Coffee Day scrip bombs on debut

Shares tank 17% on listing day

Coffee Day Enterprises made a disappointing debut on the bourses with its shares tumbling and ending down over 17.64 per cent on listing day.

Shares of Coffee Day Enterprises, which owns the Cafe Coffee Day chain of cafes, opened at Rs 317 as against the issue price of Rs 328 per share. The scrip hit an intra-day low of Rs 266.30 and a high of Rs 317, before finally shutting shop at Rs 271. A total of 1.83 crore shares were traded in the scrip throughout the day with total traded value exceeding Rs 523 crore.

The IPO of CDEL was open for subscription from October 14 with a price band of Rs 316-328 per share and was subscribed over 1.8 times its size. The global coordinators and book running lead managers to the issue were Kotak Mahindra Capital, Citigroup Global Markets India and Morgan Stanley India. The book running lead managers to the issue are Axis Capital, Edelweiss Financial Services and YES Bank.