Coffee Day Enterprises has filed a draft prospectus with market regulator Sebi for raising Rs.1,150 crore in an initial public offering (IPO). The company plans to list within a couple of months of Sebi's approval and proposes to list its shares on both the BSE and the NSE.
The parent company's subsidiary Coffee Day Global runs the coffee retail operations. The holding company has other business interests, including coffee plantations, furniture and resorts.
The coffee chain has more than 1,500 outlets and increasingly faces competition from the likes of Starbucks, which entered the country in partnership with the Tata Group, and McDonald's franchise Hardcastle Restaurants' McCafes.
The company is backed by private equity giants KKR, Stanchart PE and New Silk Route (NSR). Coffee Day Global had a total income of Rs.1,154 crore and an operating profit of Rs.189 crore in 2013-14, according to a filing with the registrar of companies.
The firm has reserved Rs 15 crore worth of shares for staff.
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