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Issue Date:14 October 2015     Price in Rs. R 1    Price in USD. $ 1

We think the IPO of Coffee Day Enterprises Limited (CDEL) is overpriced. A more realistic price range could have been Rs 240-250, compared to the Rs 316-328 price set by bankers.

Besides the valuation, we have several concerns about the business itself. Growth rates are simply not good enough. And the promoter's keenness to build a diversified empire seems to be robbing the valuable consumer franchise of resources.

Balance sheet is highly stretched, and does not say good about management's financial stewardship

  • Key Points
  • Business Description
  • Main Subsidiaries
  • Purpose of IPO
  • Financial Analysis
  • Valiuation Opinion
  • Financial Summary
  • Profit & Loss Account
  • Balance Sheet
  • Ratios
  • Coffee Day Enterprises Limited
  • Coffee Day Global Limited
  • Sical Logistics