Speciality Restaurants IPO subscribed 2.5 times: NSE

'Speciality Restaurants' $34 million initial public offer received bids for about two-and-a-half times the number of shares on offer on the last day of the sale, exchange data showed on Friday.

Investors bid for more than 25 million shares of Speciality Restaurants, which was offering about 10 million shares in the IPO that opened on Wednesday, according to data on the National Stock Exchange.

Speciality, which runs popular food chains such as Mainland China, Oh! Calcutta and Sigree, was selling the shares in a price band of Rs 146-155 apiece.

Kotak Mahindra Capital was the sole bookrunner for the Speciality Restaurants' share offering, which came two weeks after Samvardhana Motherson Finance withdrew its $311 million IPO due to poor investor response.