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.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.