A centralized coded caching system, consisting of a server delivering N popular files, each of size F bits, to K users through an error-free shared link, is considered. It is assumed that each user is equipped with a local cache memory with capacity MF bits, and contents can be proactively cached into these caches over a low traffic period; however, without the knowledge of the user demands. During the peak traffic period each user requests a single file from the server. The goal is to minimize the number of bits delivered by the server over the shared link, known as the delivery rate, over all user demand combinations. A novel coded caching scheme for the cache capacity of M= (N-1)/K is proposed. It is shown that the proposed scheme achieves a smaller delivery rate than the existing coded caching schemes in the literature when K > N >= 3. Furthermore, we argue that the delivery rate of the proposed scheme is within a constant multiplicative factor of 2 of the optimal delivery rate for cache capacities 1/K <= M <= (N-1)/K, when K > N >= 3.