Coffee Day's Rs 1,150-crore IPO over-subscribed

Coffee Day Enterprises has already raised over Rs 334 crore from anchor investors.

The initial public offer of Coffee Day Enterprises, which runs Cafe Coffee Day (CCD) chain, was over-subscribed by 1.64 times on the final day of the issue on Friday.

The Rs 1,150-crore (Rs 11.50 billion) IPO received bids for 4,23,76,590 shares against the total issue size of 2,58,14,198 shares, according to data available with the NSE till 1500 hours.

The company plans to mop up Rs 1,150 crore through the IPO, which will be the biggest in the country in nearly three years.

Coffee Day Enterprises has already raised over Rs 334 crore (Rs 3.34 billion) from anchor investors.

The company, which competes with global giant Starbucks in the fast-growing Indian consumer market, has fixed a price band of Rs 316-328 per share for its IPO. The share sale will close today.

Kotak Investment Banking, Citigroup, Morgan Stanley, Axis Capital, Edelweiss and Yes Bank are handling the IPO of Coffee Day Enterprises, whose shareholders include private equity giants KKR and New Silk Route.

Siddhartha, the main promoter as well as hairman and MD, holds 54.78 per cent stake in Coffee Day.

The overall shareholding of promoters is 92.74 per cent. In March, Coffee Day raised Rs 100 crore in a pre-IPO funding from Nandan Nilekani and Rare Enterprises (owned by Rakesh Jhunjhunwala and Ramesh Damani), among others.

Coffee Day Enterprises is the parent company of Coffee Day Group and operates coffee business through a subsidiary, Coffee Day Global Ltd (earlier known as Amalgamated Bean Coffee Trading Company Limited) and its subsidiaries.