Coffee Day Enterprises IPO subscribed 13% on Day 1

Most bids came from in the institutional and retail investor segment

Coffee Day Enterprises, the company that operates the Café Coffee Day chain of restaurants, received 3.4 million bids, 13 per cent of the 25.8 million shares on offer in its initial public offering (IPO), which opened for subscription on Wednesday.

Most bids came from the institutional and retail investor segment. Coffee Day has priced its IPO between Rs 316 and Rs 328 a share.

The company on Tuesday raised Rs 334 crore from anchor investors by selling 10.4 million shares at Rs 322 apiece. The IPO will remain open for subscription till Friday.