The firm has fixed a price band of Rs 316-328
Mumbai : In the biggest IPO in nearly 3 years, India’s top coffee chain operator Coffee Day Enterprises with hit the market on October 14 to raise an estimated Rs 1,150 crore as it eyes a valuation of over Rs 6,500 crore (nearly USD one billion).
The company, which operates under Cafe Coffee Day (CCD) brand and competes with global giant Starbucks in the fast- growing Indian market, fixed a price band of Rs 316-328 per share for its Initial Public Offer.
Besides being the biggest in nearly three years, it is also being seen as heralding the long-awaited revival in the IPO market as it could be followed by a number of big brands such as Infibeam — the first e-commerce firm to launch an IPO in India — and InterGlobe Aviation Ltd that operates the country’s most successful airline under IndiGo brand. Coffee Day Global Ltd had a total income of Rs 1,154 crore and operating profit of Rs 189 crore in fiscal 2013-14.