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Coffee Day locked in upper circuit as it decides to sell Way2Wealth Securities

There were pending buy orders of 80,234 shares, with no sellers available.

January 24, 2020 / 11:22 AM IST
 
 
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Coffee Day Enterprises share price locked at 5 percent upper circuit on January 24 as the company is going to sell Way2Wealth Securities.

The company entered into the definitive agreement to sell Way2Wealth Securities including its certain subsidiaries to Shriram Ownership Trust, company said in BSE release.

Shriram Ownership Trust is the promoter of Shriram Capital which is the holding company for their large NBFC and Insurance Businesses.

The acquisition will be subject to the closing conditions and required statutory approvals.

The above-mentioned transaction shall help in further deleveraging the Coffee Day Group and ensure smooth operations while safeguarding the interests of all stakeholders, including investors, lenders, employees and customers, company said.

There were pending buy orders of 80,234 shares, with no sellers available.

At 11:01 hrs Coffee Day Enterprises was quoting at Rs 33.80, up Rs 1.60 on the BSE.

Moneycontrol News
first published: Jan 24, 2020 11:22 am

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