Coffee Day Enterprises has informed that the Company has approved to enter in to the Share Subscription and Shareholders Agreement between Coffee Day Enterprises Limited (CDEL) along with its material subsidiary Coffee Day Global Limited (CDGL) and Coffee Day Consultancy Services Private Limited (CDCSPL) with Impact HD Inc., (IHD) for subscription to equity shares of the CDCSPL by IHD by investing Rupee equivalent to $15 million for 49% stake in the CDCSPL. Post subscription of equity shares by IHD, CDEL and CDGL will hold 51% of the paid-up-equity capital of CDCSPL. The CDCSPL will carry out the business of providing consultancy services in retail sector. Subsidiary of CDCSPL operates and manages Coffee Day Fresh & Ground business.
The above information is a part of company’s filings submitted to BSE.
