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Caf? Coffee Day to launch IPO on Oct 14: Report


07 Oct 2015
Caf? Coffee Day (CCD), an Indian caf? chain owned by Coffee Day Global, will launch the country's mega initial public offering next week, with aim to raise up to Rs 1,150 crore.

According to media report, restaurants chain founded by V.G. Siddhartha, has fixed a price band of Rs.316-328 for the issue which is expected to open on October 14.

Last month, the company has filed its draft red herring prospectus (DRHP) with capital markets regulator SEBI approval for public listing of its equity shares through its lead merchant banker Kotak Mahindra Capital Company Limited.

As per the draft paper, the company intends to raise an estimated Rs 1,150 crore to aid its expansion plans and pay off debt. The company, which has got private equity giants like KKR, Stanchart PE and New Silk Route as its investors, has reserved Rs 15 crore worth shares for staff.

Coffee Day Enterprises is the parent company of the Coffee Day Group and operates coffee business through a subsidiary, Coffee Day Global Limited (earlier known as Amalgamated Bean Coffee Trading Company Limited), and its subsidiaries. Out of the capital raised through the issue, the parent company plans to utilise nearly Rs. 632 crore to pay off debt and the remaining to open new stores, set up coffee bean roasting plants and make vending machines, the proposal said.
Source: Dion Global   Type: IPO Related