Coffee Day Promoters’ Stake Dives To 17% From 54%

From: timesofindia.indiatimes.com

BENGALURU: The shareholding of Coffee Day Enterprises’ (CDEL) promoter group has come down sharply from 54% in July last year to 17% as lenders have invoked pledged shares, a filing with the BSE late last week shows.

IDBI has invoked and transferred pledged shares at regular intervals from July last year. Yes Bank has also invoked shares. The shares were invoked from the accounts of promoter V G Siddhartha, and the promoter group, including Siddhartha’s wife Malavika Hegde, Coffee Day Consolidations, Devadarshini Info, Gonibenu Coffee Estates and Sivan Securities.

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