Coffee Day Enterprises IPO subscribed 75% a day before close

Issue has so far received 18.8 mn bids as against 25.8 mn shares on offer

The Rs 1,150-crore Initial Public Offering (IPO) of Coffee Day Enterprises, the company that operates Cafe Coffee Day chain of restaurants, was subscribed 75% a day before its close.

The issue has so far received 19.3 million bids as against 25.8 million shares on offer. Bulk of the bids came from institutional investor, with the category meant for them getting subscribed nearly two times.

Retail and wealthy investor segment was subscribed 33% and 7% respectively. Typically, most of the bids in an IPO come on the last day.

Coffee Day has priced its IPO in the range between Rs 316 and Rs 328 per share. The company on Tuesday raised Rs 334 crore crore from anchor investors by selling 10.4 million shares at Rs 322 apiece.