Coffee Day IPO subscribed 82 percent by second day

Bengaluru, Oct 15 (IANS) The Rs.1,150 crore IPO of Coffee Day Enterprises Limited (CDEL), which runs the Cafe Coffee Day coffee outlet, has garnered 82 percent subscription by the end of the second day, said sources.

“The 82 percent subscription includes 1.03 crore equity shares aggregating to Rs.334 crore allotted to 17 anchor investors and over 50 percent of the equity shares amounting to Rs.15 crore earmarked for employees to subscribe under ‘Employee Reservation Portion’,” a source told IANS.

The IPO has an entire day to go before it closes.

The largest coffee outlet network in India, it has 1,538 outlets.

CDEL chairman V.G. Siddhartha said on Monday that the proceeds from the IPO would be deployed for reducing debt and expanding the company’s outlet footprint across the country.

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