Speciality Restaurants fixes Rs 182 cr IPO at Rs 146-155
Quotes

Speciality Restaurants fixes Rs 182 cr IPO at Rs 146-155

Last Updated: Monday, May 14, 2012, 17:15
 
 Comment 0
 
Speciality Restaurants fixes Rs 182 cr IPO at Rs 146-155
Mumbai: Fine dine operator Speciality Restaurants Monday fixed the price band at Rs 146-155 for its Rs 182-crore initial public offering that opens for subscription on May 16.

The IPO of about 1.17 crore equity shares, with a face value of Rs 10 each, closes on May 18.

The issue will comprise 25 percent of the post-issue paid up equity share capital of the company.

The book running lead manager to the issue is Kotak Mahindra Capital Company. The company will mainly utilise the funds raised in the capital market for developing new restaurants, for repayment of term loan and for general corporate purpose, company's founder and Managing Director Anjan Chatterjee told reporters here.

"We are looking at opening 16 new restaurants in FY13, of which about 75 percent will be under the Mainland China brand, especially in metro and tier I cities and an occasional tier II city," he added.

For this purpose, the company has already entered into arrangements for lease property in Mumbai, Pune and Thane, he added.

As of now, Speciality Restaurants has 82 eateries under 10 brands, including Mainland China, Oh! Calcutta, Sigree, Flame & Grill, Machaan Sweet Bengal and Just Biryani spread across 22 cities in the country.

The focus of the expansion will be Mainland China, the flagship brand of the company, which contributes about 60 percent revenue.

"We also have two restaurants one each under Mainland China and Oh! Calcutta brands in Bangladesh," he added.

The company's revenue in FY11 stood at Rs 150 crore, PAT was at Rs 16 crore and the debt was at Rs 31.6 crore.

PTI



First Published: Monday, May 14, 2012, 17:15


Comments


comments powered by Disqus
New York Auto Show: 2015 Subaru Outback
New York Auto Show: 2015 Subaru Outback
New York Auto Show: Dodge Hot Cars
New York Auto Show: Dodge Hot Cars
New York Auto Show 2014: Hot Cars
New York Auto Show 2014: Hot Cars
Top 10 Fastest-Emerging Cities
Top 10 Fastest-Emerging Cities
Top Businesswomen in India
Top Businesswomen in India

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved