Tuesday, November 29, 2022
HomeDiversityHospitalityCoffee Day's 3.04 percent ownership is sold by KKR Mauritius

Coffee Day’s 3.04 percent ownership is sold by KKR Mauritius

KKR Mauritius, a private equity firm, has sold 3.04 percent of its Coffee Day stock. It has kept 3.3 percent of its holdings. KKR owned 6.07 percent of Coffee Day Enterprises before the sale.

KKR Mauritius disclosed to the Securities and Exchange Board of India (SEBI) that it sold half of its 1,28,26,912 shares on the stock exchange through open market sales.

The private equity firm said it sold 64,29,086 shares with voting rights and maintained 63,97,826 shares with voting rights, representing 3.04 percent and 3.03 percent, respectively.

In July and August, the open market sale was completed in eight tranches. The investor sold 10, 00,000 shares on the 30th of July, 5, 00,000 shares on the 2nd of August, 21, 00,000 shares on the 3rd of August, 4, 57,066 shares on the 4th of August.

In 2010, KKR Mauritius invested Rs 360 crore in Coffee Day to buy a fourth of the company. It sold a 5.9% stake for Rs 405 crore in 2018. VK Siddhartha, the instigator of the coffee chain, died in 2019. Lenders, tax officials, and investors all put pressure on him. Coffee Day Enterprises’ stock price plummeted from above Rs 360 to less than Rs 30 per share.

On Monday, shares of Coffee Day Enterprises Ltd were trapped in a 5% downward circuit on the BSE. The stock began at Rs 26.30, down 5% from its previous closing of Rs 27.65. On the BSE, the company’s market capitalization plummeted to Rs 555.59 crore.

Subscribe To Newsletter

ICYMI

BRL Editor
BRL Editorhttps://businessreviewlive.com
Business Review Live covers finance, technology, travel, lifestyle, and everything in between through exclusive interviews and analysis, market statistics, digital video, and an expanded array of content formats.