Cafe Coffee Day parent gets SEBI nod for IPO

Coffee Day Enterprises Ltd, which runs India's top coffee chain under the Cafe Coffee Day (CCD) brand among other businesses, has received the green signal from securities market regulator Securities & Exchange Board of India (SEBI) to float its initial public offer (IPO).

The Bangalore-based company that had roped in a string of private equity backers, including KKR, is looking to raise Rs 1,150 crore ($181 million) in its IPO. This would make it one of the largest IPOs in the recent times and would top the public issue of Inox Wind, that went public in March this year.

Budget carrier IndiGo and drugmaker Alkem have also filed documents for large public issues.

It had in June.

The company raised Rs 100 crore from a group of private investors including Infosys co-founder Nandan Nilekani, ace private investors Rakesh Jhunjhunwala and Ramesh Damani. Nilekani led the round with Rs 75 crore.

Given the pricing of these shares and the subsequent bonus issue, the company is eyeing a valuation of around Rs 6,800 crore (1.06 billion), as per VCCircle estimates. For more details on the proposed public float click here.

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