Coffee Day shares open below IPO price on debut

MUMBAI (Reuters) - Shares in Coffee Day Enterprises , operator of India's biggest coffee chain, opened at 317 rupees, below its initial public offering price of 328 rupees on its market debut on Monday.

Coffee Day, which runs the Cafe Coffee Day chain, had raised 11.5 billion rupees ($175.75 million) in the country's second biggest IPO this year after Interglobe Aviation, parent company of the IndiGo airline.

($1 = 65.4350 rupees)

(Reporting by Karen Rebelo in Mumbai; Editing by Rafael Nam)