Markets

Coffee Day in deal with Siddhartha

Our Bureau Chennai | Updated on March 22, 2018 Published on March 20, 2018

Coffee Day Enterprises on Tuesday said that it has entered into an agreement with VG Siddhartha, who owns 3.34 per cent stake or 54.69 lakh shares in Mindtree. Accordingly, Siddhartha will vote alongside Coffee Day Enterprises while the title and ownership of Mindtree shares will belong exclusively to Siddhartha.

The founder of the Coffee Day Group, VG Siddhartha, last week had resigned as a director from Mindtree.

Siddhartha owns 20.45 per cent stake in Mindtree, both directly and through two of Coffee Day Group entities — Coffee Day Enterprises and Coffee Day Trading.

Shares of Coffee Day edged up 0.8 per cent at ₹309.15 while those of Mindtree slipped 0.5 per cent at ₹774.3 on the BSE.

Published on March 20, 2018
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