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Saturday, May 12, 2012

Speciality Restaurants IPO shares prices, prospectus

Speciality Restaurants IPO shares prices, prospectus : Speciality Restaurants, which runs popular restaurant chains such as Mainland China and Oh! Calcutta, will raise funds from the public next week with an initial public offering of 1.17 crore shares. The IPO will be open for bids from May 16 to May 18.

Speciality Restaurants runs 82 restaurants in the country, including 38 outlets of the flagship brand Mainland China, besides other brands such as Oh! Calcutta and Sigree.

The promoters will dilute 25% of their stake in the offer. Private equity firm Saif Partners owns 14% equity in the company. The stake was purchased in December 2007, and the holding is presently valued at around Rs 70 per share, Speciality's CFO Rajesh Kumar Mohta said.

At Rs 70 per share, the company is valued at about Rs 328 crore. The company will likely raise about Rs 200 crore from the IPO, a market source said. CRISIL has rated the IPO 4 in a scale from 1 to 5, indicating 'above average fundamentals'.

Speciality Restaurants has established several famous brands across the nation, including Mainland China, Oh! Calcutta, Sigree, Haka, Machaan, Mostly Kababs, Just Biryani and Sweet Bengal. It runs 62 Food & Beverage outlets in various important cities. Mainland China alone serves more than 2 lakhs Chinese meals per month, which is a record of sorts in the country. Their restaurants consist of different restaurant concepts and are located across India, with the majority concentrated in the western region.

The four factors of contribute to the quality of the food that they offer quality fresh ingredients, modern food preparation and storage equipment, standardised recipes prepared by trained chefs and effective quality monitoring.

Company Promoters:
Anjan Chatterjee and Suchhanda Chatterjee are the Promoters of the company.

Objects of the Issue:
The object of the issue are to:

1. Development of new corporate restaurants;
2. Development of a food plaza;
3. Repayment of a term loan facility; and
4. General corporate purposes.

Issue Detail:
»» Issue Open: May 16, 2012 - May 18, 2012
»» Issue Type: 100% Book Built Issue IPO
»» Issue Size: 11,739,415 Equity Shares of Rs. 10
»» Issue Size: Rs. [.] Crore
»» Face Value: Rs. 10 Per Equity Share
»» Issue Price: Rs. - Rs. Per Equity Share
»» Market Lot:
»» Minimum Order Quantity:
»» Listing At: BSE, NSE

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