The IPO was oversubscribed 2.54 times on the last of its issue on May 18, as per the stock exchanges data.
The price band for the issue was between Rs 146 and Rs 155 per equity share. The issue had opened on May 16.
"A lot of institutional investors invested at Rs 155 per share but the board decided to fix the price at Rs 150 a share keeping the best interests of the investors in mind," market sources said.
Robust market sentiments on Friday helped by SBI's good results helped the IPO received good investor response, they said.
Five anchor investors including Morgan Stanley, SBI Magnum Global Fund, Reliance Equity Opportunities Fund and HSBC India Alpha (Mauritius) Ltd are believed to have subscribe to the unsubscribed portion of the retail portion, they noted.
The category reserved for qualified institutional buyers (QIBs) was subscribed 4.68 times, while retail portion received 0.55 times subscription and non-institutional investors portion was subscribed 2.19 times.
The proceeds of IPO would be mainly used for new restaurants, repayment of term loan and general corporate purposes.
The equity shares are proposed to be listed on the BSE and NSE.
Kotak Mahindra Capital Company was the book running lead manager to the issue.
Speciality Restaurants has 82 eateries under 10 brands, including Mainland China, Oh! Calcutta, Sigree, Flame & Grill, Machaan Sweet Bengal and Just Biryani.