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Cafe Coffee Day Shares Plunge After Promoter VG Siddhartha Goes Missing: 10 Points

Cafe Coffee Day Shares Plunge After Promoter VG Siddhartha Goes Missing: 10 Points

VG Siddhartha owns 32.75% stake in Coffee Day Enterprises, the owner of cafe chain Cafe Coffee Day.

Shares of Coffee Day Enterprises and SICAL Logistics plunged 20 per cent each on Tuesday, a day after their promoter VG Siddhartha went missing. Coffee Day Enterprises said in an exchange filing on Tuesday that its chairman and managing director is “not reachable since yesterday evening”. On the BSE, Coffee Day Enterprises and SICAL Logistics shares fell by the daily maximum limit of 20 per cent each to Rs. 154.05 and Rs. 72.80 respectively. “We are taking the help of concerned authorities. Company is professionally managed and led by competent leadership team, which will ensure continuity of business,” Coffee Day Enterprises said on Tuesday.