The initial public offer of Coffee Day Enterprises, which runs the Café
Coffee Day chain of coffee shops in the country, was fully subscribed
half way through its third and final day.
The ₹1,150-crore IPO was
subscribed 1.82 times on both the BSE and the NSE at around 8 pm.Friday Oct 16,2015
Qualified institutional buyers had subscribed to their portion 4.38
times, HNIs 0.18 times and retail investors 0.95 times to their
respective segments.
The company is selling 2.58 crore shares at a price band of ₹316-328
apiece. Before the public offer began, the company had raised ₹334 crore
from anchor investors.
The
company will use the proceeds to partly retire its debt. The promoter's
holding in the company will come down to 52.6% from 63.3% after this
issue. Coffee Day posted a net loss ofRs10.9 crore and consolidated
revenue of Rs875 crore for the nine months ended December 31.
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