Coffee Day Enterprises Limited (CDEL) has made an allotment of 10.38 million shares to 17 anchor investors at a price of INR322 per share. The conglomerate, which operates India’s largest chain of coffee outlets, has raised INR3.3 billion by placing the shares with anchor investors which will have a lock in period of 30 days from the date of allotment.
Among the leading parties allotted shares are Merrill Lynch Capital Markets Espana SA SV and Platinum Asia Fund which have been allocated 1.94 million and 1.45 million shares respectively. Axis Mutual Fund, ICICI Prudential and National Westminster Bank are other prominent investors.
|S. No.||Anchor Investor||Shares Allotted||Allocation Price|
|1||Blackrock India Equities Fund (Mauritius) Limited||379,170||322|
|2||Government Pension Fund Global||379,170||322|
|3||Platinum Asia Fund||1,456,065||322|
|4||Platinum International Brands Fund||339,536||322|
|5||National Westminster Bank Plc as Trustee of the Jupiter India Fund||1,057,932||322|
|6||Jupiter South Asia Investment Company Limited – South Asia Access Fund||307,143||322|
|7||ICICI Prudential FMCG Fund||159,480||322|
|8||ICICI Prudential Exports and Other Services Fund||464,985||322|
|9||ICICI Prudential Dynamic Plan||416,340||322|
|10||ICICI Prudential Top 100 Fund||101,160||322|
|11||ICICI Prudential Value Fund Series 3||22,635||322|
|12||Axis Mutual Fund A/c Axis Long Term Equity Fund (ATXF)||1,164,600||322|
|13||Reliance Life Insurance Company Limited||758,340||322|
|14||Faering Capital India Evolving Fund||679,947||322|
|16||Merrill Lynch Capital Markets Espana SA SV||1,947,879||322|
|17||Swiss Finance Corporation (Mauritius) Limited||591,435||322|
Coffee Day IPO will open on Wednesday, 14 October for subscription and will close on 16 October. This is the biggest IPO in India this year but its diversified business model and loss-making operations have evoked mixed reactions from analysts.
By roping in anchor investors, Coffee Day has eased the pressure on the IPO whose prospects have been somewhat dimmed by the overtly diversified businesses.