Coffee Day Enterprises Arm to Sell 47.49% Stake in Magnasoft Consulting; Shares Up 5%

MT Newswires Live

05-19

Coffee Day Enterprises (NSE:COFFEEDAY, BOM:539436) subsidiary Coffee Day Trading has agreed to sell its 47.49% stake in Magnasoft Consulting for 235.7 million Indian rupees to Innovic Management Services, according to a Monday filing to the Indian stock exchanges.

The company plans to sell 26,185,728 equity shares held in Magnasoft Consulting at 9 rupees per share.

Coffee Day's shares were up 5% in recent trade.

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