Coffee Day firm CDTL to sell its equity in Magnasoft for 23.56 crore
The Hindu
Coffee Day Enterprises Ltd. plans to sell its investment in Magnasoft Consulting India Private Ltd. for ₹23.56 crore.
Coffee Day Enterprises Ltd. said, the Coffee Day Trading Ltd. (CDTL), a material subsidiary of the company, has proposed to sell its investment in Magnasoft Consulting India Private Ltd. (MCIPL) for an aggregate consideration of ₹23.56 crore.
According to a regulatory filing made by the company, CDTL’s investment comprises 2,61,85,728 equity shares held in MCIPL, representing 47.49% of the shareholding in the MCIPL. Its equity, at a price of ₹9 per share for an aggregate consideration of ₹23.56 crore, will be sold to Innovic Management services Private Ltd., on mutually agreed upon terms and conditions. However, the sale agreement was yet to be signed, the filing said.
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