Coffee Day Enterprises Limited has informed the Exchange about General Updates
COFFEEDAY · price
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Coffee Day Enterprises' material subsidiary, Coffee Day Trading Limited (CDTL), plans to sell its 47.49% stake (2,61,85,728 equity shares) in associate company Magnasoft Consulting India Private Limited (MCIPL) to Innovic Management Services Private Limited. The deal is priced at Rs. 9 per share for an aggregate consideration of approximately Rs. 23.57 crore. The agreement is yet to be signed. Innovic Management Services is not related to the listed entity or its promoter group, and the transaction is not a related-party deal. There is no impact on the management or control of Coffee Day Enterprises.
This is a routine divestment of a non-core, non-controlling investment by a subsidiary, freeing up modest cash (Rs. 23.57 crore) for Coffee Day Enterprises with no change in control or material impact on shareholders.