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Business EconomyPosted at: Oct 8 2015 7:12PM


Number of chained coffee outlets in country to touch 5000 mark in 5 years :CCD Chairman

Ahmedabad, Oct 8 (UNI) The Chairman of the number one coffee outlet chain in India, the Cafe Coffee Day (CCD), V G Siddartha today announced the opening of a public issue of equity shares for his company with an intention to collect 1150 crore for the development of coffee business and claimed that with the rising urban population the total number of chained coffee outlets in the country (of all the companies) would increase from existing 2000 to 5000 in the coming five years. Addressing a press conference here, Mr Siddartha said in the wake of increasing per capita income and traveling trends among youths the number of such outlets along the highways would also reach 1000 mark in the next five years. "The percentage of population leaving in urban areas in India is on the rise. Currently it is 30 per cent and in next 20 to 25 years it would reach 50 per cent. Among them a large number is that of youths. So the demand for coffee outlets is bound to rise. When, in 1995, I proposed to sell coffee in India at Rs 25 a cup even my close ones warned me. No one will buy it when the highest ranged coffee was available for Rs 5 a cup at that time. But the idea clicked. Today, people prefer us when they see that the other foreign based chains were charging much higher' he said. To a query, the Chairman said the CCD has 65 outlets in Gujarat alone while in a total of 219 cities across the country it has 1538 outlets. With around 46 per cent market share the company was over four times the combined size of other competitors. It started its first outlet in Bangaluru in 1996. Talking about the public issue which opens on October 14, Mr Siddartha said public issue of Equity Shares of Face Value of Rs 10 each for cash including a share premium aggregating up to Rs 11,50 crore comprises a net Issue to the Public and a reservation of Equity Shares aggregating up to Rs 150 million for subscription by eligible employees. The Price Band has been fixed from Rs 316 to Rs 328 per Equity Share. The minimum Bid lot is 45 Equity Shares and in multiples of 45 Equity Shares therein. The Equity Shares offered through the Issue are proposed to be listed on the BSE Limited and the National Stock Exchange of India Limited, he informed. UNI RAJ KU 1911
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