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Coffee Day Enterprises shares down 4.5% at Rs 313 on debut day

The company's Rs 1,150-crore public issue was over-subscribed 1.81 times last month.

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Shares of leading coffee chain operator Coffee Day Enterprises debuted on a weak note on Monday, opening at Rs 313 against the issue price of Rs 328. 

The stock of Coffee Day Enterprises, which runs Cafe Coffee Day (CCD) chain, was down 4.57% at Rs 313, much below the issue price on the BSE.

Intra-day, the shares fell over 14.42% to hit a low of Rs 280.7 but were last trading at Rs 292. 

On the NSE, shares of the company debuted at Rs 317, reflecting a fall of 3.35%. 

The company commands a market valuation of Rs 5,998.77 crore. 

Coffee Day Enterprises' Rs 1,150-crore public issue was over-subscribed 1.81 times last month.

The company, which competes with global giant Starbucks in the fast-growing Indian consumer market, had fixed a price band of Rs 316-328 per share for its IPO. 

Coffee Day Enterprises is the parent company of Coffee Day Group and operates coffee business through a subsidiary, Coffee Day Global Ltd (earlier known as Amalgamated Bean Coffee Trading Company Limited) and its subsidiaries.

In the broader market, at 1124 hours the Sensex was trading down 124.34 points, or 0.47% at 26,532.49.

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