Set to debut in stock market, leading coffee chain operator Coffee Day Enterprises has fixed its public offer price at Rs328 per share, taking the total proceeds to Rs1,150 crore from its over-subscribed IPO.
The IPO closed on October 16 after three days of bidding in a price band of Rs316-328 a piece for the shares on offer. The IPO got over-subscribed 1.81-times with demand worth Rs2,000 crore. Although the portion reserved for retail investors could not be fully subscribed with 90 per cent bids, the company has now fixed the final offer price at the upper end of the price band.
The shares reserved for qualified institutional buyers (QIBs) was subscribed nearly 4.4 times. The most tepid response was in non-institutional investors category, which saw only 53 per cent subscription. In its final prospectus ahead of the listing, the company has now said the public issue of 3.5 crore shares has been made at a price of Rs328 per equity share, aggregating Rs1,150 crore.