Coffee Day shares open below issue price, down 4.5%

Shares of leading coffee chain operator Coffee Day Enterprises today debuted on a weak note, opening at Rs 313 against the issue price of Rs 328.
The stock of Coffee Day Enterprises, which runs Cafe Coffee Day (CCD) chain, was down 4.57 per cent at Rs 313, much below the issue price on the BSE.
Intra-day, the shares fell over 14.42 per cent to hit a low of Rs 280.7 but were last trading at Rs 292.
On the NSE, shares of the company debuted at Rs 317, reflecting a fall of 3.35 per cent.
The company commands a market valuation of Rs 5,998.77 crore.

Coffee Day Enterprises' Rs 1,150-crore public issue was over-subscribed 1.81 times last month.

The company, which competes with global giant Starbucks in the fast-growing Indian consumer market, had fixed a price band of Rs 316-328 per share for its IPO.
Coffee Day Enterprises is the parent company of Coffee Day Group and operates coffee business through a subsidiary, Coffee Day Global Ltd (earlier known as Amalgamated Bean Coffee Trading Company Limited) and its subsidiaries.
In the broader market, the Sensex was trading at 26,529.55, down 127.28 points at 1040 hrs.