Speciality Restaurants' IPO opens at Rs 146

IPO to hit market on May 16.

Speciality Restaurants 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.

Speciality Restaurants runs popular restaurant chains such as Mainland China and Oh! Calcutta.

Price band is set at Rs 146-155 and the company hopes to raise approx Rs 180 crore. The promoters will dilute 25 per cent of their stake in the offer. Private equity firm Saif Partners owns 14 per cent equity in the company.

The company runs 82 restaurants in the country, including 38 outlets of the flagship brand Mainland China, besides other brands such as Oh! Calcutta and Sigree.