Why Coffee Day Enterprises left a bitter taste for its investors
Experts say the clubbing of unrelated ventures under one roof led to a drag on the success of coffee biz
CDEL shares have never traded above their IPO price. On Wednesday, they closed at ₹123.25 apiece
In 2015, at a press conference ahead of Coffee Day Enterprises Ltd’s initial public offering, V.G. Siddhartha was asked why its offer price was lower than a private placement just a few months earlier. The CDEL founder replied that he wanted to leave some money on the table for retail and institutional investors.