Speciality Restaurants is trading at Rs 153, a marginally higher against its issue price of Rs 150 per share in the pre-open bidding on the Bombay Stock Exchange.
The company has raised Rs 176 crore through initial public offer (IPO), which was oversubscribed 2.44 times as per basis of allotment published by the company. The IPO has received a strong response from QIB and HNI investors and got subscriptions of 4.7 times and 2.2 times respectively.
The Anjan Chatterjee-promoted Speciality Restaurants has 82 outlets across 11 brands, including Mainland China, Oh! Calcutta, Sweet Bengal, Flame and Grill, Sigree and Machaan. The proceeds of the IPO will be mainly used for new restaurants, the repayment of term loans and general corporate purposes.
