Getting picky: Canadian investors can’t hug indexes for returns anymore

Cara Operations, which owns Swiss Chalet, is planning a $200-million IPO.

Cara Operations Ltd. likely knew there was a healthy investor appetite for anything not related to the energy sector in Canada, however it could not have anticipated the overwhelming market demand when it announced it was going public this season.

The restaurant chain owner, which owns brands for example Swiss Chalet and Harvey\’s, raised roughly $200 million, based on sales documents released this week. But sources familiar with the deal say market demand was higher – within the $5-billion range – which makes it one of the most oversubscribed IPOs in Canadian history.

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