Analysis and Insights into the world of IPOs and investing in India

Friday, May 18, 2012

Speciality Restaurants IPO finally subscribed 2.54 times

The IPO of Speciality Restaurants Ltd., which had opened for subscription from May 16, 2012, has been finally subscribed 2.54 times on an overall basis.

The QIB portion of the issue was oversubscribed 4.68 times while the HNI Category received 2.19 times oversubscription. Incidentally, it is the retail investors this time around, who have chosen to stay away from the issue with the category receiving subscription for only 0.30 times the reserved portion

Speciality Restaurants Ltd is a fine dining operator in India with 62 restaurants and 11 confectionaries as of December 31, 2010. The objects of the issue are for:
1. Development of new corporate restaurants;
2. Development of a food plaza;
3. Repayment of a term loan facility
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