Coffee Day tests market taste for IPO

India’s biggest coffee chain intends to raise capital to pay down debt and broaden its offering amid tough competition from foreign rivals.
Coffee Day Enterprises, the operator of India’s biggest coffee chain, has begun testing investor appetite for what could be the country’s largest initial public offering this year.
 
A source close to the deal told FinanceAsia that pre-marketing for the IPO will last about two weeks until early August but added that the company was awaiting investor feedback before deciding on a formal timetable for its launch.

India’s stock market is one of the worst performing in Asia this year as the introduction of retrospective taxes on foreign funds and the postponement of a land acquisition...

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