Coffee Day $175m IPO gets caffeine boost

Strong demand from institutional investors helped outstrip subdued retail interest as India's leading coffee chain priced its IPO at the top end of its range.

Coffee Day $175m IPO gets caffeine boost

Coffee Day Enterprises priced its Rs11.5 billion $175 million initial public offering at the top end of guidance on Monday, albeit thanks only to overwhelming demand from qualified institutional buyers.

India’s biggest coffee chain settled the final price at Rs328 per share for non-anchor investors, the highest end of the price band announced earlier this month.

A total of 35 million shares will be issued...

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