Speciality Restaurants IPO to hit market on May 16

MUMBAI: 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.

Price bands will be finalised and made public on Monday, the company's promoter, founder and managing director Anjan Chatterjee told ET in an exclusive chat.

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.

CRISIL has rated the IPO 4 in a scale from 1 to 5, indicating 'above average fundamentals'.

Kotak Mahindra is lead manager to the issue.