Deals19 May 2025, 01:04 pm
Coffee Day Trading Limited to Sell 47.49% Stake in Magnasoft Consulting India Private Limited for Rs. 23,56,71,552
AI Summary
Coffee Day Trading Limited (CDTL), a material subsidiary of Coffee Day Enterprises Ltd, has proposed to sell its entire investment in Magnasoft Consulting India Private Limited (MCIPL), an associate company, representing 47.49% of the shareholding. The shares will be sold to Innovic Management services Private limited at a price of Rs. 9 per share for an aggregate consideration of Rs. 23,56,71,552. The agreement is yet to be signed.
Key Highlights
- Coffee Day Trading Limited to sell its entire investment in Magnasoft Consulting India Private Limited
- Investment comprises 2,61,85,728 equity shares, representing 47.49% of the shareholding in MCIPL
- Shares to be sold at a price of Rs. 9 per share for an aggregate consideration of Rs. 23,56,71,552
- The agreement is yet to be signed
- Coffee Day Trading Limited and Innovic Management services Private limited are not related