Missing VG Siddhartha's Coffee Day Enterprises valued at Rs 18,000 crore; CCD brand alone worth Rs 8,000 crore
The Coffee Day Enterprises board is evaluating and assessing appropriate steps to ensure that business operations are not affected
- Jul 30, 2019,
- Updated Jul 31, 2019 8:40 AM IST
In reply to a clarification sought by the Bombay Stock Exchange on the note purportedly written by Chairman and Managing Director V. G. Siddhartha to the Board and Employees, Coffee Day Enterprise Limited (CDEL) said that the board met for an emergency meeting. The company said it is confident that each of the business entities will ensure continuity of business operation. Meanwhile, the board is evaluating and assessing appropriate steps to ensure that business operations are not affected.
According to the additional details provided by the company to BSE, post the divestment of stake in Mindtree, the company is looking at re-organising group holdings. The total tangible asset are valued at over Rs 10,500 crore and the Cafe Coffee Day (CCD) brand alone is valued at another Rs 7,000-8,000 crore putting the total worth at over Rs 18,000 crore. Coffee Day Global Limited, that runs the coffee chain has a footprint of over 1,600 stores with 54,000 vending machines and more than 500 express stores.
Was VG Siddhartha's coffee business really a failed venture?
The company which also has a significant holding in technology companies like ITTIAM , Magnasoft has been valued at Rs 200 to 240 crore. Siddhartha's hospitality business has three flagship resorts in Chikamagalur, Kabini & Bandipur with some stake in Barefoot Resorts in the Andamans along with a land parcel is estimated to be around Rs 300 crore.
In reply to a clarification sought by the Bombay Stock Exchange on the note purportedly written by Chairman and Managing Director V. G. Siddhartha to the Board and Employees, Coffee Day Enterprise Limited (CDEL) said that the board met for an emergency meeting. The company said it is confident that each of the business entities will ensure continuity of business operation. Meanwhile, the board is evaluating and assessing appropriate steps to ensure that business operations are not affected.
According to the additional details provided by the company to BSE, post the divestment of stake in Mindtree, the company is looking at re-organising group holdings. The total tangible asset are valued at over Rs 10,500 crore and the Cafe Coffee Day (CCD) brand alone is valued at another Rs 7,000-8,000 crore putting the total worth at over Rs 18,000 crore. Coffee Day Global Limited, that runs the coffee chain has a footprint of over 1,600 stores with 54,000 vending machines and more than 500 express stores.
Was VG Siddhartha's coffee business really a failed venture?
The company which also has a significant holding in technology companies like ITTIAM , Magnasoft has been valued at Rs 200 to 240 crore. Siddhartha's hospitality business has three flagship resorts in Chikamagalur, Kabini & Bandipur with some stake in Barefoot Resorts in the Andamans along with a land parcel is estimated to be around Rs 300 crore.