Brewing better! Coffee Day Enterprises recovers 3% after listing crash

Yesterday, the stock fell over 18% at Rs. 270 on its debut against issue price of Rs 328 per share.

Shares of Coffee Day Enterprises were higher by 3% at Rs. 278. Yesterday, the stock fell over 18% at Rs. 270 on its debut against issue price of Rs 328 per share.

The company raised Rs 1,150 crore in an initial public offering.

The IPO closed on October 16 and got oversubscribed 1.81 times. 

The shares reserved for qualified institutional buyers (QIBs) was subscribed nearly 4.4 times. 

Coffee Day Enterprises Ltd. (“CDEL”) is the parent company of the Coffee Day Group, which currently operates in businesses such as coffee, development and management of IT-ITES technology parks, providing integrated logistics solutions, financial services, hospitality and investing in technology companies. 

The Company also has investments in certain IT-ITES and other technology companies such as Mindtree in which it owns a 16.75% equity holding (effective holding being 16.04%) as of June 30, 2015 and in which the Promoter, V.G. Siddhartha, additionally owns 3.01%. Other investee companies include Ittiam, Magnasoft and Global Edge.