Senior management at Coffee Day Enterprises are hoping to convince investors they are capable of driving the coffee chain back into the black as they ready their domestic initial public offering later this month.
India’s biggest coffee chain is looking to raise Rs11.5 billion $175 million from the sale of about 35 million to 36.4 million new shares, according to a term sheet seen by FinanceAsia, which would make it the country's biggest IPO so far this year.
Despite a dominant 46% market share, the company has struggled in the face of growing competition from global coffee brands such as Starbucks and Costa Coffee. In...
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