Speciality Restaurants opened 14 new stores last year, but its same store sales growth remained flat in this quarter.
In an interview to CNBC-TV18, Anjan Chatterjee gives an insight on how their food business has been performing. He says their discretionary spending has been under pressure.
Fine dining operator Speciality Restaurants' initial public offer has been subscribed 2.49 times so far on final day, as per data available on NSE website. Maximum bids for the issue were seen in the range of Rs 146-150 a share as against price band of Rs 146-155.
The managing director of Specialty Restaurants Anjan Chatterjee tells CNBC-TV18 that they expect their IPO to suceed despite the poor market conditions.
Last 6-7 months have not been very good for initial public offerings. Seven public offers hit the street since November. But barring MT Educare, most others are trading well below their issue price.
Speciality Restaurants will test the markets this week with its planned initial public offering of shares to raise around Rs 182 crore (at the higher end of its price band).