India: Coffee Day shares have never traded above their IPO price

India: Coffee Day shares have never traded above their IPO price

Photo: Cafe Coffee Day

In 2015, at a press conference ahead of Coffee Day Enterprises Ltd’s initial public offering, V.G. Siddhartha was asked why its offer price was lower than a private placement just a few months earlier. The CDEL founder replied that he wanted to leave some money on the table for retail and institutional investors.