Coffee Day Enterprises shares debuted on stock exchanges on a weak note on Monday. The scrip opened at Rs 313 on BSE and at Rs 317 on NSE against the issue price of Rs 328.
The stock of Coffee Day Enterprises closed 17.68 per cent down at Rs 270.15 on BSE as compared to its issue price.
The company commands a market valuation of Rs 5,998.77 crore.
Coffee Day had raised Rs 1,150 crore in the country’s second biggest IPO this year after Interglobe Aviation, parent company of the IndiGo airline.
The company’s initial public offering (IPO) was the biggest in nearly three years when it hit the market, but now it has been overtaken by Indigo’s Rs 3,018 crore IPO.
Coffee Day Enterprises had fixed the issue price at Rs 328 per share for investors. The IPO, which was opened for subscription during October 14-16, was subscribed 1.64 times at price band of Rs 316-328 a share.
Coffee Day Enterprises had raised over Rs 334 crore from anchor investors ahead of the IPO, while in March, the firm had mobilised Rs 100 crore in a pre-IPO funding from Nandan Nilekani and Rare Enterprises (owned by Rakesh Jhunjhunwala and Ramesh Damani), among others.