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Coffee Day IPO subscribed 82 percent by second day | Canindia News

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Coffee Day IPO subscribed 82 percent by second day

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CanIndia New Wire Service 0 comments

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

“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’,” marketing head Bidishia 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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