Wednesday, May 8 2024 | Time 06:33 Hrs(IST)
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Business Economy


SEBI seeks clarification from Cafe Coffee Day for IPO

Mumbai, Jul 14 (UNI) Market regulator, Securities and Exchange Board of India (Sebi) has sought clarification on the proposed Rs 1,150-crore initial public offer (IPO) of Coffee Day Enterprises, which runs the country's biggest coffee chain Cafe Coffee Day. Without disclosing details of clarifications sought, Sebi has said "clarifications (are) awaited from lead manager" for the proposed public issue. As per the latest weekly update of processing status of draft offer documents filed with the Sebi, regulator has said clarifications were awaited on the proposed IPO of Coffee Day Enterprises as on July 10, 2015. The next update would be available on July 20. Sebi said that it might issue observations on Coffee Day Enterprises' IPO document within 30 days from the date of receipt of satisfactory reply from the lead merchant bankers to the clarification or additional information sought. The regulator had received the draft offer documents on June 26, this year through its lead manager Axis Capital . As per the Draft Red Herring Prospectus (DRHP) filed with Sebi for the public offer, the company intends to raise an estimated Rs 1,150 crore to aid its expansion plans and pay off debt. Out of the capital raised, the parent company plans to utilise nearly Rs 632 crore to pay off debt and the remaining to open new stores, set up coffee bean roasting plants and make vending machines, the proposal said. In the next two financial years, the company plans to open over 215 outlets and set up 105 kiosks. In addition to having the largest chain of cafes in India, the company also operates a vertically integrated coffee business which ranges from procuring, processing and roasting coffee beans to retailing coffee products across various formats. UNI JS NV SM1232
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YES BANK, global co EBANX announce partnership for payment processing in India

07 May 2024 | 7:16 PM

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Agri Startup Hectar Global expands into Bangladesh

07 May 2024 | 7:07 PM

Chennai, May 7 (UNI) B2B cross-border agri-trade startup Hectar Global today announced its strategic expansion into the Bangladesh market to strengthen its downstream trade capabilities.

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Shyam Metalics Group commences operation at recently acquired Ramsarup Plant

07 May 2024 | 6:06 PM

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Indian stock market bleeds; Sensex plunges over 383 points

Indian stock market bleeds; Sensex plunges over 383 points

07 May 2024 | 6:03 PM

Mumbai, May 7 (UNI) Snubbing the rally in the foreign bourses, India’s stock market plunged nearly 400 points as the 30-share sensex ended at 73511.85 for the day, down 383.69 points from previous close.

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Jindal Stainless supplies spl alloy steel in DRDO’s SMART system for Navy

07 May 2024 | 5:37 PM

New Delhi, May 7 (UNI) Integrated steel maker Jindal Stainless on Tuesday said it has developed a specialized 3mm special alloy steel to be used for structural application in the Supersonic Missile – Assisted Release of Torpedo (SMART) system, aimed at enhancing Navy’s anti-submarine warfare capabilities.

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