Monday 23 May 2022

India’s Coffee Day sets price band for IPO

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Coffee Day Enterprises Ltd , the company behind Cafe Coffee Day, India’s biggest homegrown coffee chain founded by V.G. Siddhartha, has set the price band for its up to USD 176 million initial public offering (IPO) at between Rs 316 and Rs 328 a share (4.8- 5 US$), said two sources directly involved in the deal.

Market regulator Securities and Exchange Board of India’s (Sebi) had approved the IPO plan in August.

Coffee Day Enterprises Ltd, which competes with Starbucks Corp among others in the domestic market, will launch the IPO next Wednesday, according to the company’s prospectus seen on Tuesday.

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