Calcutta, May 21: Speciality Restaurants Ltd ' owner of fine-dining chains Mainland China and Oh! Calcutta ' has priced its initial public offer at Rs 150 a share.
The company, whose IPO was subscribed two-and-a-half times, had offered shares at the price band of Rs 146-155 a share.
Managing director and promoter Anjan Chatterjee termed it as a goodwill gesture. "Most of the bids had come at the top end of the price band of Rs 155. But we decided to leave something on the table for the investors who I want to grow along with the company," he said.
A number of high networth individuals had invested in the IPO. Sources said Rakesh Jhunjhunwala and Keventer Agro chairman Mahendra Jalan were among them. The stock is likely to be listed at end of this month.
The successful book-building followed a series of misadventures by other firms who could not bring their IPOs to the market because of weak investor sentiment.