Specialty Restaurants IPO subscribed 2.5 times
Speciality Restaurants' Rs 182 crore initial public offer received bids for about two-and-a-half times the number of shares on offer on the last day of the sale, exchange data showed on Friday.
Investors bid for more than 2.5 crore shares of Speciality Restaurants, which was offering about 1 crore shares in the IPO that opened on Wednesday, according to data on the National Stock Exchange.
Speciality, which runs popular food chains such as Mainland China, Oh! Calcutta and Sigree, was selling the shares in a price band of Rs 146 to Rs 155 rupees apiece.
Kotak Mahindra Capital was the sole bookrunner for the Speciality Restaurants' share offering, which came two weeks after Samvardhana Motherson Finance withdrew its Rs 1,665 crore IPO due to poor investor response.
Copyright @ Thomson Reuters 2012
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