entrepreneurs venturing in this segment - Restaurants are offering value for money combo meal offers to their customers leading to larger section of population afford eating out more often - Explosion of internet users and increased internet penetration and increased usage of apps including plethora of food ordering and delivery service apps will lead to increase spend on outside food Read more