Coffee Day IPO
MUMBAI: Coffee Day Enterprises Ltd, which runs the nation’s biggest coffee chain, said it is eyeing a valuation of as much as INR 67.5 billion ($1.04 billion) based on the issue price of its initial public offering next week that will be the biggest in the local market in nearly three years.
Coffee Day, which is selling new shares in the IPO, will dilute as much as 17.55 per cent on a post-issue basis to raise up to INR 11.5 billion, according to a presentation made at a company news conference on Wednesday. The company will sell INR 3.4 billion worth of shares to cornerstone investors ahead of the IPO, managers to the IPO said.
It is selling shares in a price range of INR 316 to INR 328 in the issue that will open on October 14 and close on October 16.