Merrill Lynch, Platinum Asia Fund anchor investors in Coffee Day IPO

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.

Cafe Coffee Day Collage

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
15 Tarra Fund 155,280 322
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.

Read Also: Cafe Coffee Day IPO Review: Eligible for conglomerate discount

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.

Merrill Lynch, Platinum Asia Fund anchor investors in Coffee Day IPO
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Krishna Bagra

Coming from a family of investors and financial analysts, Krishna learnt wading through regulatory filings pretty early in her career. At IPO Central, Krishna plays twin roles of contributor and head of research desk. She can also be reached at +krishnabagra .

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